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However, Malaysia is gearing up to increase its refining capacity to become a net oil product exporter. The Pengerang Integrated Petroleum Complex (PIPC) in Johor, and Sipitang Oil Gas Industrial Park (SOGIP) in Sabah will almost double the refining capacity nationwide from 588,000 bbl/d to 1,158,000 bbl/day.
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China imported record volumes of crude oil last month, eclipsing the United States as the world's top buyer of foreign oil as Beijing's state reserves shipped in cheap crude to fill new storage tanks. China's Pivate "teapot" refiners boosted runs to a record 55.98% as of Sept. 29.
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