Sanctioned Private Chinese Refiner Seeks Non-Iranian Crude

Hengli Petrochemical, the privately-owned Chinese refiner that was sanctioned by the U.S. in April over allegedly buying Iranian oil, is looking to buy crude from other Middle Eastern producers and West Africa, Reuters reported on Thursday, citing trade sources. Hengli Petrochemical, one of China's largest independent refiners which operates a refinery in Dalian with the capacity to process 400,000 barrels per day of crude, was sanctioned by the U.S. Department of the Treasury's Office of Foreig...