Surplus annual production of diesel, gasoline and kerosene in China will double to nearly 30 million tonnes by 2020 from last year's level, boosted by increasing output from independent refiners, according to an industry research paper.
Smaller and independently operated refineries, known as "teapots", are set to churn out more and higher-grade oil products after Beijing allowed them to import crude for the first time to encourage competition and boost private investment.
That could stoke exports of finished products from the world's second-largest refining industry after the United States, dragging on Asian refining margins (DUB-SIN-REF) already pressured by rising supplies from mega-sized new refineries in the Middle East.
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Smaller and independently operated refineries, known as "teapots", are set to churn out more and higher-grade oil products after Beijing allowed them to import crude for the first time to encourage competition and boost private investment.
That could stoke exports of finished products from the world's second-largest refining industry after the United States, dragging on Asian refining margins (DUB-SIN-REF) already pressured by rising supplies from mega-sized new refineries in the Middle East.
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