Insight
What is the future of refining in China?
Report summary
During the 14th Five-Year Plan period, China issued many policies on carbon emissions, which will pose considerable challenges to the refining industry. Challenges Domestic: China’s refineries are under pressure from domestic peak oil demand, surplus capacity and energy efficiency control. China’s government will restrict the overall refining capacity to 20 million b/d and enforce strict regulations to improve energy efficiency. External: China’s refining industry, which has a high carbon emissions intensity, will become less competitive with high levies in its key export markets after the implementation of carbon border adjustment mechanism (CBAM) in Europe. Actions Shift from transport oil towards petrochemicals and specialities. Collaboration, re-configuration or capacity replacement. Decarbonisation: Replacing fuel combustion with electrification and green hydrogen can significantly reduce the carbon intensity of refinery operations.
Table of contents
-
Executive summary
- Challenges
- Actions
Tables and charts
No table or charts specified
What's included
This report contains:
Other reports you may be interested in
Insight
Energy & Commodities Summit 2020 : APAC Virtual Edition
What does the crisis of 2020 mean for the future of energy?
$1,050
Insight
Energy & Commodities Summit 2020 - APAC Virtual Edition
What does the crisis of 2020 mean for the future of energy? The Energy & Commodities Summit APAC discussed challenges and opportunities.
$1,050
Insight
End of the road for China’s teapots - Asia's swing producers
Will China teapot refineries perform well in short term? what is the impact?
$900