China to surpass US as world's top refiner in 2022 with 18.8 mil b/d capacity: ETRI

China’s refining capacity is expected to hit 937 million mt/year, or 18.81 million b/d, overtaking the US to become the world’s top refiner in 2022, the country’s oil giant CNPC’s Economics & Technology Research Institute said on April 12. At the same time, the refining sector is facing the headwind of high feedstock prices amid ...

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