The National Development and Reform Commission and the National Energy Administration issued the “15th Five-Year Plan for Oil and Gas Development”. Among them, it is proposed to insist on “volume reduction and replacement” of refining production capacity, optimize stocks, strictly control new additions, continue to promote “oil conversion,” “oil conversion,” and “oil conversion,” and raise the level of intensification, refinement, and greening of the refining and chemical industry. Guide and support the integration and restructuring of refineries in key regions and the elimination of backward production capacity through market-based and rule-of-law methods. Strengthen process carbon reduction, and implement green electricity, clean, and low-carbon hydrogen replacement in conjunction with actual practice. The coastal region focuses on building integrated refining and chemical industrial clusters, enhancing the supply capacity of high-end chemical materials, and building globally competitive production bases. Based on local demand and resource conditions, the central and western regions guarantee a stable supply of oil products and moderately develop petrochemical projects that meet regional characteristics. Small and medium-sized refineries with characteristics and competitiveness stand out for being “specialized, special and new”.

The National Development and Reform Commission and the National Energy Administration issued the “15th Five-Year Plan for Oil and Gas Development”. Among them, it is proposed to insist on “volume reduction and replacement” of refining production capacity, optimize stocks, strictly control new additions, continue to promote “oil conversion,” “oil conversion,” and “oil conversion,” and raise the level of intensification, refinement, and greening of the refining and chemical industry. Guide and support the integration and restructuring of refineries in key regions and the elimination of backward production capacity through market-based and rule-of-law methods. Strengthen process carbon reduction, and implement green electricity, clean, and low-carbon hydrogen replacement in conjunction with actual practice. The coastal region focuses on building integrated refining and chemical industrial clusters, enhancing the supply capacity of high-end chemical materials, and building globally competitive production bases. Based on local demand and resource conditions, the central and western regions guarantee a stable supply of oil products and moderately develop petrochemical projects that meet regional characteristics. Small and medium-sized refineries with characteristics and competitiveness stand out for being “specialized, special and new”.