Refining capacity increases belie cutbacks

摘要

Chinese oil firms are scaling back their refining expansion plans on a big scale. But state-run firms’ so-called conventional refining capacity will still grow this year at a faster pace on a net basis than independent capacity. Conventional refinery expansions this year will be smaller than in 2011, when state-run firms added 170,000 b/d of capacity. The only new capacity due on stream in 2015 is a 100,000 b/d crude unit at state-controlled oil firm Sinopec’s 130,000 b/d Jiujiang refinery in southeast China’s Jiangxi province. Independent, or “teakettle”, refiners are adding 430,000 b/d of capacity, but shutting an almost equivalent amount of outdated capacity (WPA, 24 July, p6).