Asia’s refining capacity to hit 3-year high in 2017
by ChemOrbis Editorial Team - content@chemorbis.com
According to media reports, Asia’s refining capacity will see a big jump in 2017 by 450,000 barrels/day, which is the highest level since 2014, thanks to the start-up and upgrades of new refineries.
Accordingly, China National Offshore Oil Corp (CNOOC) will reportedly start up a new refinery with a capacity of 200,000 barrels/day and PetroChina is expected to refine 260,000 barrels/day in Yunnan. Chinese independent refiners’ imports will also increase by 200,000-400,000 barrels/day while Taiwan’s demand in Talin refinery will rise by 100,000 barrels/day.
Meanwhile, Vietnam is expected to start up a new refinery with a capacity of 200,000 barrels/day and India’s Bharat Petroleum Corp Ltd is planning a 210,000 barrels/day expansion in Kochi.
In order to meet the oil demand of Asia, Iraq signed Basra Heavy deals, Iran will start up a pipeline and a terminal to export crude to West Kharoon and Kuwait will restart production from oilfields, which are jointly operated with Saudi Arabia, the reports revealed.
Accordingly, China National Offshore Oil Corp (CNOOC) will reportedly start up a new refinery with a capacity of 200,000 barrels/day and PetroChina is expected to refine 260,000 barrels/day in Yunnan. Chinese independent refiners’ imports will also increase by 200,000-400,000 barrels/day while Taiwan’s demand in Talin refinery will rise by 100,000 barrels/day.
Meanwhile, Vietnam is expected to start up a new refinery with a capacity of 200,000 barrels/day and India’s Bharat Petroleum Corp Ltd is planning a 210,000 barrels/day expansion in Kochi.
In order to meet the oil demand of Asia, Iraq signed Basra Heavy deals, Iran will start up a pipeline and a terminal to export crude to West Kharoon and Kuwait will restart production from oilfields, which are jointly operated with Saudi Arabia, the reports revealed.
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