China's NDRC issues new guidelines for foreign investments in refining sector.

摘要

Restrictions on foreign investments in domestic refinery projects were tightened while foreign capital for unconventional resources development is encouraged under new guidelines put forth by China's National Development and Reform Commission. New foreign investments in the refining sector will only be permitted if crude distillation capacities are above 10MM mt/y (20IK b/d), reformers are above 1MM mt/y (20.IK b/d), steam crackers are above 800K mt/y, and catalytic crackers and hydrocrackers are over 1.5MM mt/y (30.1K b/d). The previous guidelines that were issued in late 2007 did not allow for foreign investment in refinery projects with less than 8MM mt/y (161K b/d) in CDU capacity.