China’s build-up of oil refining capacity is threatening the viability of other Asian refiners as the country is about to become the world’s largest refiner this year amid still depressed demand for fuels. Bloomberg reports that the refining capacity of the country has increased threefold over the last 20 years and is on track to exceed the refining capacity of the United States this year as more new refineries come online.
China had 1.4 million bpd in new refining capacity under construction as of November last year. This amount, distributed…China's Refiners Are An Existential Threat To Regional Competitors
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