China National Petroleum Corp., the country's second largest refiner by capacity, has set a target to process 5% more crude oil in 2007 to take advantage of strong domestic demand.

The company's planned throughput this year will be 122.1 million metric tons or 2.45 million barrels a day of crude oil, said the CNPC-backed paper, and compared with 116 million tons or 2.33 million b/d in 2006.

It will invest CNY23.4 billion ($3 billion) this year in refining and sales to reach the growth target, comprising CNY15.9 billion for its refining division and CNY7.5 billion for its sales division. The company will increase the proportion of diesel and high-quality gasoline in its production.

Source:未知