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China’s oil output to scale new heights
New discoveries and stabilisation of legacy fields’ output have helped China reverse the decline and be a top-five producer in recent years
India to help Asia spearhead global refining
Shifting demand patterns leaves most populous nation primed to become downstream leader as China and the West retreat
US, Russia and China circle the Arctic
The strategic importance of vast untapped oil and gas reserves and key shipping routes has come in from the cold
Saudi Arabia and Russia pull OPEC+ in different directions
The two oil heavyweights’ diverging fiscal considerations are straining unity within the group
Cheap gas key to unlocking new markets
Weaning poorer regions off coal means gas needs to be abundant and competitive longer term
Do not underplay China’s long-term gas growth narrative
A subdued market amid global trade tensions is just an aberration in gas’ upward trajectory
China’s critical gas position
China will play a huge role in driving gas demand, with its Qatar partnership crucial to this growth amid global structural challenges
OPEC++, the sequel, has arrived
It is time to acknowledge that the US-Saudi Arabia nexus is driving a fundamental shift in OPEC strategy
Gas may be bridge fuel for centuries
Energy majors argue transition debate has started to factor in the complexities of demand shifts and the wider role for gas
China’s pragmatic coal-to-gas strategy
A cautious approach to coal-to-gas switching offers lessons to others who are looking to balance cost with cleaner energy
China Petrochemicals Saudi Arabia
David Whitehouse
30 June 2020
Follow @PetroleumEcon
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China faces refinery consolidation challenge

A new mega-refinery is meant to concentrate rather than expand capacity. But it may not work out that way, and may have other knock-on effects

China has committed to a new 400,000bl/d mega-refinery in Shandong to be built by 2024. And it plans to shut down an even greater capacity of smaller, less-complicated independent facilities, the so-called ‘teapot’ refineries to make room for the new plant without adding to the country’s refined products glut. But it remains to be seen if China can pull off this consolidation, or if at least some of the teapots marked for closure will cling on and lead to a capacity increase. On the assumption that clean air is a major driver behind the decision, Steve Hanke, professor of applied economics at John Hopkins University in Baltimore, is optimistic. The move will, in his view, be “transformationa

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