In China a new oil terminal has entered operations. Dalian Port's 450,000 tonne crude oil terminal commenced life on 16 August, and the biggest oil terminal in China is capable of unloading 19 million tonnes of oil a year.
The port, which was built by Dalian Port (PDA) and China National Petroleum Corp (CNPC), brought its annual oil offloading capacity total 80 million tonnes, equivalent to 1.6 million barrels per day.
At present, there are two large oil refining plants in Dalian, Liaoning Province. One is capable of processing 400,000 barrels of crude oil a day; while the other one's daily processing capacity is around 200,800 barrels.
In the first half of this year, the Hong Kong-listed firm Dalian Port (PDA) reaped RMB 326 million (37.85 million) in net profit, and its gross profit margin declined to 48% year on year from 49.6%.
