China's refinery output hit a record in 2021, up 4.3% from 2020, on robust first-half fuel demand in particular and as refiners ramped up processing to fill a supply gap after a hefty new tax closed loopholes in blending fuel imports.
Total refinery throughput last year reached 703.55 million tonnes, or 14.07 million barrels per day , data from the National Bureau of Statistics showed on Monday, roughly 620,000 bpd above the 2020 level.
Output surged nearly 11% on the year in first-half 2021, as a rebound in car sales bolstered gasoline use and booming domestic air travel lifted aviation fuel consumption.A hefty tax slapped on importing blending fuels like light cycle oil and bitumen mixture allowed dominant state refiners to recoup lost market share, previously eroded by cheap blending stocks.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Tesla Accident Data Reveals Fewer Crashes In Q4 2021 Than Q4 2020Last month, I wrote this article comparing Tesla's Q3 2021 accident data with the National Highway Traffic Safety Administration's (NHTSA) report Early Estimate of Motor Vehicle Traffic Fatalities for the First Half (January-June) of 2021.
Read more »
China GDP Grew 8.1% in 2021, Though Momentum Slowed in Fourth QuarterChina’s gross domestic product rose 8.1% in 2021 from a year earlier, though things slowed down in the final three months of the year.
Read more »
NJ Casinos, Tracks Won $4.7B In 2021; In-Person Winnings LagCasino gambling, sports betting and online wagering in New Jersey brought in over $4.7 billion in 2021, but the casinos’ core business — in-person gambling — did slightly poorer than it did before the pandemic hit.
Read more »
Members of Congress Beat the Snot Out of Markets in 2021 | HackerNoon
Read more »
Big demand and low supply frustrated home buyers in Naperville and profited sellers in 2021Low mortgage rates, low supply, high demand, competition all around turned the 2021 Naperville housing market into one realtors and buyers/sellers won’t soon forget.
Read more »
Here's where the inflation came from in 2021OPINION: These four items represent about 61% of consumer purchases but account for 79% of the inflation we’ve experienced over the past 12 months, columnist Rex Nutting writes.
Read more »