11 Sep 2025

Petrochemical overcapacity correction could take 3-5 years, industry source estimates

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It could take up to five years to correct overcapacity in China’s oil refining sector.

This is according to Li Xinhua – global head of trading at petrochemical giant Rongsheng Petrochemical.

Speaking at the Asia Pacific Petroleum Conference (APPEC) in Singapore, Li said he expects Beijing to cut 1...