┬áSinopec Economics & Development Research Institute expects China’s oil product exports to rise 9% year on year to 51 million mt in 2019, as an increase in domestic product supplies surpasses demand growth, a report released on Thursday by the institute said. Receive daily email alerts, subscriber notes & personalize your experience. Register Now EDRI is the think tank of Sinopec, the world’s biggest refinery by throughput and capacity. “Oil product surplus will surge and competition will be more intensive, as two greenfield independent refining and petrochemical mega will bring about 10 million mt of new oil product supplies to the domestic market, which will be much higher than the domestic demand growth of 6 million mt,” the report said. The two new plants refer to Hengli Petrochemical and Zhejiang Petrochemical, with a capacity of 20 million mt/year (400,000 b/d) each. The North China-based Hengli started a […]