11 September 2013 09:16 [Source: ICIS news]
SINGAPORE (ICIS)--China's refining capacity this year is expected to grow 4% to around 680m tonnes, driven by expansion projects at state-controlled oil firms, an industry analyst said on Wednesday.
Over the next five years, the country's refining capacity is set to see a 150m tonnes/year increase, according to Caroline Liu, senior analyst at China-based JYD Online Co, at the sidelines of the 29th Asia Pacific Petroleum Conference (APPEC) in Singapore.
Expansion projects at state-owned oil firms Sinopec, CNPC and CNOOC have driven the growth in China's refining capacity in 2006-2012, she said.
China has 21 refineries with at least 10m tonnes/year of capacity each, all of which are owned by state-controlled firms, according to Liu.
"State-run companies take overwhelming predominance in the refining industry in China," she said.
"Non-state-run companies surpass by numbers, but refining capacity of each unit is weaker and dispersed," Liu said.
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