Chinese refineries will likely have to lower utilization rate in 2021 amid growing refining capacity and limited oil product outlets overseas, Han Bing, marketing director at PetroChina’s sales division said at an industry event in Shanghai. Receive daily email alerts, subscriber notes & personalize your experience. Register Now Despite the lull in demand due to the global coronavirus pandemic, China’s refining capacity continues to rise, Han said at the 9th China International Oil and Gas Trade Congress on Nov. 9. Many investments were made earlier and cannot be culled although demand for some oil products will peak sooner than expected, market sources said separately and away from the conference. The country is expected to add 440,000 b/d or 22 […]