Middle East Economic Survey


No 22


China Set To Import 36% Of Product Needs By 2020 As Refining Lags, Says HSBC

China is expected to import 36% of its petroleumproduct requirements by 2020, according to an HSBC Global Research report, High-Octane Growth* published in May. In 2004, about 18% of total consumption was imported. The report expects this figure to rise to 24% by 2010 before reaching the 2020 figure above. The study says that refining capacity in China increased by...