China’s crude processing climbed to the highest it’s been
since August, boosted by independent refiners that increased output after
getting new oil-import quotas.
Refineries in the world’s second-largest oil consumer
processed 44.25 million metric tons of crude last month, according to data
released Wednesday by the Beijing-based National Bureau of Statistics.
Eleven of China’s smaller, independent refiners were given
permission to process a total of 50 million tons of imported crude this year,
as the government sought to expand private investments in the energy industry.
These independent refiners will play an increasingly important role in China’s
refining sector with access to more crude oil for feedstock supplies.