China to Boost Oil Refinery Capacity

China plans to increase its refining capacity by about one-third by 2010 as it races to keep up with surging demand for oil and refined products, the government says.

..Meanwhile, oil producer PetroChina said it is stepping up exploration of both onshore and offshore oil fields and expects “major breakthroughs” in the next few years, the state-run newspaper China Daily reported Friday.