Storm in a teapot: China’s small oil refineries brew big

  • china big oil refinery wholesale
  • china big oil refinery wholesale
  • china big oil refinery wholesale
  • china big oil refinery wholesale

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  • 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.
  • 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.
  • Which country has the greatest oil refining capacity in the world?
  • What the report mentioned was that China is on its way to becoming the country with the greatest oil refining capacity in the world. And this would make it the single biggest supplier of things like gasoline and diesel to the world. With the power to dictate prices.
  • Will China improve the management system of refined oil?
  • China plans to further improve the management system of circulation of refined oil, and promote its high-quality development, according to a circular released by the General Office of the State Council on Feb 5.
  • How much oil will Guangdong refinery produce in 2024?
  • Guangdong Petrochemical plans to process about 19 million mt (380,000 b/d) of crudes in 2024, up 18.75% compared with a throughput of around 16 million mt in 2023, according to a close source with the refinery. As a result, oil products output is estimated to rise 1.6% from 2023 to around 451 million mt in 2024.
  • What if China's refining capacity expansions end?
  • Overcapacity in the refining sector would remain an issue despite the wave of capacity expansions ending, because China's demand for refined products is likely to peak at 400 million mt/year (8.67 million b/d) in 2024 or slightly later in 2025.