Free Trial
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
OIL
CDU capacity at China’s independent refineries is likely to peak by 2025, according to OilChem.
- Industry upgrading, removing outdated capacity, and falling refined oil demand are all factors likely to drive the peak in capacity, OilChem said.
- China has been upgrading or eliminating outdated capacity since 2017. In addition, only projects with CDU capacity greater than 10m mtpa can gain approval.
- Domestic CDU capacities in China should see an additional 55-60 mt online in the next five years, while 40m mt will go offline.
- Following this, a changing demand picture will impact refinery capacity more than feedstock availability, with carbon reduction and the green transition impacting consumption of some products and causing smaller refineries to close.
Source: OilChem
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
We are facing technical issues, please contact our team.
ok
Your request was sent sucessfully! Our team will contact you soon.
ok