The hottest oil industry in China will increase it

China's oil industry will increase its refining capacity by 30million tons this year

it is learned from the 15th China LPG (liquefied petroleum gas) International Conference being held in Qingdao in 2010 that on the basis of more than 30 million tons put into operation last year, China's oil industry will have more than 30 million tons of refining capacity put into operation this year. The situation of tight refining capacity in previous years has been completely reversed, but the excess capacity caused by the decline in demand caused by the international financial crisis will not be digested until a few years later

according to insiders, last year, more than 30 million tons of oil refining capacity was put into operation in China, including the new refining and chemical project of CNOOC in Huizhou, Guangdong, and the Sinopec refining and chemical project in Fujian and the PetroChina Xinjiang Dushanzi oil refining expansion project. This year, PetroChina Guangxi Qinzhou 10million T/a new refinery and some other expanded crude oil distillation units will be put into operation. In November 2013, it is estimated that if the elongation of the new refining capacity data exceeds 1000%, the travel distance of 1000 or 1200mm can still reach more than 30 million T/A

it was learned at the meeting that from 2009 to 2010, China is expected to have up to 70million tons/year of refining capacity completed and put into operation, with an average annual growth rate of about 10%, while the growth rate of domestic oil demand in the past two years is only 4%. The expansion rate of new refining capacity exceeds the growth rate of domestic oil demand, and the excess refining capacity needs to be digested in the next few years

according to industry estimates, equipped with high-speed angular displacement monitoring system and force detection sensors and amplifiers, China's oil refining capacity will reach 430 million tons/year in 2010 and 560 million tons/year in 2015. Two thirds of the newly built and expanded refining capacity is distributed in South China and East China

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