 China's booming demand is driving the refineries |
China's booming economy has pushed up output at the country's - and Asia's - biggest oil refiner, Sinopec, by a fifth in the first half of 2004. Sinopec said processing volume was up 19%, with sales rising nearly 30%.
China is seeing growth of more than 9% a year, despite state attempts to calm the economy amid fears of overheating.
Soaring energy demands have led to rolling blackouts, and firms are being forced to put staff on holiday and work at night to keep demand under control.
Over the weekend, Shanghai - the economic powerhouse of central China - increased by 25% to 2,000 the number of companies ordered to switch to night working, in the face of a heatwave which means air-conditioning usage is eating into power supplies.
Effects
Attempts to slow down the breakneck pace of growth are having other effects.
Profits are up almost 40% at state firms, the China Daily reported, as they reduce their massive investment in fixed assets under pressure from the government.
China's economic growth has contributed to rising world oil prices as well, adding to the upward pressure already caused by security fears and disruption to Iraqi supplies because of sabotage.
Oil prices in New York remain around $40 a barrel.
Sinopec is also an energy producer, but crude output rose by just 1.6% in the first half of the year - in contrast to a 10.3% rise in natural gas production.
Its bigger rival PetroChina is also facing the problem of locating more oil both domestically and from foreign suppliers. Its gas production in the same period was up 17.4%, with oil up by just 0.5%.
One-Minute World News 
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