Refineries for national oil companies (NOCs) in China and India continued to expand capacities as 2010 closed. Japanese refiners, on the other hand, headed into a second round of capacity reductions.
These are among the conclusions in a study of Asian refining by FGE-FACTS Global Energy, Honolulu.
The study also said up to 5 years will pass before any new major capacity will be commissioned by Asian refiners, securing crude from the Middle East is becoming more important for Asian refiners, and conversion capacity is added far more quickly than primary distillation capacity in the Asia Pacific.
FGE-FACTS said China will add about 6 million b/d of new refining capacity from the st...