Sanctioned Private Chinese Refiner Seeks Non-Iranian Crude

AI Summary

Hengli Petrochemical, a Chinese refiner sanctioned by the U.S. for allegedly purchasing Iranian oil, is seeking crude oil supplies from other Middle Eastern and West African producers to replace Iranian crude. The refinery in Dalian can process 400,000 barrels per day, according to trade sources.

Hengli Petrochemical, the privately-owned Chinese refiner that was sanctioned by the U.S. in April over allegedly buying Iranian oil, is looking to buy crude from other Middle Eastern producers and West Africa, Reuters reported on Thursday, citing trade sources. Hengli Petrochemical, one of China's largest independent refiners which operates a refinery in Dalian with the capacity to process 400,000 barrels per day of crude, was sanctioned by the U.S. Department of the Treasury's Office of Foreign Assets Control (OFAC) at the end of April. "China-based…