China caps refinery capacity under peak emissions plan

China caps refinery capacity under peak emissions plan

Beijing, 26 October (Argus) — China will cap primary crude processing capacity at 20mn b/d by 2025, the government said in a new action plan to achieve peak emissions by 2030.

The plan, published by the state council today, gives a more detailed sector-by-sector breakdown following the release of an economy-wide plan for peak emissions and carbon neutrality on 24 October.

Major refining units should raise their utilisation rate to more than 80pc, the state council said, without giving any further details.