Chinese teapots to import crude, unlikely to affect US fuel oil exports.

摘要

China's state-owned China National Chemical Corp (ChemChina), which operates seven teapot refineries, is expected to receive permission to import up to 10MM mt/y (200.8K b/d) of crude in 2013. If other teapots attempt, or are permitted, to follow suit, China could see increasing fuel oil production, resulting in decreasing fuel oil imports. Through Sept. of this year, the US has exported a total 542K bbl of residual fuel oil to China, second only to the 25.6MM bbl imported to Singapore in the same period.