Sinochem Group and Sinopec Group, via Unipec, are selling West African crude
cargoes in a rare move following utilization cuts at state refiners amid Iran
war-driven supply disruption. Cargoes from Nigeria, Angola, and Ghana have been
sold to buyers in Taiwan and Indonesia. State refiners are running below 70%
capacity, the lowest since June 2022, while private “teapot” refiners are
instructed to maintain high processing rates.
