China`s Surplus Oil Refining Capacity to Hit Record in 2020

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China’s refining capacity will grow to 880 million tonnes a year. equivalent to 17.6 million barrels per day. by 2020. 14 percent higher than 2017. a senior researcher from oil company CNOOC said on Tuesday. Reuters reports.

This will exceed demand for fuels by the world’s largest energy consumer. creating surplus refining capacity of 136 million tonnes a year. Xu Yugao. director general. policy research office at CNOOC. said at the Asia Pacific Petroleum Conference (APPEC).