三级aa视频在线观看-三级国产-三级国产精品一区二区-三级国产三级在线-三级国产在线

USEUROPEAFRICAASIA 中文雙語Fran?ais
Home / Culture

Refining surplus a looming problem: Sinopec

By Lyu Chang | China Daily | Updated: 2014-03-07 08:19

China, the world's largest energy user, is likely to have a serious excess in refining capacity amid booming domestic demand for oil products, a senior oil executive said on Wednesday.

"The fate of China's steel industry today will be that of oil refining tomorrow," said Fu Chengyu, chairman of China Petroleum and Chemical Corp, also known as Sinopec, on the sidelines of the ongoing annual two sessions.

He warned that if the country doesn't address the problem of excess capacity in oil refining, the industry will soon have a serious surplus, similar to the one now existing in the country's iron and steel sectors.

The refinery capacity in China is expected to reach 740 million tons in 2015 and increase to 910 million tons in 2020 with an operating rate of only 67 percent, much lower than the 72-75 percent rate of the steel industry, according to Fu, also a member of the Chinese People's Political Consultative Conference.

As a result, the surplus in the industry will rise to a whopping 220 million and 300 million tons by 2015 and 2020, respectively. The refining capacity is forecast to overtake the growth of oil product consumption in the country in the same period, said a report released by the China Petroleum and Chemical Industry Federation (CPCIF).

The country had only a modest excess capacity-of about 6 million tons-back in 2009, when the refining capacity was about 227 million tons and domestic consumption totaled about 221 million tons.

China's booming auto sector, with its soaring demand for oil fuel, coupled with the country's rapid economic growth, were some of the reasons behind the refining industry's rising output.

Fu, head of the region's biggest refiner, noted that overcapacity also is rampant in small, local refineries, which suggests the government should call for the elimination of outdated ones.

He said there are about 100 small-sized oil refineries with an annual capacity of less than 2 million tons in some parts of China. With their relatively low competitiveness, they are adding to the nation's surplus capacity.

Experts said the excess refining capacity not only makes market competition more fierce, but it also is wasteful.

Making the picture worse is the fact that China, the world's biggest net importer of oil and a leading buyer of petrochemicals, also is facing surplus capacity in chemicals, Fu said.

China's chemical industry has grappled with overcapacity for a long time. But this year will be the sector's toughest in quite a while.

Fu said consumption in the chemical industry is growing by 4 to 5 percent each year, with prices dropping sharply. He said he hoped that export tariffs could be lowered to give chemical producers a competitive edge in the global market.

During the first quarter, prices of chemical products slid, pushing industry profitability to its lowest level since the second quarter of 2009.

"We need to promote a healthy industry, one not built up by injections of money," Fu said.

Yao Jing contributed to this story.

(China Daily 03/07/2014 page17)

Today's Top News

Editor's picks

Most Viewed

Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 亚洲在线播放视频 | 亚洲精品午夜国产va久久成人 | 国产日韩视频在线 | 久久久精品影院 | 欧美日韩在线网站 | 中国黄色www | 久久久久久久久国产 | 国产免费小视频在线观看 | 日韩美女人体视频免费播放 | 国产亚洲综合久久 | 中文字幕日韩精品一区口 | 久久中文字幕美谷朱里 | 国产一区二区三区亚洲综合 | 午夜激情影院 | 久久久久久免费一区二区三区 | 中文字幕 日韩有码 | 欧美毛片aaa激情 | 韩日一级毛片 | 一级做a爱过程免费视频时看 | 一级黄色片美国 | 丁香婷婷综合网 | 视频一本大道香蕉久在线播放 | 成年片美女福利视频在线 | 免费黄视频网站 | 香港一级a毛片在线播放 | 日本不卡中文字幕 | 草草视频在线播放 | 国产三级日本三级日产三 | 美国黄色片网站 | 直接看毛片 | 亚洲精品一区henhen色 | 欧美亚洲国产视频 | 精品视频一区二区三区免费 | 欧美一级视频在线高清观看 | 久久精品嫩草影院 | 黄色大片影院视频免费 | 欧美日韩国产另类在线观看 | 草草在线观看 | 精品国产亚洲一区二区三区 | 最新国产精品视频免费看 | 一级片小视频 |