China's private refineries will expand their refining capacity.

The Deputy CEO of Shandong Jingbo Petrochemical Co., Ltd., one of China’s largest privately owned refineries, stated that the total refining capacity of private refineries in Shandong Province alone has already reached 11 million tons per year, with an ambitious goal to add another 8 million tons annually. While he did not provide a specific timeline, he noted that expanding refining capacity will benefit China’s imports of light, low-sulfur crude oil, as refineries aim to boost production of higher-value products to meet growing domestic demand.

Release date:

2017-03-10

　　The Deputy CEO of Shandong Jingbo Petrochemical Co., Ltd., one of China’s largest privately owned refineries, stated that the total refining capacity of private refineries in Shandong Province alone has already reached 11 million tons per year, with an ambitious goal to add another 8 million tons annually. While he did not provide a specific timeline, he noted that expanding refining capacity will benefit China’s imports of light, low-sulfur crude oil, as refineries aim to boost production of higher-value products to meet growing domestic demand.

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