Middle East Economic Survey

VOL. XLVIII

No 26

27-June-2005

Chinas Demand Growth Outpacing Refining Capacity Expansion, Says FACTS

Chinas petroleum products demand is expected to rise from 6.1mn b/d in 2004 to 8.6mn b/d in 2010 and 10.4mn b/d in 2015, according to Honolulus FACTS Inc. In the report The Race Between Oil Demand And Refining Buildup In China, published in June 2005, FACTS analyst Kang Wu and FACTS President Fereidun Fesharaki warn that increases in refining capacity may not keep pace...