CNPC to supply 40% of petroleum market by 2010

China National Petroleum Corporation (CNPC) intends to build six ten-million-ton oil refinery bases by 2010 on May 6. With a total processing capacity of 160 million tons annually, CNPC would account for 40% of China’s total oil refining capacity by 2010. The oil producer also projected to build 18 ten-million-ton oil refinery bases by 2020, which would have a yearly production capacity of 300 million tons (including 150 million tons for sour crude oil), amounting to 45% of the nation’s total. Up till now, CNPC has the nation’s biggest refinery that has a production capacity of 20.5 million tons in Dalian, a coastal city in Liaoning Province. (May 8, 2008)