PetroChina closes the largest oil refinery in Dalian

PetroChina has announced the closure of its largest oil refinery in Dalian, China, scheduled for mid-2025. This decision is part of a strategy to shift production due to overcapacity and lower fuel demand due to slower economic growth and the transition to electric vehicles.

At the moment, the company has already suspended the processing of 210 thousand barrels of oil per day at a subsidiary of Dalian Petrochemical, which is half the capacity of the plant. The closure is also linked to a number of accidents, including a major oil spill in 2010, an explosion in 2013 and a fire in 2017.