China’s carbon-neutrality ambition is likely to result in declining fuel demand in the 2040s
Energy transition to transform Asian refining
The move away from fossil fuels will cap refinery capacity expansion in Asia-Pacific, but petrochemical demand gives the sector options
Asia-Pacific’s refining capacity growth is set to slow in the long term as the region’s energy transition displaces demand for traditional fuels and as decarbonisation moves up government policy agendas, according to market participants at the Asian Refining and Petrochemicals Summit. Three long-term trends are driving the outlook for refined product demand in Asia-Pacific that have implications for refining in the region, Harry Ubhi, head of business development and origination at the trading arm of Italy’s Eni, told the conference in mid-March. In large emerging economies such as India and Indonesia, a rapidly growing middle class will support robust transport fuel demand growth into the 2
Also in this section
28 April 2026
The key energy player faces balancing regional routes, political complexities, and creating a clear strategic vision for energy security
24 April 2026
The European Commission’s response to the Middle East crisis is to double down on its transition strategy, with plans for a new target on electrification
24 April 2026
A major new discovery by Eni and BP that can likely be fast-tracked to production is welcome news for Egypt as it scrambles to plug a widening supply gap and deal with rising import risks
24 April 2026
Countries in the region are turning to the cleaner-burning fuel for power generation, driving demand for imports
