China's 2015 crude refining capacity may rise 50%

China’s installed crude refining capacity is likely to jump by almost 50% to 750 million metric tons per year (MTPY) by the end of 2015 to meet the rising energy demand of its fast-growing economy, Chinese state-owned integrated oil group China Petrochemical Corp. Group (Sinopec Group) said in a report. It said China’s refining capacity was expected to reach 507.5 million MTPY by the end of 2010, a rise of 6.4% from a year ago. This year, the world’s second largest oil consumer is expected to add 30.5 million MTPY of new refining capacity, including the new 10 million MTPY Qinzhou refinery developed by Chinese oil giant PetroChina in southwestern Guangxi Zhuang autonomous region, according to the report published in the group’s newsletter China Petrochemical News. Crude throughput of Chinese refineries would reach 405 million metric tons next year, producing 248 million metric tons of oil products, the newsletter said. (May 25, 2010)