>Home>News Center>China
       
 

China to boost oil refinery capacity
(AP)
Updated: 2006-03-17 20:58

It described the domestic refining industry as "relatively backward and lacking in competitiveness compared with advanced world standards."

Ethylene output is to be boosted by up to 10.6 million tons annually, the commission said, with the construction of production bases in three industrial hubs: the Yangtze Delta, near Shanghai; the Pearl River Delta, near Hong Kong and the Bohai region, east of Beijing.

Last year China produced 7.55 million tons of ethylene, a chemical used in a wide range of products, such as plastics, that is in short supply domestically.

China National Petroleum Corp., the state-owned parent company of PetroChina, expects to develop offshore oil fields in the southern part of the South China Sea in the next five years, the China Daily reported, citing PetroChina vice president Hu Wenrui.

The project would be CNPC's first deep sea oil project, the report said.

It said the company had expected to install a well in the area by this year, but that the project might be delayed into 2007.

CNPC, China's biggest oil producer, hopes to find 2.5 billion tons (18.3 billion barrels) of crude oil reserves in the next five years, both onshore and offshore, the report cited Hu as saying.

New reserves are needed to replace stagnant output at older fields such as Daqing, in the northeast, it said.

Despite its exploration efforts, PetroChina expects its oil output to increase by only 1 percent from 2005 to 2010, to more than 107 million tons (781 million barrels), Hu was quoted as saying. But its gas output is forecast to surge 92 percent from 2005-2010 to 70 billion cubic meters.


Page: 12



Final rehearsal
Miss Tourism Queen International Pageant in Beijing
Su-27 fighters to perform stunts in Hunan
  Today's Top News     Top China News
 

Putin to discuss oil pipeline extension in Beijing

 

   
 

'Look at military spending objectively'

 

   
 

China supports UN human rights body

 

   
 

US says no to 'Taiwan independence'

 

   
 

Environment protection a major issue

 

   
 

US: Ready to use all options vs China on trade

 

   
  WTO: China should reconsider currency plan
   
  China: Military buildup 'transparent'
   
  US denies containment policy against China
   
  China: Population grew last year to 1.307b
   
  US: Ready to use all options vs China on trade
   
  Putin to visit China, oil pipeline on agenda
   
 
  Go to Another Section  
 
 
  Story Tools  
   
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement