2020 China Crude Processing Volume Hit 672.0608 Million Mt
According to SCI’s statistics, in 2020, China’s annual crude oil processing volume was 672.0608 million mt, up 5.59% Y-O-Y. In 2020, influenced by the public health event, the operating rates at China’s refineries dropped sharply in February, and the crude oil processing volume slumped. Later, with the revival in gasoline and diesel demand and the slump in international crude oil prices, the comprehensive oil refining profits at refineries surged, supporting China’s crude oil processing volume to rise dramatically. Moreover, the CDUs at Sinopec Zhongke (Guangdong) Refinery, Phase II of Zhejiang Petroleum & Chemical, etc. were put into operation, promoting the increase in crude oil processing volume to some extent as well.
Remarks: In 2020, China’s crude oil processing data sample included 141 refineries, and their total CDU capacity was 916.23 million mt/a, accounting for 94% of China’s total.
In terms of refined oil output, in 2020, China’s annual gasoline output was 169.7132 million mt, up 0.29% Y-O-Y. China’s annual diesel output was 211.9167 million mt, up 0.3% Y-O-Y. China’s annual kerosene output was 42.7638 million mt, down 18.12% Y-O-Y. China’s annual straight-run naphtha output was 100.4005 million mt, up 8.03% Y-O-Y.
