China's primary crude processing capacity will reach 578 million tons this year, a recent report by CNPC Economics & Technology Research Institute has shown.
This year's apparent consumption of refined oil will rise by 6.4 percent year-on-year and reach 278 million tons, while the crude oil processing volume is estimated to reach 470 million tons, up 5.4 percent year-on-year.
China's apparent consumption of oil will reach 493 million tons this year, up 5 percent year-on-year.
Apparent consumption represents the sum of net imports and output.
Source: Global Times