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China refinery capacity ranks second in the world

17:08, May 12, 2010    By People's Daily Online

China's crude oil one-off processing capability has achieved 477 million tons by the late 2009, ranking second in the world. China National Petroleum Corporation (CNPC) and China Petroleum & Chemical Corporation (CPCC) together representing 27 percent of the total refinery mills and 76 percent of the gross refining capacity.

Data from CPCC shows that in the last 10 years China's refining capacity increased 72.8 percent with a 6.3 percent average annual growth. As China's biggest oil refining enterprise, CPCC has ranked third in the world next only to Exxon Mobil and Shell. Whereas CNPC, China's second largest oil refining provider has also developed to the eighth largest refiners worldwide.

The two oil giants, though own only 27.2 percent of China's refinery mills, have taken up 76.8 percent crude oil one-off processing capability in the market.

The China's crude oil refining industry presents a competitive situation of a multi-outlet market, insiders from CPCC said. The general flow of refined oil are mainly shows a North to South and West to East structure.

It is also reported that China already has 17 bases of ten million tons refining capacity and other more bases alike are being planned and constructed.

National Development and Reform Commission (NDRC) has planned that China will build 20 crude oil processing bases of ten million tons capacity which account for 65 percent of the gross. Meanwhile, the average capacity of enterprises will rise to 5.7 million tons per year.    (Extracted By Sean)