October 2007

Misc

HPImpact: Product surpluses to balance as project additions slow

 WENDY WEIRAUCH, Managing Editor       Comments? Write:WW@HydrocarbonProcessing.com In 2006, Asian oil demand grew by 336 thousand barrels/day (Mbpd), while glob..

WENDY WEIRAUCH, Managing Editor       Comments? Write:WW@HydrocarbonProcessing.com In 2006, Asian oil demand grew by 336 thousand barrels/day (Mbpd), while global incremental oil demand growth was estimated at 0.8 million barrels/day (MMbpd). China is the key to demand growth in Asia. In 2004, about 74% of Asian demand growth came from China; in 2005–06, around two-thirds of the incremental growth came from China. China's oil product demand is projected to grow at 5.2%/yr between 2007 and 2012. This equals 400 Mbpd to 420 Mbpd of growth each year. The prevailing high oil prices have changed the structure of demand and have c

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