China will add nearly 100 million tons of crude oil processing capacity
In 2010, the Chinese refining industry significantly expanded its crude oil processing capacity by adding over 90 million tons, while simultaneously phasing out approximately 20 million tons of inefficient refining capacity. This development was outlined in the "Special Plan for the Medium and Long-term Development of the Refining Industry," which was officially released by the National Development and Reform Commission on March 16th. The plan had previously been approved by the State Council's executive meeting in January, marking a key step in China's strategy to modernize and optimize its refining sector.
According to the plan, by that time, China aimed to establish more than 20 major crude oil processing bases, each with strong market competitiveness. These facilities were expected to account for 65% of the country’s total refining capacity. Additionally, the average size of refining enterprises was projected to reach 5.7 million tons, reflecting a significant improvement in scale and efficiency. This shift was seen as a major step toward enhancing the overall competitiveness of the domestic refining industry.
While the oil refining sector largely met the demand for refined petroleum products domestically, it still relied on imports of certain chemical light oils to support the downstream petrochemical industry. This highlighted the need for a more diversified approach to oil imports. At the same time, the plan emphasized the importance of diversifying China's energy consumption structure by promoting the use of natural gas as an alternative to diesel in peak power plants, as well as for use in gas-powered vehicles and alcohol-based fuels. These initiatives aimed to reduce dependency on traditional fossil fuels and support long-term energy sustainability.
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