China faces call to cap crude oil consumption by 2025
BEIJING (Reuters) - China will need refining capacity controls and bans on plastics to reach peak crude oil consumption of 720 million tonnes by 2025 if it is to cap its total carbon emissions before 2030, research showed on Monday.
The country needs to maintain crude oil refining capacity below 930 million tonnes by 2025, phase out outdated refineries with annual capacity of less than 5 million tonnes and optimize the structure of refined oil products, the 2020 China Oil Cap report said.
The report, commissioned by the U.S.-based Natural Resources Defence Council and Development Research Centre (DRC) of China's State Council, forecast China will add 140 million tonnes of refining capacity in the next five years from mega-sized integrated refining complex and shut down at least 70 million tonnes from small refineries in the smog-prone north and east.
"Coal consumption in China reached a peak in 2013 and has plateaued since then. However, the efforts of carbon reduction from coal are offset by the increase from oil and gas sectors," Yang Fuqiang, a contributor to the report, said.
Comments