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EIA: New refineries will increase global refining capacity in 2022 and 2023; China leads

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High-capacity refineries require access to reliable sources of crude oil inputs to maintain higher utilization and to a sufficiently large pool of potential customers to supply. Chinese capacity is scheduled to increase significantly this year because of the start of at least two new refinery projects and a major refinery expansion.

Global 448
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Opinion: Is Russia Plotting To Bring Down OPEC?

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Putin has highlighted on various occasions the contribution Russia’s mineral wealth, in particular oil and natural gas, must make for Russia to be able to sustain economic growth, promote industrial development, catch up with the developed economies, and modernize Russia’s military and military industry. Live by Energy….

Russia 150
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Opinion: Saudis Could Face An Open Revolt At Next OPEC Meeting

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As we have pointed out, RBC Capital’s fragile five , Algeria, Libya, Nigeria, Iraq and Venezuela, the pain is intense. Canada, Mexico (foreign investment), and also Russia (Chinese investment), that will have the financial wherewithal to grow output to satisfy the 18 million barrel per day increase in demand that OPEC sees by 2040.