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15 Apr
10:41

NEV growth to accelerate oil consumption peak in China

China National Petroleum Corporation’s economy and technology research institute estimates new energy vehicles have replaced 17 million tonnes of refined oil products in 2023. In a recent oil industry address, Lining Wang, director at the oil market research institute of CNPC, said the replacement volume was estimated by the institute based on NEV mileage range and vehicle energy consumption. The volume corresponded to over 10% of total refined oil prod…
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