Asia/Pacific News
PetroChina to Close 410,000 b/d Chinese Refinery Next Year
Monday October 28, 2024
Chinese energy company PetroChina is reportedly set to close a 410,000 b/d refinery in the north of the country next year.
The firm will close its Dalian facility -- the largest in the region and representing 3% of total Chinese refining capacity -- in mid-2025, news agency Reuters reported on Monday, citing sources familiar with the situation.
The company plans to replace it with a new 200,000 b/d refinery at Changxing island.
The current plant has seen a series of environmental accidents over the past decade, and is located in a heavily populated area.
Chinese fuel demand has weakened recently in the face of slower economic growth and increased use of electric road vehicles.
