More gloom for Asian rivals as China is set to expand oil refining capacity


China is set to further expand its massive oil refining capacity this year, offering support to global oil prices, and US producers in particular, but its plans spell more gloom for Asia's hard-hit refining industry. Already the world's No.

2 oil refiner after the United States, China added 800,000 barrels per day (bpd) of capacity last year - 80% of the United Kingdom's refinery throughput - and analysts expect a further 460,000 bpd to become operational in 2020. Domestic demand, however, has failed to keep pace. Chinese exports.....

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