CNPC plans to phase out 19 outdated refining units to alleviate overcapacity
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CNPC plans to phase out outdated production capacity. According to market reports, CNPC will gradually shut down 19 old oil refining and chemical processing units in order to address the issue of overcapacity in the industry. According to people familiar with the matter, \"China National Petroleum and Natural Gas Group Corporation will shut down one refining and chemical plant that fails to meet the required standards, and gradually phase out another 18 plants that have been in operation for over 20 years.\" In addition, CNPC is also evaluating 43 crude oil distillation units, including three units with a daily production capacity of less than 40,000 barrels. ” Similarly, Sinopec stated in August that it would accelerate the phasing out of inefficient small-scale refineries and control the pace and scale of investments in the chemical industry. In July 2025, five relevant departments jointly issued the \"Notice on Conducting an Assessment of Old Facilities in the Petrochemical Industry.\" This notice states that \"in order to implement the decisions and arrangements of the State Council, departments such as the Ministry of Industry and Information Technology are formulating an Action Plan to accelerate the renovation and upgrading of old facilities in the petrochemical industry. By strengthening standard-setting and providing policy support, these efforts aim to promote comprehensive improvements in terms of safety, sustainability, and digitalization of such facilities, thereby preventing and mitigating safety and environmental risks and fostering high-quality development in this industry.\" To further understand the status of old facilities and clarify the standard requirements for work, an assessment of such old facilities in the petrochemical industry is being carried out at present. ” CNPC and Sinopec’s actions to phase out outdated production capacity signal that the elimination of such capacity in the petrochemical industry is progressing step by step.
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