Crude and bitumen blend import for China’s independent refineries jumped 42.2% on the year to a record high of 188.11 million mt in 2020, latest data collected by S&P Global Platts showed Jan. 6. Receive daily email alerts, subscriber notes & personalize your experience. Register Now The private refining sector’s annual crude import growth in 2020 outpaced the 25% increase in 2019, and 13.9% rise in 2018. The sharp increase was mainly attributed to low oil prices during the first half of 2020. Independent refineries had actively purchased feedstock cargoes when prices were hovering between $20/b and $30/b. The refineries’ aggressive bargain-buying approach during the period was one of the primary reasons behind the longstanding port […]