China to upgrade automobile emission standards by 2011

In line with a recently released stimulus plan for the petrochemical industry, China announced it will upgrade its gasoline and diesel emission standards to Euro III. The stimulus plan will focus mostly on the refining industry, as only an estimated 15% of its tradable output of gasoline and diesel meets Euro III specifications. The source added that Gaoqiao Petrochemical would begin supplying Euro IV standard gasoline and diesel to Shanghai from October 1. Market analysts said they foresee that the requirement will exert pressure on privately-run refineries that will need to invest in upgrading their facilities. Meanwhile, China aims to produce 247.5 million tons of oil products and 15.5 million tons of ethylene with a crude run of 405 million tons by 2011. (May 19/25, 2009)