China's teapots pause Iran oil orders after US sanctions refinery
Chinese independent refineries, known as "teapots," appear to be pausing new orders of Iranian crude oil following Washington's first imposition of sanctions on a Chinese refinery, Shandong-based Shouguang Luqing Petrochemicals.
Iran’s main oil customers are small, independent Chinese refineries, known as "teapots," most of which are based in Shandong, where 90% of Iranian oil cargoes is discharged.
According to market intelligence cited by Kpler, no fresh deals for Iranian crude have been reported since March 20.
