China’s Shandong Faces Oil-Product Oversupply, dzwww.com Says
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China’s eastern province of Shandong faces an oversupply of oil products, news portal dzwww.com reported, citing the local petroleum and chemical association.
The province received 12.2 million metric tons of oil- product supply in the first half, including 7 million tons from domestic privately held processing plants, 3.7 million tons from China Petroleum & Chemical Corp. and 1.5 million tons from PetroChina Co. Fuel consumption reached 7.3 million tons during the period, according to the report.