May 22: China’s independent but small refineries, also known as the “teapot refineries”, have come of age. 8Many of them have grown in size and sophistication and they have now cornered a quarter of the country’s production. 8The refinery utilization rates have been slowly going up. Their output has diversified. 8The rise of the teapot refineries have lead to a surge in exports. Crude imports have gone up from non-traditional sources, thereby upsetting the otherwise carefully orchestrated crude buying matrix of the Chinese state owned companies. 8Is it possible to replicate the Chinese experience in India? Click on Reports for more