China's refiners face massive overhaul, expansion to meet demand growth, new crude slate

Journal Article · Mon May 09 04:00:00 EDT 1994 · Oil and Gas Journal; (United States)

OSTI ID:7031828

China's refining industry has embarked on a massive overhaul and expansion to accommodate soaring domestic growth in refined products demand. Currently that growth in demand is being met by increasing imports of refined products, in recent years attaining triple digit growth rates and squeezing direly needed foreign exchange. The focus is on adding refining capacity of about 1.4 million b/d to the current capacity of about 3.2 million b/d by 2000. Priority for increasing capacity is being given to expanding existing refineries and participating in foreign joint venture grassroots refineries along China's booming coastal regions as well as hiking output. A major challenge for China's refineries is that country's reentry into the General Agreement on Tariffs and Trade (GATT), recently signed in Morocco by more than 100 nations. The accompanying reduction of tariffs on imported refined products will make it more difficult for China's marginal refineries to compete in the domestic market. The paper discusses imports and exports, LPG outlook, refining capacity, revamps needed, third party processing, China's first joint venture refinery, industry plans, and GATT challenges.

• OSTI ID: 7031828
• Journal Information: Oil and Gas Journal; (United States), Journal Name: Oil and Gas Journal; (United States) Vol. 92:19; ISSN OIGJAV; ISSN 0030-1388
• Country of Publication: United States
• Language: English

Related Subjects

02 PETROLEUM
020700* -- Petroleum-- Economics
Industrial
& Business Aspects
ASIA
CAPACITY
CHINA
DEMAND
ENERGY DEMAND
FLUIDS
INDUSTRIAL PLANTS
LIQUEFIED GASES
LIQUEFIED PETROLEUM GASES
LIQUIDS
MODIFICATIONS
NATURAL GAS LIQUIDS
PETROLEUM PRODUCTS
PETROLEUM REFINERIES
PLANNING