A Glance of China Oil Market 20260112

Weekly News

China 2026 crude throughout likely to remain flat on contracting demand

According to OilChem's survey of refineries' production scheduling for 2026, it is expected that the overall crude throughput of domestic refineries will amount to approximately 748 million tonnes, a gentle increase of 0.67% from the previous year. In 2026, existing outage plans at state-owned refineries suggest a potential decrease by approximately one-third compared to the previous year in terms of maintained CDU capacity, returning to a conventional level, yet crude throughput shows no signs of growth. Read Full Story

China biodiesel market set for takeoff with 3.65 mln t/y of new capacity in 2026, driven by SAF demand

The year 2026 is shaping up to be a pivotal breakout year for China's biodiesel industry, characterized by a dual-engine growth in supply and demand centered on sustainable aviation fuel. On the supply side, a significant capacity expansion is underway. Eleven new production units are planned for startup across the country, representing a substantial addition of 3.65 million tonnes/year. Notable projects include Henan Junheng Industry Group Biotechnology's 800,000 t/y facility. This build-out is strategically geared towards meeting soaring global demand for sustainable aviation fuel (SAF). Read Full Story

Strength in new energy heavy-duty trucks spur China's LNG refueling station transformation

The strengthening of new energy heavy-duty truck sector in 2025 has started to erode the LNG (liquefied natural gas) heavy-duty truck market, making the transformation of terminal refueling stations an urgent task for 2026. Except January 2025, the cumulative year-on-year growth in new energy heavy-duty truck sales exceeded 100% in the past two years. From January to November 2025, actual sales reached 185,800 units, surging by 178% year-on-year. In contrast, the growth in LNG heavy-duty truck sales fluctuated downwards after peaking at 144% in April 2024. Read Full Story