In 2022, refiners in China processed less crude oil than they did in 2021, which was the first year-over-year decrease in processing according to data going back to 2000. Reduced refinery activity in China resulted from numerous factors, including mobility restrictions related to the COVID-19 pandemic and low petroleum product export quotas, said Hydrocarbonprocessing.
According to China’s General Administration of Customs, refiners in China processed an average of 13.5 MMbpd of crude oil last year, a 4% decrease from 2021's record high of 14 MMbpd. The 2022 reduction in crude oil processing was greatest from April through August, when refiners in China processed an average of only 12.5 MMbpd.
In 2022, refiners in China processed more crude oil early in the year and late in the year. In July, refiners processed the least crude oil (11.3 MMbpd) since January 2018. Refining in China reached its monthly record high of 15.1 million b/d in September 2022 before declining slightly and then rising to more than 14 MMbpd in November and December.
Less domestic demand for crude oil reduced refining activities in China last year. Demand for petroleum products in China declined in response to COVID-19 outbreaks and related mobility restrictions in major cities, including Shanghai. These restrictions significantly slowed China’s economic activity.
We remind, PetroChina completed trial runs at a 1.2 million tonne-per-year ethylene facility in its newly launched refinery complex in south China on Sunday. PetroChina Guangdong PC announced that the ethylene plant, a 10-million-ton refining and chemical integration project, produced on-spec products and entered the stage of comprehensive trial production on Feb 12. PetroChina Guangdong Petrochemical Refining and Chemical Integration Project, located in Jieyang, Guangdong Province, covers an area of 920 hectares, with crude oil refining production capacity of 20 million mt/year aromatics capacity 2.6 million tons/year and ethylene capacity 1.2 million tons/year.
mrchub.com