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Securing New Markets in Asia: The Value of Strategic Spot Crude Oil Sales to Teapot Refiners

Author

Listed:
  • Jennifer Considine
  • Kang Wu
  • Abdullah Aldayel

    (King Abdullah Petroleum Studies and Research Center)

Abstract

In the race to secure customers on competitive world oil markets, many oil producers are looking to China as a promising source of increased market share. The task of securing new customers in China can be challenging, as most of China’s recent growth in oil demand has come from ‘teapot refiners’ who have been less predictable, and more like the ‘wild west,’ than China’s national oil companies. Teapot refiners tend to be more focused on short-term profits than long-term relationships.

Suggested Citation

  • Jennifer Considine & Kang Wu & Abdullah Aldayel, 2019. "Securing New Markets in Asia: The Value of Strategic Spot Crude Oil Sales to Teapot Refiners," Discussion Papers ks--2019-dp79, King Abdullah Petroleum Studies and Research Center.
  • Handle: RePEc:prc:dpaper:ks--2019-dp79
    DOI: 10.30573/KS-2019-DP79.
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