China has announced plans to expand its oil refineries to keep pace with rising domestic demand, and to reduce its dependency on foreign fuel imports, reports the state-run Economic Observer.
By 2015, China aims to have 31 domestic refineries, each with a capacity to process 10 million tonnes of crude oil per year (equivalent to 220,000 barrels a day). This compares to just nine facilities with a similar capacity in 2006.
Under the so-called '31-30' expansion plan, the National Development and Reform Commission also expects to have 30 operating ethylene factories by 2015, each with an annual output of one million tonnes per year.
The newspaper added that Sinopec Group is planning around 20 refineries with a process capacity of 10 million tonnes of crude oil a year. PetroChina is said to be building 10 refineries of the same size.
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