January 2009

Trends and Resources

HP Impact: HPImpact: Study: Despite losses, Chinese refining remains 'attractive'

Losses due to capped domestic fuel prices have not slowed the rush to invest in the Chinese refining sector, according to key findings by PFC Energy's China Downstream Monitoring Service. With price c..

Weirauch, Wendy, Hydrocarbon Processing Staff

Losses due to capped domestic fuel prices have not slowed the rush to invest in the Chinese refining sector, according to key findings by PFC Energy's China Downstream Monitoring Service. With price controls keeping domestic fuel prices lagging behind the cost of crude oil, the Chinese refining sector has been in the financial doldrums recently. The nation's top two refiners, Sinopec and PetroChina, reported total refining and marketing losses of $11.7 billion for the first half of 2008. Even though the losses are partially made up for in other operations, both companies are looking to large government subsidies to limit the damage to their finances. Against such a backdrop, new investme

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