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- Will China become the world's refiner?
- China is going to become the world’s refiner. The size of its exports will depend on what the ruling party decides should be exported. And this means that China will have its hand on the global fuel price lever the way OPEC has its hand on the crude oil price lever.
- Is China the world's largest refiner?
- China overtook the United States to become the world’s largest refiner last year, the IEA also noted in its report, but it is not stopping there. Instead, refiners in China are building even more capacity, with the total set to reach 19.7 million barrels daily by 2028. Of this, more than 3 million barrels daily will be spare capacity, the IEA said.
- Which country has the largest refinery capacity in Asia?
- Presently, India accounts for 14% of the total active (operational) refinery capacity in Asia and would account of 21% of the total capacity additions in Asia by 2026. South Korea accounts for 9.4% of the total active (operational) refinery capacity in Asia. Daesan I refinery is the only expansion project in the country with a capacity of 200 mbd.
- Which country has the most upcoming refinery capacity additions by 2026?
- China leads Asia in terms of upcoming refinery capacity additions by 2026. Strong demand for gasoline, diesel and plastics are some of the key factors driving refining capacity additions in the country India stands second in terms of upcoming refinery capacity of 1,607 thousand barrels per day (mbd) from new build and expansion refineries.
- What is India's upcoming refinery capacity?
- India stands second in terms of upcoming refinery capacity of 1,607 thousand barrels per day (mbd) from new build and expansion refineries. Vadinar is the largest project in the country that is expected to add a capacity of 515 mbd in 2024 China has close to 50% share in Asia’s active refinery capacity in 2022 with a capacity of 18,221 mbd.
- Which countries contribute to Asia's active refinery capacity?
- Another important contributor to the Asia’s active refinery capacity is Singapore with 3.6% share. Thailand, Indonesia, Taiwan and Malaysia are other notable countries with each country contributing about 3% share. These countries are expected to collectively add capacity additions of 901 mbd from new build and expansion projects.
