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China’s New CDU Capacity Estimated to See 80m mtpa in Next Three Years

OIL

China’s new CDU capacity is expected to reach 80m mtpa in the next three years, following the commissioning of 100m mtpa of new capabilities over the last five years, according to OilChem.

  • As of November 2023, there was a total of 162 refineries operating in China, with a total CDU capacity of 984m mtpa, down 0.18% on the year.
  • All new CDU capacities must have a capacity of 10m mtpa or more.
  • China’s CDU capacity is set to peak in 2025 and then reduce to 993m mtpa by 2028.
  • The proportion of total CDU capacity is set to rise to 39% in 2027.
  • China’s refined oil consumption is likely to see little growth, with gasoline consumption thought to have already peaked in 2023 and gasoil maintaining negative growth.
  • As Teapots will struggle to reconfigure their yields, they will likely cut production.
Energy BulletsCommodities
Energy BulletsCommodities

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