Growing Chinese refinery capacity could boost tonne-mile demand
ICAP expects over 800,000 bpd of new crude distillation capacity to have been added by end 2009, including: • new CNOOC refinery Daya Bay — 240,000 bpd • Fujian Refining and Petrochemical plant expansion — 160,000 bpd • PetroChina Dushanzi refinery expansion — 80,000 bpd • new Liaonin Huajin Chemical Industry Group refinery — 100,000 bpd • PetroChina Fushun refinery expansion — 46,000 bpd • Petrochina Qinzhou refinery expansion — 200,000 bpd Projects understood to be completed in 2010: • Sinopec expansion of Tianjin refinery — 176,000 bpd • Sinopec expansion of Changling refinery in Yueyang — 100,000 bpd • Sinopec Wuhan refinery expansion — 30,000 bpd • Sinopec Qilu refinery expansion in Shandong — 160,000 bpd • new PetroChina refinery in Sichuan expected — 200,000 bpd