China takes top spot in refining industry

The Economics and Technology Research Institute of China National Petroleum Corp said domestic refining capacity is expected to grow, as the government has approved several projects. — China Daily

BEIJING: China topped the ranking in oil refining capacity in 2022, at 924 million tonnes, or 18.5 million barrels per day, industry experts say.

Ethylene production capacity also continued to grow rapidly for a fourth consecutive year in 2022, with total capacity reaching 49.53 million tonnes per year, surpassing the United States and becoming the world’s largest, according to the China Petroleum and Chemical Industry Association.