China’s refinery capacity to hit 800m tonnes/year by 2020

17 April 2014 14:17  [Source: ICIS news]

SHANGHAI (ICIS)--China’s refinery capacity will hit 800m tonnes/year by 2020 if all the new projects planned are started up, because the capacity expansion will outpace domestic demand growth for oil products, a senior engineer of PetroChina said on Thursday.

China’s oil product exports had increased significantly in recent years because of weak demand and an oversupply in the country, hence macro controls are needed to curb over-expansion in the domestic refinery sector, said Jin Yun, senior engineer at PetroChina’s economics & technology research institute.

China’s refinery capacity was estimated at 650m tonnes/year in 2013, he said, speaking at the 8th China Petrochemical Focus, a two-day event that ends on Friday.

By: Chow Bee Lin
+65 6780 4359

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly

Get access to breaking chemical news as it happens.
ICIS Global Petrochemical Index (IPEX)
ICIS Global Petrochemical Index (IPEX). Download the free tabular data and a chart of the historical index