Rapid Expansion of China’s Independent Refineries Market Raises Issues

Zhoushan, China, March 21, 2013 --(PR.com)-- In recent years, China’s independent refineries’ productivity has been constantly expanding and is being viewed as one of the key drivers of domestic refined oil supply. As of April 2012, nearly 160 operational independent refineries make up 30% of the country’s total refining capacity. In light of these developments, 500 key industry stakeholders will converge on the 6th Independent Refineries China Summit organised by China Chemnet from the 24-26 April 2013 in Zhoushan, China, to discuss issues and opportunities as a result of this growth.

However, with the rapid expansion of the independent refineries in China, issues pertaining to raw demand supply are apparent. Due to new and existing policies, the crude oil share allocated to independent refineries is insufficient, thus creating a need to import fuel oil from overseas to sustain operations, with fuel oil imports subjected to high taxes, exchange rate fluctuations and other risks. With such a volatile supply environment, sustaining a stable and inexpensive feedstock supply has become one of the key issues facing independent refineries in China.

This year, with the support and endorsement from the Zhoushan city government, the 6th Independent Refineries China Summit held in Zhoushan, Zhejiang, is aimed at helping independent refineries tackle such issues. The summit will focus on topics based on this year’s theme: “new investments, new cooperation and new development.” In particular, the summit will discuss key issues including demands for feedstock supplies, capitals and markets, introducing new investments, establishing new modes of cooperation and opening up new customer markets.

About the 6th Independent Refineries China Summit
Held in Zhoushan, Zhejiang China this year, the 6th Independent Refineries China Summit remains as the key platform for independent refineries to discuss the development trends of China’s oil products market.

This year’s theme, “New Investment, New Cooperation, New development” will be the main focus as key industry experts share insights on coping with urgent demands and volatile costs of raw materials, capitals and markets, new investments and other issues faced by independent refineries.

In addition, the event will provide unlimited networking opportunities with industry leaders as well as an exhibition featuring international companies showcasing their latest products and technology solutions.

Event dates: 24-26 April 2013
Summit organiser: China ChemNet
Venue: Grand Barony Hotel Zhoushan, Zhejiang, China
Event website: http://news.chemnet.com/list/zt/6thCPEC/

For more information, interviews and media accreditation –
Abel Koh
Email: abel@clarionevents.asia
Tel: +65 6590 3970
Fax: +65 6223 9196