Sinopec, the largest refiner in Asia by capacity, plans to process 228 million metric tons of crude oil in 2010 or 4.6 million barrels daily, 8% more than in 2010, said sources familiar with the oil company.
The oil giant increased its crude oil processing volume target for this year because some new refiners started operation last year.
In 2010, the company processed 211 million metric tons of crude oil, 13.16% more than in 2009.
Sinopec's output of gasoline, diesel and kerosene increased 4.18%, 10.50% and 19.54% year on year last year, respectively.
Reportedly, Sinopec has signed a US$9-billion agreement with state-owned Kuwait Petroleum Corp to set up a 50:50 refinery joint venture in southern China, China Knowledge reported earlier.
