Lack of infrastructure crimps exports from private refineries Not commercially viable to export fuel now: Teapot association Oil refiners rocked by a market glut in Asia are finding some solace as what was expected to be a flood of fuel from China’s private processors is proving to be a benign trickle. While the Chinese companies known as teapots were expected to swamp the market after they received government approval to ship supplies overseas, a lack of facilities to transport products from plants to ports has hindered such plans. For instance, one of the refiners took two months to fill a single ship of 35,000 metric tons after having to repeatedly cart the fuel in 30 ton trucks, according to BMI Research. Teapots have gained prominence over the past year after the government relaxed rules governing their oil purchases and sales. Processors elsewhere in Asia and beyond braced for more […]