Chinese companies have reportedly delayed two major refinery projects, capable of producing 500,000 barrels per day (bpd) combined, due to the shortage of crude oil from the Middle East after Iran closed the Strait of Hormuz.
Reuters on Monday quoted sources who identified the two projects as a 300,000 bpd refinery in the northeastern Chinese city of Panjin and a 200,000 bpd in the southern city of Dalian. Both refineries were planned with a heavy flow of Middle Eastern crude oil in mind.
The Panjin refinery is a joint venture between China’s state-owned Panjin Xincheng Industrial Group, China’s state-owned defense company Norinco Group, and…
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