China’s CEIC plans $24-billion coal-to-oil project

China

XINJIANG, October 10, 2024 – China’s CEIC plans to build a USD 24-billion coal-to-oil project in the coal hub of Xinjiang, Bloomberg reported on Thursday.

The renewable-energy-powered plant, which will transform coal into oil products, will see its initial phase come on line in 2027.

The project will supply 4 million tonnes per year of petroleum products as feedstock for manufacturers of petrochemicals.

In recent years, China has built a spate of coal-to-oil plants in mining hubs, partly in a bid to address a coal surplus. The country ranks as the top producer of coal worldwide, with 4.7 billion tonnes of output in 2023, the report said.