The US Treasury Department sanctioned an oil refinery in China — along with port terminal ... Hebei Xinhai Chemical Group, Ltd., a so-called teapot refinery in Hebei Province, was the main ...

These “teapot” firms were toughing it out before the coronavirus epidemic hit China’s economy, due to cutthroat competition with bigger state-owned rivals, rising costs and weaker sales.

Few paid attention just over two months ago when 16 so-called teapot refineries came together in Jinan to announce to the world that they had formed the China Petroleum Purchase Federation of ...