China Delays 500,000 Bpd Of Refining Capacity As Hormuz Disruptions Deepen

The disruption of Middle Eastern crude supplies through the Strait of Hormuz has forced Chinese refiners to delay or indefinitely postpone 500,000 barrels per day of refining capacity, creating one of the first major downstream impacts of the Iran war outside the Gulf region, Reuters reported on Monday. The delays affect a 300,000-bpd refinery being developed by Huajin Aramco Petrochemical Co. in northeastern China and a planned 200,000-bpd restart at PetroChina’s Dalian refinery. Both projects...