Crude-oil consumption in China will rise 5% to 8.4 mln bpd in 2009, a per International Energy Agency (IEA). In an effort to reduce dependence on fuel imports, China Petroleum & Chemical Corp (Sinopec) is set to outlay US$2.2 bln for expansion of petrochemical and refining plants in Central China. Sinopec is expected to expand the Changling refinery while upgrading the Baling chemical plant both located in Hunan province. By 2010, the refining capacity at the Changling refinery is set to grow two times to 10 mln mtpa whereas its Baling plant will source feedstock from Changling into chemicals.
23-Oct-08 
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