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Sinopec Aims to Increase Crude Throughput by 3% in 2023


Sinopec aims to increase crude refinery throughput by 3% year on year in 2023 according to its 2022 financial results released March 26.

  • The company expects domestic demand for refined products and chemicals to grow rapidly with an overall upturn in economic performance in China.
  • The target is to increase 2023 crude throughput to 250m mt (5.03mb/d) up 3.2% from realized throughput of 4.88mb/d in 2022 but below 5.14mb/d in 2021. Refining capacity was 5.78mb/d at the end of 2021.
  • The aim is to increase oil product output by 4.3% year on year to 146m mt in 2023 compared to 146.21m mt produced in 2021.
  • Sinopec will lift the gasoline and jet fuel production yields with strong demand growth for transportation fuels.

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