China becomes world leader in oil refining

China’s annual oil refining capacity increased to 936 million tons in 2023, placing the country first in the world in terms of this indicator, according to the report published by the China National Petroleum Corporation, Report informs referring to TASS.

Oil consumption in China in 2023 amounted to about 756 million tons, and consumption of petroleum products - 399 million tons, an increase of 9.5% year on year.

In 2023, China’s energy supply was sufficient and stable. The annual crude oil production amounted to more than 200 million tons, maintaining an increasing trend for six consecutive years.