Hengli buys Brazilian oil

Source:Agencies Published: 2018/6/13 21:38:41

Chinese chemical producer Hengli Group has bought its first crude oil cargo from Brazil ahead of the start-up of a new refinery in the fourth quarter, two sources with knowledge of the matter said on Wednesday.

The 400,000 barrels-per-day (bpd) refinery in Dalian, Northeast China's Liaoning Province, will be one of the five largest refineries in China and a major crude oil buyer. The plant is configured to process medium and heavy crude grades from Saudi Arabia as well as Brazilian oil.

To prepare for trial runs at the plant, which are scheduled for October, the company has bought 1 million barrels of spot Marlim crude from Petrobras that arrived in China at the end of May, one of the sources said.

Posted in: COMPANIES

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