Two independent Chinese refiners have started buying feedstock for two bankrupt refineries that they acquired from a state-owned company, Reuters has reported, citing trade sources without naming them. Qicheng Petrochemical and Qirun Petrochemical, according to the sources, have so far bought a combined 4 million barrels of crude from Brazil and Angola, both for delivery in November. The two refining facilities were previously the property of state refiner Sinochem Group. However, Sinochem Group closed shop in 2024. Earlier this year, Reuters again…
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