Southern China to add 30 mm tons oil refining capacity by 2009
Feb 10, 2009 01:00 AM
China's oil refining capacity may increase by around 54 mm tons within the year, sources reported.
In southern China alone, China Petrochemical Corp (Sinopec Group), China National Offshore Oil Group (CNOOC) and
China National Petroleum Corp (CNPC) may increase capacity by 30 mm tons.
The 30 mm tons of oil refining capacity will be comprised of 12 mm tons at CNOOC's Huizhou plant, 8 mm tons at Fujian
Refining & Petrochemical Co, a joint venture with China Petroleum and Chemical Corporation (Sinopec), and 10 mm
tons at the Guangxi branch of CNPC.
The expansion of oil refining capacity in southern China will largely fulfil local needs. One analyst commented that
the capacity expansion may result in a price cut.
