Page 19 - சீனா தேசிய பெட்ரோலியம் கார்ப் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Nicolas DuPuis, CME Group AT A GLANCE Economic growth returned to China in late 2020, and with it came capacity expansion for oil refineries Four Chinese refinery projects in development could make up more than the entire capacity of the UK In the global refining industry, COVID-19 has exposed a seismic shift.  While China’s oil refineries forge ahead with capacity expansion, many western-based refiners have retrenched. As China again hits the stimulus pedal, this year it is expected to officially surpass the U.S. as the world’s largest oil refiner according to the International Energy Agency (EIA). This can be partly explained by China’s head start in recovering from the pandemic. While much of the world remains under varying states of lockdown, China’s economic growth hit 6.5% in the fourth quarter of 2020, meaning that it grew 2.3% for the full-year. It is the only major economy to have expanded in 2020.

Hong kongUnited kingdomSouth koreaNicolas dupuisWood mackenzieChina national petroleumInternational energy agencyChina petrochemical corp sinopec groupRystad energyWhile chinaPresident bidenChina national petroleum corpTechnology researchChina petrochemical corpSinopec groupAmur gas chemical complex