China's deregulation, expansion not enough to restore market balance

Haijiang Henry Wang Energy Security Analysis Inc. Washington, D.C. Southern China's Maoming refinery in Guangdong province is unable to keep up with local products demand despite a massive modernization program. Soaring refining products demand in China's booming southern provinces helps keep a prop under ever-rising products imports. Oil Production and Net Exports Diesel Production, Consumption, and Net Exports The platform shown lies in the offshore portion of Sheng* oil field, China's second biggest producing area. The combination of declining production in Sheng* and refinery expansion in the surrounding Shandong province has resulted in e...

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