Page 1 - AsianOil Week 44 2020
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Issue 744 05•November•2020 Week 44
Production targets
Indonesia is holding fast to its target of producing 1mn bpd of crude and
condensate by 2030.
Supply and demand
The Chinese government has pledged to speed up the development of the
upstream and midstream sectors amid a deepening dependency on foreign
hydrocarbon supplies.
Storage boost
Chinese refiner Hengli Petrochemical has doubled the oil storage of its
400,000 bpd downstream complex in Liaoning.
Downstream doldrums
With one refinery already set to close and another two on the chopping
block, Australia could see three quarters of its downstream facilities
shuttered in the not-too-distant future.
