China’s Hengli Petrochemical Group ( 600346.SS ) will start test-running its new oil refinery in the northeastern city of Dalian on December 15, according to a company statement, slightly behind an earlier timeline of around the end of November. Once operational, Hengli will become the country’s first privately owned refinery and chemical complex. With a refining capacity of 400,000 barrels per day (bpd) of crude oil, the site will rival the largest oil refineries in China, the world’s biggest importer and second-largest consumer of oil. “Hengli has completed building the 20 million ton per year refinery and chemical complex, with public utilities and auxiliary facilities also ripe for operations,” the firm said in a statement posted on its social media […]