A Sinopec station in China. Sinopec and other big NOC’s are slashing prices to take business from Chna’s small private “Tea Pot” refiners.
Last week, I was quoted on my assessment of how China’s “Tea Pot” refineries (small, private outfits) will fare in the face of China’s big National Oil Companies (NOCs) cutting prices to grab the Tea Pots’ business. My main point to Newsbase reporter Saw Wright was that China is far from a completely “free market” and the state can be expected to weigh in on one side or another, complicating any outcome predictions based on market and/or tech strengths and weaknesses. I’m quoted a couple times near the article’s end, here:
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The Global Barrel 