Singapore—China has allowed four more Shandong-based teapot refiners to process imported crudes, the government said on its Website Thursday, taking the total volume close to 50 million mt/year, since Beijing earlier this year threw open its oil industry to increased private sector participation The latest approval from the National Development and Reform Commission to process crudes to the tune of 14.45 million mt/ year brings the total volumes awarded to 49.19 million mt/year, with 34.74 million mt/year already allocated to another seven teapot refineries.
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