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China's CNPC set to restart Dalian refinery to process Russian oil
Reuters· 2026-01-30 10:41
Core Viewpoint - Chinese state oil firm CNPC is planning to restart a unit at its refinery in Dalian after months of closure, aiming to capitalize on high margins from processing discounted Russian oil [1] Group 1: Company Actions - CNPC is set to resume operations at a refinery unit in Dalian, which had been closed for several months [1] - The decision to restart the unit is driven by the opportunity to process discounted Russian oil, which is expected to yield significant profit margins [1] Group 2: Market Context - The move reflects a broader trend in the industry where companies are seeking to maximize profits by leveraging lower-cost crude oil sources [1]