British media: China "teapot" refinery production of diesel fuel tanker recovery increased excess British media said, a consortium of China independent refiners announced plans to coordinate the procurement and export of international crude oil, diesel and other refined oil. The refineries are trying to get out of the shadow of powerful state rivals. According to the British "Financial Times" website reported on September 7th, known as the "independent refinery teapot" accounted for China refining capacity of about 1/5, since Beijing has granted them crude oil import license, they have to expand market share. But their eagerness to take advantage of the new import license has led to a wave of chaos in the northern province of Shandong this year, resulting in a wave of congestion and high storage costs. Reported that the new alliance for more coordinated procurement opened the door, may help the teapot refinery dispersed crude oil imports, reduce procurement costs. The coalition of the largest "teapot" of the Pacific Commercial Holdings Limited (Dongming petrochemical company registered in Singapore Trading Department) and led by the international crude oil procurement and sales of refined oil on behalf of more than 16 group in the league. In September 6th, the Pacific Business Group on behalf of the Union signed a state-owned petrochemical sector through its joint petrochemical imports of 8 million barrels of crude oil per year agreement. The alliance had reached a similar agreement with BP, the UK’s largest oil company. Reported that the structure of the alliance means that the risk of Dongming partners for Shandong. These refineries are discussing a direct stake in the Pacific Commercial Holdings, and set up a bank support fund in Shandong, to absorb some of the risk, which will strengthen the alliance as a unified entity trading oil plan. "We are all brothers. We know each other. None of us would harm anyone else, "said Zhang Liucheng, vice president of Dongming petrochemical." we can’t undermine our credibility, because the banks will not lend us money." Reported that these independent refineries struggling for years, relying on the domestic surplus of crude oil and fuel oil imports to maintain operations. The acquisition of crude oil import license allows them to use the international market Every dog has his day, the excess supply of buy higher quality crude oil. However, the national development and Reform Commission in August warned that the oil refinery has not yet paid the tax may be revoked crude oil import license, making this situation threatened. The impact of the recovery of the "teapot" refinery has gone beyond the domestic market, exacerbated by excess diesel production in China, and has brought pressure on the middle and Upper East Asian markets. Their license to export refined oil will fail at the end of the year, another disadvantage for the large state-owned enterprises. Reported that, to really become a part of the international oil market, these independent refineries still need to convince the global oil traders believe that they are trustworthy partners, especially in the light of Baota Petrochemical does not belong to this alliance — a "teapot" refinery to winter failed to $50 million to buy oil from Vitor the two traders and mercuria access to credit, they need to prove their credibility to international buyers. Stocks lost how to do? See here, whether you fry A shares, stocks, gold or foreign exchange