China builds mega refineries just as fuel demand stalls
The East Asian country is boosting its investments in huge petrol refineries as fuel consumption slumps and peak demand is forecast to occur within the next five years, which may lead to a massive and cheap regional export glut undercutting existing plants in Taiwan and South Korea.
BY BLOOMBERG NEWS
China is investing tens of billions of dollars in new mega-refineries even as its fuel demand is expected to peak within five years, raising the risk it will flood the region with cheap exports.
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