China plans to expand petroleum refining capacity by 85mn metric tons by 2027, while optimizing 35mn tons of outdated capacity and promoting green energy transformation.
China is set to expand its petroleum refining capacity by 85mn metric tons from 2024 to 2027, with 35mn tons of outdated capacity optimized for high-quality development, according to industry experts. As the country continues to recover from the pandemic, it is simultaneously stepping up efforts to promote green and low-carbon transformation in the energy industry. The consumption of finished oil products is estimated to exceed 400mn tons in 2024, returning to the level of 2019.
April 16, 2024
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