PetroChina plans to close its largest Dalian refinery in 2025 due to overcapacity and declining demand.

PetroChina plans to close its largest refinery in Dalian by mid-2025 due to overcapacity and declining fuel demand amid slowing economic growth and increased electrification of vehicles. The Dalian Petrochemical plant, which processes 410,000 barrels per day, represents 3% of China's refinery output. A new $9.84 billion refinery and chemical complex is proposed for Changxing Island, featuring a smaller 200,000 bpd facility, though the project is still in the pre-feasibility stage.

October 28, 2024
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