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China to Load haul dumper consolidate refining sector -...
China to Load haul dumper consolidate refining sector - energy chief
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China to consolidate refining sector - energy chiefPublished: 04 Mar 2009 22:29:55 PST
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China to consolidate refining sector - energy chiefPublished: 04 Mar 2009 22:29:55 PST
BEIJING, March 5 - China will consolidate itsrefining sector as small oil refineries will either be forced outof business or be taken over by majors, the country's top energyofficial said on Thursday.
The comment from Zhang Guobao, head of the National EnergyAdministration, comes amid falling fuel demand in the world'ssecond-largest oil consumer which is pushing for its state-ownedoil majors to build new and bigger refineries.
"One scenario is that these small plants will not be able tosurvive with changing oil prices; or they may be acquired by bignational oil companies," Zhang told reporters.
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