Refined Products
China's Rongsheng Petchem opens Canada offices, buys crude oil from Suncor
Sources in the trade said that China's Rongsheng Petrochemical (a major independent refiner) has opened a Canadian office to purchase Canadian crude. It made its first order from Suncor Energy. Rongsheng is China's largest independent refining company with a capacity of 40,000,000 metric tons annually or 800,000.000 barrels daily. Since the newly expanded Trans-Mountain Pipeline began operations in May last year, Rongsheng has been a regular purchaser of heavy sour Canadian Crude. Sources said that the first order made since the opening of the new office located in Calgary, western Canada was for crude cargo bound for China and arriving...