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CHAPTER THREE
Arab And World Developments
A study conducted by FACTS Global Energy (FGE) showed
that China would be adding 5 million b/d of capacity by 2020. The
addition will raise the refining capacity countrywide to more than 16
million b/d.
Earlier 2013, trial production is expected to start at a new refinery,
which is being built by PetroChina in China’s southwest province of
Sichuan in the city of Pengzhou.
ChinaNational OffshoreOil Co. (CNOOC) started building a 60,000
b/d refinery in Taizhou City in Jiangsu province on the central eastern
coast of the country. The refinery is costing $1.6 billion. CNOOC
has another main refinery in Guangdong province with a capacity of
240,000 b/d and plans to add 200,000 to its capacity by 2014.
Earlier 2012, China National Petroleum Corporation (CNPC)
agreed with Petroleos de Venezuela SA (PDVSA) to build a joint
venture 400,000 b/d refinery to be completed in 2015 at a cost of
$8.3 billion.
Sinopec, Total and Kuwait Petroleum Corp. (KPC) signed a
preliminary agreement on a refining and petrochemical joint venture
in Zhanjiang, southern Guangdong province, China. The project
consists of a 300,000 b/d refinery integrated with petrochemicals
production units.
Also in March 2012, Sinopec announced its plan to double the
refining capacity of Luoyang refinery in central Henan province,
which has a nameplate capacity of 200,000 b/d.
Like what is going on in China, India has several refinery expansion
plans under way or envisioned. In 2011, India Oil Co. announced
plans to raise its refining capacity to 2.46 million b/d by 2020 via
