,Chevron oil refinery in U.S.Telegram分享群组（www.tel8.vip）是一个Telegram群组分享平台。Telegram分享群组包括Telegram分享群组、telegram群组索引、Telegram群组导航、新加坡telegram群组、telegram中文群组、telegram群组（其他）、Telegram 美国 群组、telegram群组爬虫、电报群 科学上网、小飞机 怎么 加 群、tg群等内容。Telegram分享群组为广大电报用户提供各种电报群组/电报频道/电报机器人导航服务。
NEW YORK: As gasoline prices soar and the United States considers invoking Cold War-era laws to boost production, there’s a massive pool of oil refining capacity on the other side of the Pacific Ocean that’s sitting idle.
Around a third of Chinese fuel-processing capacity is currently out of action, as Asia’s largest economy struggles to put the coronavirus behind it.
If tapped, the extra supply of diesel and gasoline could go a long way to cooling red-hot global fuel markets, but there’s little chance of that happening.
That’s because China’s refining sector is set up mainly to serve its mammoth domestic market. The government controls how much fuel can be sent abroad via a quota system that also applies to privately owned companies.
And while Beijing has allowed more shipments at times over the years, it doesn’t want to become a major oil-product exporter as that would run counter to its goal of gradually decarbonising the economy.
“China’s absence in the export market is keenly felt in the broader regional, and even global market,” said Jane Xie, a senior oil *** yst at data and *** ytics firm Kpler.
There’s been a massive expansion in refining capacity in the country over the last three to five years, but that’s no longer translating into increased oil-product exports, she said.
The contrast between China and the United States – where refineries in some areas are running at close to full capacity – reflects a tectonic shift in the industry over the last few years.
European and North American plants have been shutting down, a trend that was accelerated by Covid-19, while most new facilities are being built in the developing world, particularly Asia and the Middle East.
In China, many of the new plants are mega-refineries, which have the flexibility to produce both fuels and petrochemicals. The rapid growth means China may already be the world’s biggest refiner, with 17.5 million barrels a day of capacity at the end of 2020, reaching 20 million by 2025. — Bloomberg
转载说明:本文转载自Sunbet。 Allbet Gaming声明:该文看法仅代表作者自己，与www.allbetgame.us无关。转载请注明：Telegram分享群组（www.tel8.vip）_Massive oil refining capacity idle in China as prices soar