Chinese refining giant Sinopec sees Chinese economy extending recovery, fuel demand up - ForexLive
Chinese refining giant Sinopec sees Chinese economy extending recovery, fuel demand up | Forexlive
Chinese refining giant Sinopec Corp says its planning to maintain steady refinery output during the second half of 2023. The firm is expecting domestic fuel demand to further recover.
- plans 127 million metric tons of crude throughput, about 5.04 million barrels per day, between July and December, versus 126.54 million tons during the first six months
- “The Chinese economy is seen extending its recovery. Domestic refined fuel demand is looking up and natural gas demand will maintain growth and that of chemical products will rebound gradually”
China Petrochemical Corporation (Sinopec Group) is the world's largest oil refining, gas and petrochemical conglomerate
Related Knowledge Center: ENERGY BASICS: hydropower
Hydropower — electricity generated by turbines capturing energy from moving water — was for many years the primary contributor of renewable energy to the U.S. electricity grid. Its growth was rapid into the 1970s, and since then has offered a stable supply of power, while a declining share of all generation. For many years, hydropower was seen as clean energy and an unalloyed good, but a greater understanding of the impact of dams on ecosystems and wildlife has led to the removal of some dams. As of 2019, hydropower trails wind as a renewable source of power generation.