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China is building mega refineries with capacity to process more crude oil than the UK’s combined, just as fuel demand stalls

Summary:
[unable to retrieve full-text content]China is investing tens of billions of dollars in new mega-refineries even as its fuel demand is expected to peak within five years, raising the risk it will flood the region with cheap exports.At least four projects with about 1.4 million barrels a day of crude-processing capacity, more than all the refineries in the UK combined, are under construction. That’s after the country already added 1 million barrels since the start of 2019. All that capacity will add more petroleum products and…

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[unable to retrieve full-text content]
China is investing tens of billions of dollars in new mega-refineries even as its fuel demand is expected to peak within five years, raising the risk it will flood the region with cheap exports.At least four projects with about 1.4 million barrels a day of crude-processing capacity, more than all the refineries in the UK combined, are under construction. That’s after the country already added 1 million barrels since the start of 2019. All that capacity will add more petroleum products and…

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