<
https://www.reuters.com/business/energy/chinas-gasoline-demand-peak-nears-ev-boom-hastens-transition-2023-07-28/>
'July 28 (
Reuters) - China's demand for petrol is likely to peak as early as
next year as electric vehicle sales soar, several analysts say, bringing
forward an energy transition milestone for the world's biggest polluter and a
headache for global refiners.
The International Energy Agency (IEA) and consultancy Rystad Energy have
brought forward forecasts of China's peak gasoline demand by about a year to
2024, while Chinese state majors PetroChina and Sinopec (600028.SS) see it in
2025.
The earlier halt in gasoline demand growth in the world's No. 2 oil consumer
will push Chinese refiners to ramp up exports of the motor fuel to Asia and
spur them to make more naphtha, diesel and jet fuel, crimping refining margins
in the region.
"It will be a challenge for refiners to rebalance their output," said Toril
Bosoni, IEA's head of oil industry and markets division.
"We are seeing a shift towards higher middle distillates yields like jet fuel
and gasoil ... also seeing rebalancing of naphtha and gasoline into
petrochemicals feedstocks."'
Via
Future Crunch:
<
https://futurecrunch.com/good-news-breastfeeding-trachoma-iraq-golden-lion-tamarin-brazil/>
Cheers,
*** Xanni ***
--
mailto:xanni@xanadu.net Andrew Pam
http://xanadu.com.au/ Chief Scientist, Xanadu
https://glasswings.com.au/ Partner, Glass Wings
https://sericyb.com.au/ Manager, Serious Cybernetics
