What's news

Govt and policies

Refinery capacity sees substantial growth

China's oil refining capacity has increased significantly over the past few years, with annual refined oil output standing at 360 million metric tons at the end of 2018, statistics showed. As production ramped up, China has become the world's No 2 refinery country, next only to the United States in capacity, industry insiders and experts said at the ongoing 2019 Asia Downstream Technology& Markets Conference held in Lianyungang, Jiangsu province. The current global demand for oil products continues to grow due to increasing consumption in Asia, said John Paisie, president of Stratas Advisors, a global energy consulting firm.