Insight
Why China's teapot refiners are going cold
*Please note that this report only includes an Excel data file if this is indicated in "What's included" below
Report summary
China's National Development and Reform Commission (NDRC) has announced that it will stop receiving applications for crude import quotas from teapot refiners from May 5th 2017. We forecast crude import quotas to remain at 2017 levels in future, however, the crude quota utilisation will increase over time as the current level is around 72%. With tightening policies and increasingly stringent fuel quality norms, we believe golden days are over for teapot refiners.
Table of contents
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The last blow to teapot sector growth: no more teapot quota approvals
- Crude quota, kb/d
- How will crude quota affect teapot refiners?
- The end of golden days?
Tables and charts
This report includes the following images and tables:
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Teapot refiners total feedTeapot refiners imported crudeWhy China's teapot refiners are going cold: Image 1
What's included
This report contains:
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