China’s Oil Imports Could Rise as Newest Refinery Begins Trial Runs

Shandong Yulong Petrochemical, the newest refiner in China, is set to begin trial runs at a 200,000-barrels per day crude processing unit later this month, traders familiar with the facility’s plans told Reuters on Monday, in what could be a boost to Chinese crude oil imports in the coming months. Shandong Yulong Petrochemical started up its first crude processing unit of 200,000 bpd in September 2024. This unit has kept crude processing rates at 90% of capacity since November. Now the refiner, whose refining and chemicals complex is worth…