PetroChina to supply small refineries in Shandong

PetroChina International Co. or Chinaoil has started supplying crude oil from overseas to Shandongs privately run refineries for the purpose of relieving its refining burden, Xinhua-run Shanghai Securities News reported on May 13. Chinaoil is expected to pay processing fees to the local ‘teapots’ in exchange for petroleum products. The specific figure of crude supplied to the ‘teapots’ is not revealed, but the report said that some large-scale private-run refineries obtained 100,000 tons per month of crude each for processing. (May 25, 2008)