CNPC: China’s oil demand forecast to rise by 4.8%

China National Petroleum Corp. (CNPC) said that a strengthening economy will cause a 4.8% increase in China’s oil demand, which would include crude processing and net imports of refined fuel products, to 514 million tons this year.
 
China’s largest oil company predicts that the annual crude throughput may increase by 5.4% to 489 million tons in 2013, while refining capacity may rise by 6.9% to 614 million tons a year. It also said that combined demand for gasoline, diesel fuel and kerosene will rise by 5.8% to 293 million tons this year. (January 31, 2013)