China looks to 12MM b/d capacity by 2015 under new five-year plan.

摘要

Under its 12th fiver-year plan, China will target a refining capacity of 600MM mt/y (12MM b/d) by 2015, with ethylene production at 27MM mt/y and paraxylene at 12MM mt/y, according to the Ministry of Industry and Information Technology. CNPC estimates China's total nameplate refinery capacity will reach 578MM mt/y (11.6MM b/d) this year. "The development plan calls for refineries to be close to the market, close to the resources, easy to transport, be able to alleviate the 'uneven nature' of regional oil production and marketing, encourage crude oil and refined oil pipeline construction, and improve the situation of having to transport oil produced in the North to the South," the ministry said.