According to PetroChina’s plan, the Shangqiu refinery will feed on crude oil imported from the Middle East and have an yearly production of six million tons of gasoline and diesel to be sold to target markets like Jiangsu, Shandong, Henan and Anhui regions.
The Shangqiu refinery is only one part of PetroChina’s refining strategy to make its refining capacity expand to 240 million tons/year before 2015. Currently, PetroChina has 140 million tons/year refining capacity.
To this end, PetroChina plans to newly build or upgrade 17 refineries, including the greenfield Taizhou refinery in Zhejiang province.
