s korean oil refiners to benefit from china\s rising demand
Last Updated : GMT 13:03:42
Arab Today, arab today
Arab Today, arab today

S Korean oil refiners to benefit from China\'s rising demand

Arab Today, arab today

Arab Today, arab today S Korean oil refiners to benefit from China\'s rising demand

Tokyo - KUNA

South Korean oil refiners will benefit from a rise in China\'s oil demand, largely due to their geographical proximity and the growing number of cars in the neighboring country, Yonhap News Agency said Tuesday, citing an industry report. China, the world\'s second-biggest energy consumer, is expected to turn from a net gasoline exporter to a net importer as demand grows at a fast pace in line with automobile growth, according to the report by Shinhan Investment Corp. Despite the slumping economy, China\'s gasoline consumption grew 11.4 percent on-year in the first eight months of this year, much higher than the average 6.6 percent growth for the previous three years. The country\'s gasoline consumption growth is likely to accelerate to a rate of 15 percent from 2013 through 2015, Shinhan Investment said. The US has 240 million vehicles that consume 10 percent of the global oil supply, while China has 100 million vehicles consuming only 2 percent of the supply, it said. The financial firm forecast China\'s gasoline demand will continue to grow steadily, saying an increase in cars will lead to more creation of infrastructure, such as highways. Recognizing the potential growth, China is rushing to increase the capacity of its refining facilities, it said. While two to three new refining facilities are scheduled to be set up in China each year, that is not enough to keep up with the country\'s surging demand, at least until 2015, the report said. China\'s oil demand has been growing by 200,000-300,000 barrels per day (bpd) annually for the past few years, it added. South Korean refining firms, such as SK Innovation Co. and GS Holdings Corp., will see their sales expand in China helped both by their closeness to the Chinese market and by their recent increase in the output of gasoline, it added. Kuwait is South Korea\'s No. 2 crude oil supplier, providing 376,000 barrels per day (bpd) in September.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

s korean oil refiners to benefit from china\s rising demand s korean oil refiners to benefit from china\s rising demand

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

s korean oil refiners to benefit from china\s rising demand s korean oil refiners to benefit from china\s rising demand

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today The Big Apple bike boom

GMT 10:47 2017 Wednesday ,22 November

The Big Apple bike boom
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Leaders of Russia, Iran, Turkey meet

GMT 10:12 2017 Wednesday ,22 November

Leaders of Russia, Iran, Turkey meet
Arab Today, arab today 'Advanced' cyber attack targets Saudi Arabia

GMT 10:18 2017 Wednesday ,22 November

'Advanced' cyber attack targets Saudi Arabia
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Honda recalls 800,000 minivans

GMT 11:43 2017 Wednesday ,22 November

Honda recalls 800,000 minivans
Arab Today, arab today VW says will invest over 34bn euros

GMT 07:19 2017 Tuesday ,21 November

VW says will invest over 34bn euros
Arab Today, arab today Singer Jahda Wahba has unlimited ambitions

GMT 07:56 2017 Monday ,20 November

Singer Jahda Wahba has unlimited ambitions
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 09:23 2017 Saturday ,18 November

Fedra happy for “Between Two Worlds” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 13:41 2017 Tuesday ,21 November

French choke up over proposal

GMT 00:44 2017 Monday ,20 November

Japanese regulators raid Airbnb

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday