China plans to construct three to four oil refining plants each plant would be capable of processing 20 million tones of oil annually, as per the plans published by the General Office of the State Council on its official.
In addition to increasing processing capacity, China wants to make existing facilities more environmentally friendly.
Oil producers and refiners were told to improve their product mix and cut pollutants. The industry’s energy intensity will be decreased by more than 12%, by 2011, as per the plans. Waste water and sulfur dioxide discharge will also be cut by more than 6 percent.
The Cabinet in February 2009 unveiled initial plans to increase the country’s petrochemical industry in a bid to shore up the economy. There was no exact amount released Monday as to how much funding will be needed for the new plants and upgrades of older ones.
The National Energy Administration said, China produced 189 million tones of crude oil in 2008. Net imports of crude oil totaled 175.16 million tones.
