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

Jennifer Considine, Kang Wu and Abdullah Aldayel
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Abdullah Aldayel: King Abdullah Petroleum Studies and Research Center

Discussion Papers from 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.

Keywords: Asian Spot Markets; Energy Policy; Energy Security; Joint Oil Stockpiling; Oil Markets; Oil Price; Oil Storage; Strategic Petroleum Reserves (SPRs); Teapot refiniries; Trade relations (search for similar items in EconPapers)
Pages: 47
Date: 2019-12-18
New Economics Papers: this item is included in nep-ene and nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:prc:dpaper:ks--2019-dp79

DOI: 10.30573/KS-2019-DP79.

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