makes progress in oil refining capacity cuts--IPE
BEIJING has made progress in closing down outdated oil refining production capacity, Zhou Zhuye, vice-chairman of Petroleum and Chemical Industry Federation, said Wednesday. Over the past two years, the country has cut 61.6 million tons of oil refining capacity, accounting for nearly one-tenth of the country's total capacity of
National Petroleum Corp's Economics and Technology Research Institute forecast that China's surplus oil refining capacity will continue to increase this year with more private refinery
makes progress in oil refining capacity cuts
makes progress in oil refining capacity cuts Updated: Nov 16,2025 9:03 AM Xinhua BEIJING — has made progress in closing down outdated oil refining production capacity, Zhou Zhuye, vice chairman of Petroleum and Chemical Industry Federation, said on Nov 15.
The share of oil-gas in China's primary energy structure would be 32 percent and 35 percent, respectively, by 2035 and 2050, the center said, predicting the ratio of oil consumption would peak at 2030. aims to increase crude oil output to 200 million tonnes by 2025, while supply capacity for natural gas should exceed 360 billion
Full report BP Statistical Review of World Energy 2018
This year’s Statistical Review introduces two changes in how oil and gas are reported in energy units. First, primary consumption of energy from oil is now reported in tonnes of oil industrial and residential sectors in China. But much more progress is needed. In particular, data included in this year’s refining capacity growth was
Business News. China's top oil company Sinopec cuts Saudi crude imports 5 May, 2025 05:29 . Get short URL or 73 percent on an annual basis as they expanded their refining capacity. This month, Sinopec will carry out regular maintenance across its refineries, so the lower import volumes will not urgently need a cheaper replacement, but
Tag: Oil Refineries Indonesia Investments
However, oil refining capacity only stands around 1.1 million bpd, implying that 43 percent of fuel consumption in Indonesia needs to be imported from abroad. Oil refining capacity today is roughly the same as it was 15 years ago, meaning that there has been limited progress in development of Indonesia's downstream oil industry.
Refining capacity expansion in has been enough to turn the country back into a net diesel exporter. are kept in business due to political pressure on oil companies from governments
Oman Merges Oil Companies to Create Refining-to
The largest Persian Gulf producer that's not an OPEC member is combining state-run oil investment and refining companies to form a business that
This year’s Statistical Review introduces two changes in how oil and gas are reported in energy units. First, primary consumption of energy from oil is now reported in tonnes of oil industrial and residential sectors in China. But much more progress is needed. In particular, data included in this year’s refining capacity growth was
- What will happen to China's oil refining capacity?
- China’s fuel demand may peak sooner than expected, which will reduce profit margins and force the closure of older, smaller, and less efficient oil refineries. As a result, up to 10% of China’s oil refining capacity could be shut down within the next decade, according to a Reuters report.
- Does China's refining industry have overcapacity?
- China’s refining industry, globally ranked second in size, underwent a period of expansion to leverage three decades of rapid demand growth. This expansion has resulted in a persistent issue of overcapacity, according to the report.
- Will China eliminate the smallest refineries in 2023?
- In 2023, Beijing signaled its intent to eliminate the smallest refineries by imposing a national refining capacity cap of 20 million barrels per day by 2025. This move effectively put weaker players on notice, as the current capacity is only slightly above 19 million barrels per day, according to the report.
- Why did China shut down Dalian refinery?
- Dalian represents 3 per cent of China's refinery capacity and shutting the site should cut into the country's world-leading crude imports. The closure follows refiners' struggle with overcapacity and weakened fuel demand from slowing economic growth and the electrification of the country's car fleet.
- Are Chinese refineries struggling?
- The clearest sign of the industry’s struggles is the poor operating rates of refineries. Chinese refineries operated at only 75.5% of their capacity in 2024, the second-lowest utilization rate since 2019 and significantly below the over 90% rate of US refiners, according to estimates from the consultancy Wood Mackenzie, Reuters said.
- Will China's oil quotas increase in 2025?
- Smaller operators, particularly those who rely on processing imported fuel oil and do not qualify for Beijing’s crude oil quotas, will face additional pressure in 2025. This is due to new tariff and tax policies which are expected to increase their costs, according to industry executives.
