China's annual refining capacity ranks first globally in 2023

BEIJING - China's annual oil refining capacity rose to 936 million tonnes in 2023, ranking first in the world, a report said.

China's oil consumption was about 756 million tonnes last year, and its crude oil processing was 738 million tonnes, both reaching record highs, according to the report issued from a research institute under the China National Petroleum Corporation.

Refined oil consumption was 399 million tonnes, up 9.5 percent year on year.

In 2023, China's energy supply was sufficient and stable. Annual crude oil production stood at 200 million tonnes, maintaining growth for six consecutive years, the report showed.