Highlights State refiners to import bigger share of incremental barrels More crudes with higher gasoil yields likely to flow in Independent refineries to seek replacement for Merey crude Singapore — China’s surprise move to slap a consumption tax on imports of light cycle oil and mixed aromatics will force refiners to boost output of these products at home, which could lead them to ship in incremental crude oil cargoes as well as divert some feedstock from other oil products. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Analysts said a bigger share of those incremental barrels will be shipped in by the state-run refiners, while independent refiners would account for relatively smaller volumes. Beijing said in the week ended May 14 it will impose a consumption tax on the two imported materials from June 12, making gasoil barrels blended from imported LCO and gasoline barrels […]