It has been reported that China will continue to run its major refineries at the second highest rate on record throughout June. Refineries that account for more than a third of China’s capacity are planning on processing 2.97 million bpd which is 94% of total refining capacity.
Air Products & Chemicals have announced that they are going to help PetroChina Co. Ltd. build a new hydrogen production plant. Once complete the facility will process 90 million ft3/d and is expected to come online in 2012.
The Tamil Nadu government is looking to create a second Petroleum Chemicals and Petrochemicals Investment Region. One has already been proposed for the Cuddalore-Nagapattinam district and this second area will be located in Ramanathapuram. It is expected that the area will attract approximately Rs 90 000 crore of investment.
Crude imports to South Korea increased by 21.5% in May to 75.3 million bpy. This is because the demand for refined products in the country is rising dramatically with SK Energy Co. processed 800 000 bpd throughout May.
PetroVietnam has plans to increase the capacity of the Dung Quat refinery. The company wants to increase output to reach 10 million tpy in the next 18 months.
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