China will complete the construction and expansion of several oil refining bases to achieve an annual refining capacity exceeding 50 million tons by 2010, according to information released from the 14th International Liquefied Petroleum Gas (LPG) conference held in Haikou, Hainan Province.
‘By the end of 2010, two oil refining plants built since the beginning of 2008 will be completed. CNOOC’s new plant in Huizhou, Guangdong Province, will have achieved an annual capacity of 12 million tons, while PetroChina’s plant in Qinzhou, Guangxi Province, will have achieved an annual capacity of 10 million tons. Meanwhile, six expansion projects begun in 2008 will have achieved an estimated annual refining capacity of 31.5 million tons in total. Last year, China saw refining volume of crude oil reach 342.07 million tons, a year-on-year increase of 3.7%.