Government will shape China`s refining boom
- Energy Security Analysis Inc., Washington, DC (United States)
China`s refining system is undergoing a major overhaul. New refineries are being built as existing ones are upgraded and expanded. The success of refineries funded completely or partially by non-chinese companies will depend in part on Chinese government policy. There will be demand for products from third-party processing facilities, but hard current is necessary for the investors to repatriate profits and for china Petrochemical Corp. (Sinopec) to bid on the products from such facilities. The limited convertibility of chinese current constitutes a major central control over the country`s entire economy. This control can be affected by limiting product exchange participants and the volumes to be traded. Such a limitation, however, will reduce access of non-Chinese companies to China`s markets, and is not likely to occur in the next 10 years. The paper discusses the current situation in capacity and in refining, capacity, expansion, refinery planning, construction projects, third-party processing, and the prospects for change.
- OSTI ID:
- 46083
- Journal Information:
- Oil and Gas Journal, Vol. 93, Issue 19; Other Information: PBD: 8 May 1995
- Country of Publication:
- United States
- Language:
- English
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