May 2008

Trends and Resources

HP Impact: HPImpact: China's petrochem sector challenging refinery output

China will continue its high growth momentum over the next two years. But with an expected slowdown in world economy and the Chinese government's determination to cool the economy, growth will likely ..

Weirauch, Wendy, Hydrocarbon Processing Staff

China will continue its high growth momentum over the next two years. But with an expected slowdown in world economy and the Chinese government's determination to cool the economy, growth will likely slow down modestly by the end of this decade. So said Paul Pang, managing director of CMAI China, presenting at the company's recent annual petrochemical conference. To fuel its enormous demand, China has built several world-scale refining and petrochemical centers in the past 15 years, and production growth rate has been at 15% on average. "However, domestic chemical supply has been far from catching up with demand growth. Even with many new projects under development, the country will contin

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