China’s oil refining capacity is growing rapidly, with projects involving tens of millions of tons of annual capacity scheduled to come online in the next few years, even as global giants cut back due to sluggish demand.
In Depth: Rush to Expand China’s Oil Refining Capacity Raises Specter of Supply Glut
Domestic demand can’t keep up and the nation’s traditional export markets are growing more competitive
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- Heavy machinery pumps oil from an oilfield on Nov. 27 in Daqing, Northeast China’s Heilongjiang province.
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