Business Week: China’s Refining to Rise, Boosting Crude Purchases

“China, the world’s second-largest energy consumer, may boost refining capacity by more than 10 percent by 2014, leading to gains in crude imports, according to calculations based on estimates by Poten & Partners. China’s capacity to convert crude into petroleum products may rise to more than 7.5 million barrels a day from less than 7 million barrels a day last year, according to a report by the U.S. energy consultant last week. ‘The Chinese government’s efforts to discourage the import of refined petroleum products is most prominently by supporting rapid growth in China’s domestic refining sector,’ Poten said.”