China's CNOOC to launch refinery expansion
China National Offshore Oil Company (CNOOC) is slated to launch an upgraded joint-venture refinery complex around June, marking the state-controlled producer's further expansion into refining and
Shandong Yulong Petrochemical is set to begin trial runs at its second 200,000-barrels-per-day crude processing unit, potentially boosting China's crude oil imports, despite recent slumps.
spglobalChina's reshaping of refining sector in line with new S&P
To cap refining capacity at 20 mil b/d by 2025 Set minimum capacity of new refinery at 200,000 b/d Phase out capacities of less than 40,000 b/d China's refining sector is being
China's economic structural transformation and the rapid rise of renewables will make 2025 a turning point for the country's refined oil market, with demand set to shrink for the first time
Insights GlobalExplainer: China Imposes Growth Limits on Vast
China has set a minimum size for new oil refineries and will ban small crude processors that claim to be chemicals or bitumen producers under a plan to limit total capacity at 1 billion metric tons, or 20 million barrels per
Petchems lead China's demand expansion § In the last few years, China's oil demand growth has been led by naphtha and LPG, driven mainly by the petrochemical sector. § Between 2019 and
A critical minerals perspective on the emergence of geopolitical trade
Section 4 proceeds to analyse the Minerals Security Partnership (MSP), a Washington-inspired and led strategic initiative, which seeks to consolidate trade and investment in critical
12% of China's oil imports already settled in RMB (vs 2% in 2020) Potential for RMB-denominated pricing in key commodities like: Lithium (China controls 65% of global refining) Rare
Oxford Institute for Energy StudiesTariffs, China's Petrochemicals Sector, and China-GCC Oil
Petchems lead China's demand expansion § In the last few years, China's oil demand growth has been led by naphtha and LPG, driven mainly by the petrochemical sector. § Between 2019 and
China's economic structural transformation and the rapid rise of renewables will make 2025 a turning point for the country's refined oil market, with demand set to shrink for the first time
China Is Quickly Becoming The World's Largest Refiner
IEA: China is on its way to becoming the country with the greatest oil refining capacity in the world. China overtook the United States to become the world's largest refiner last year.
; Dahl, 1993).As crude oil substitution in pillar
tradewindsnewsHow US-China trade war could reshape major tanker shipments
Nigeria could be in line for more US oil shipments. With Washington and Beijing locked in a trade war, BRS Shipbrokers said global oil trading patterns would shift, because the
The deterioration in US-China relations has fundamentally reshaped global oil trade flows. US crude exports to China plummeted from 450,000 bpd in 2022 to a mere 45,000 bpd by
Looming Oil Glut to Reshape Global Energy Landscape
A report this week from the World Bank has set off alarm bells about a coming oil glut that has the potential to seriously disrupt global economics and trade patterns. "Next year, the
China is trying to reshape global supply chains While tariffs and trade relations may change over time, an expanding global production network creates more robust channels of
- What if China's refining capacity expansions end?
- Overcapacity in the refining sector would remain an issue despite the wave of capacity expansions ending, because China's demand for refined products is likely to peak at 400 million mt/year (8.67 million b/d) in 2024 or slightly later in 2025 .
- Will China's refiner expansion boost crude oil imports?
- Shandong Yulong Petrochemical is set to begin trial runs at its second 200,000 bpd crude processing unit, increasing China's refining capacity. This expansion could lead to a boost in China's crude oil imports, despite recent declines. The refiner has been diversifying its crude sources, increasing purchases from West Africa and Brazil.
- What is China's target for crude oil refining in 2025 ?
- For example, the key target of the guidelines -- keeping the country's primary refining capacity for crude oil to below 1 billion mt/year (20 million b/d) by 2025 -- was introduced in October 2021 as part of China's action plan to peak carbon emissions by 2030.
- Will China's refining capacity increase in 2024?
- Getting your Trinity Audio player ready... China's refining capacity would likely rise 2.7% year on year to 961 million mt/year in 2024, or 19.3 million b/d, exceeding the year-on-year growth in throughput that was estimated at 1.8%, according to a report by state-owned CNPC's Economics & Technology Research Institute Feb. 28.
- Will 2024 be a turning point for China's refined oil market?
- A drilling platform in Kaiping South Oilfield in the South China Sea in December 2023. [Photo/Xinhua] China's economic structural transformation and the rapid rise of renewables will make 2024 a turning point for the country's refined oil market, with demand set to shrink for the first time, industry experts say.
- Is China's refining sector being reshaped?
- China's refining sector is being reshaped in line with new guidelines for the industry on green development, which was released by the National Development and Reform Commission Oct. 25, refining sources and analysts told S&P Global Commodity Insights Oct. 26.
