Related Articles
Forward article link
Share PDF with colleagues

China’s refining recovery looks set to stall

Crude oil throughput at refineries broke records in October, but the market will not fully get back on track until next year

China’s refineries were busy in October as they processed record volumes of crude oil to keep up with strong holiday-driven demand. But the near-term outlook appears challenging as domestic overcapacity will continue to grow while overseas demand will remain weak. Crude oil throughput at Chinese refineries last month reached a highest-ever level of 59.82mn t, up 2.6pc from a year ago and equivalent to 14.15mn bl/d, according to figures from China’s statistics bureau released on Monday. That compares with 14.01mn bl/d in September and topped the previous record of 14.14mn bl/d set in June. Petrol and diesel demand picked up last month as more motorists hit the road for long-distance driving

Comments

Comments

{{ error }}
{{ comment.comment.Name }} • {{ comment.timeAgo }}
{{ comment.comment.Text }}
Also in this section
Oil-dependent developing nations face huge shortfall
25 February 2021
The energy transition means that countries such as Nigeria and Ecuador will suffer falling revenue and need to start preparing a strategy
Necessity drives Iraq’s decarbonisation plans
25 February 2021
Chronic, acute power shortages are spurring efforts to develop renewables and capture flared gas
Greening the LNG supply chain
25 February 2021
The deal between Pavilion and Petroleum Trading illustrates how creating offset-ready arrangements will impact trading relationships and legal risk allocation
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Social Feeds
Featured Video