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China Petroleum & Chemical Corp., Asia's largest refiner, may boost the crude-oil processing capacity of its refinery in Guangdong province by 48 percent to meet rising demand from the nation's manufacturing hub.
Sinopec, as China Petroleum is known, may increase the annual capacity of its Maoming refinery to 20 million metric tons by 2012, or 400,000 barrels a day, from 13.5 million tons, Cai Zhan, the plant's spokesman, said by mobile phone from the southern city today.
The expansion will put Sinopec Maoming on par with Sinopec Zhenhai by capacity, China's largest refinery, which can process 20 million tons a year. Chinese oil-processing plants are boosting capacities to meet higher fuel demand from the world's fastest-growing major economy.
The capacity-building plan has received the support of the local authorities and is awaiting the approval of the parent company Sinopec and the central government, Cai said.
``Sinopec Maoming will scrap some old crude distillation units and build a 12-million-ton-a-year unit during the upgrade,'' Cai said.
After the expansion, high-sulfur Middle East crude will continue to account for about 70 percent of the oil that Sinopec Maoming processes and low-sulfur grades 30 percent, Cai said.