In 2014, China economy transferred from high-speed growth to mid-high speed growth. Oil demand growth weakens caused bad market sales, and new refineries led to more excessive oil refining capacity. As GDP growth rate...In 2014, China economy transferred from high-speed growth to mid-high speed growth. Oil demand growth weakens caused bad market sales, and new refineries led to more excessive oil refining capacity. As GDP growth rate slowed down to 7.4%, oil demand growth rate was slowed down to 4.0% in 2014 from 3.5% in 2013. In 2014, increased net imports of crude oil and LPG counteracted decrease of refined oil and other oil products, so net oil imports rose by more than 16 million tons, up 5.3%.展开更多
In 2012, China’s net import of crude was 268.7 million tons, which is 18.63 million tons higher than that of the previous year. Net import of refined products increased greatly as the naphtha import climbed up and ga...In 2012, China’s net import of crude was 268.7 million tons, which is 18.63 million tons higher than that of the previous year. Net import of refined products increased greatly as the naphtha import climbed up and gasoline and diesel import shrank. Net LPG import had been reduced gradually for the third year展开更多
Average oil price in international market exceeded 110 US dollars and hit historic high in 2011,but China's crude oil imports still rose to 273.78 million tons.Net imports of crude oil,refined oil,liquefied petrol...Average oil price in international market exceeded 110 US dollars and hit historic high in 2011,but China's crude oil imports still rose to 273.78 million tons.Net imports of crude oil,refined oil,liquefied petroleum gas(LPG)and other oil products created another historic high.Oil dependency,i.e.the proportion of net oil imports to domestic consumption went on rising and rose to about 59.8% in 2011. Net imports of refined oil rose by 46% remarkably, indicating that the growth of processing capacity of domestic refineries lagged behind consumption of oil products.展开更多
Net imports of crude oil, product oil, liquefied petroleum gas (LPG), and other oil products rose by 16.2% and hit a historic high of 253.7 million tons in 2010.Among these, net imports of crude oil reached 236.3 mill...Net imports of crude oil, product oil, liquefied petroleum gas (LPG), and other oil products rose by 16.2% and hit a historic high of 253.7 million tons in 2010.Among these, net imports of crude oil reached 236.3 million tons, 93% of the total, and the growth rate was as high as 19.0% (see Fig.1).As the demand for oil products maintained a robust growth and the scale of oil refineries was expanded further, China's processing quantity of crude oil rose by 50 million tons in 2010, 13.4% higher than the figure in 2009.Sales of oil products were brisk, in particular diesel demand was increased suddenly in the fourth quarter of 2009.Therefore, China's apparent need (production + net imports) of seven kinds of main oil products including gasoline, kerosene, diesel, lubricant oil, fuel oil, LPG and chemical light oil was increased by 11.6% in 2010 (Table 1 and Table 2).展开更多
The net imports of oil,including crude oil,refined oil,LPG and other oil products,increased by 9.5% in 2008 and rose to 200.67 million tons from 183.28 milliontons in 2007(Fig.1,Fig.2).The net imports of crude oil rea...The net imports of oil,including crude oil,refined oil,LPG and other oil products,increased by 9.5% in 2008 and rose to 200.67 million tons from 183.28 milliontons in 2007(Fig.1,Fig.2).The net imports of crude oil reached 175.16 million tons,up by 9.9%.展开更多
Domestic economic growth slowed down and supply exceeded demand in oil market in 2015, so the growth of refineries＂ processing volume was limited. Nevertheless, the gradual decontrol of market and the storage require...Domestic economic growth slowed down and supply exceeded demand in oil market in 2015, so the growth of refineries＂ processing volume was limited. Nevertheless, the gradual decontrol of market and the storage requirement under low oil price, crude oil imports hit a record high of 335.5 million tons, with the growth rate approximating 9%. Refined oil exports soared and imports decreased, which made China become a net refined oil exporter for the first time for 24 years, and net imports reached 6.22 million tons. Robust requirement on chemical raw materials propelled imported liquefied petroleum gas market to go on expanding. Imports exceeded 12 ,zillion tons in 2015, thus China leaped into the world＇s largest liquefied petroleum gas importer. In 2016, oil consumption growth would be kept at lower level. However, China would further decontrol crude oil import and refined oil export permits and put incremental storage capacity, into use. Therefore, crude oil imports would continue to rise up, and refined oil exports may hit a new historic high. hnported liquefied petroleum gas market will enter into a stage of stable growth after two years rapid development.展开更多
In the first half of 2005. the import of erude oil increased 4% up of the same period, but the net import of petroleum products including crude oil, oil products, liquefied petroleum gas （LPG） and others declined 7%...In the first half of 2005. the import of erude oil increased 4% up of the same period, but the net import of petroleum products including crude oil, oil products, liquefied petroleum gas （LPG） and others declined 7% of the same period last year. As the oil price in international market continuously climbs up and creates new records,展开更多
China＇s oil import dependence had risen to 72% in 2017, while its net imports of various oil products, including crude oil, refined oil, liquefied petroleum gas （LPG） and other products, had climbed to 418.8 millio...China＇s oil import dependence had risen to 72% in 2017, while its net imports of various oil products, including crude oil, refined oil, liquefied petroleum gas （LPG） and other products, had climbed to 418.8 million tons, an increase by10.7% over 2016. China＇s crude oil import reached 420 million tons, surpassed the United States for the first time, and China had become the biggest crude oil importing country in the world. Net export of the rejqned oil, mainly the diesel, continued to increase to 22.7 million tons, as driven by the oversupply situation of the domestic market. Last year, China＇s LPG import was 18.45 million tons, but its growth was diminishing. Oil price would continue to rise in 2018, while the domestic demand of refined oil would be maintained at a lower rate of growth. However, driving by new refining capacities to be brought online, it is estimated that the crude oil import would still be increased remarkably. LPG import would reach a new high due to the growth potential and strong demand for feedstocks in the petrochemical product market.展开更多
In 2016,China's net imports of crude oil increased to 378.3 million tons and its net exports of product oil soared to 20.45 million tons.Refinery crude runs continue to grow at a low rate,and the domestic product ...In 2016,China's net imports of crude oil increased to 378.3 million tons and its net exports of product oil soared to 20.45 million tons.Refinery crude runs continue to grow at a low rate,and the domestic product oil market still has a supply surplus.Diesel consumption fell for the first time in 21 years.The liquefied petroleum gas(LPG) market continues to grow rapidly,spurred on by feedstock demand for chemicals and gasoline blending components,and imports of LPG have reached a record high of 16.12 million tons.The refinery throughput of Petro China and SINOPEC had declined for 2 consecutive years,but crude oil imports climbed to a new high of 381 million tons as independent refineries boosted their utilization of capacity and the domestic oilfields produced a decreased amount of output.Imported oil now accounts for more than 2/3 of the Chinese market compared to being only about 1/3 15 years ago.Moreover,the proportion of imported crude in refinery runs has risen to 70%.In 2017,China's economy will continue to face substantial pressure,and domestic demand for product oil will continue to grow slowly.展开更多
Demand for imported oil is weakened by economic growth decline.In 2013,growth of China’s oil imports dropped to the lowest in 8 years,but net imports topped 300 million tons.Domestic oil demand will continue to grow ...Demand for imported oil is weakened by economic growth decline.In 2013,growth of China’s oil imports dropped to the lowest in 8 years,but net imports topped 300 million tons.Domestic oil demand will continue to grow slightly in 2014,and development of alternative fuels will restrict growth of oil import.展开更多
The year of 2006 saw the petroleum imports increase considerably in China since the rapidly developed economy had an urgent demand for fuels. China＇s economy has been developing at the high rate of more than 10% for ...The year of 2006 saw the petroleum imports increase considerably in China since the rapidly developed economy had an urgent demand for fuels. China＇s economy has been developing at the high rate of more than 10% for four consecutive years since 2003. The gross domestic product （GDP） rose by 10.7% in China in 2006, which is the highest speed since 1999. China＇s demand for oil products increased more rapidly in 2006 than in 2005 and its apparent demand for main oil products was 6% higher, which was almost equal to the increment of the processing capacity of domestic oil refining plants. China＇s import of crude oil has been rising for five consecutive years due to the increased processing and refining capacities.展开更多
After having increased greatly for three consecutive years, the net import of crude oil dropped by 5.2% in 2005 in China. The price inversion between the prices of major product oil in Chinese market with the internat...After having increased greatly for three consecutive years, the net import of crude oil dropped by 5.2% in 2005 in China. The price inversion between the prices of major product oil in Chinese market with the international market leads to a great decrease of imported fuel and diesel oil and an increase of gasoline and diesel exportation. Except crude oil, the net import volumes of oil products including product oil, LPG and other oil products dropped obviously last year.展开更多
The so-called imported oil dependence degree commonly refers to the proportion of oil imported to China’s oil consumption, which hit 56% in 2009 and has exceeded 50% in 2007. In the past two years,
The net imports of oil increased by 8.4% in China in 2007, hitting the record of 183.48 million tons (Fig.1). The net imports of crude oil and other oil products including paraffin wax, oil coke, and asphalt increased...The net imports of oil increased by 8.4% in China in 2007, hitting the record of 183.48 million tons (Fig.1). The net imports of crude oil and other oil products including paraffin wax, oil coke, and asphalt increased and balanced out the decrease of the net imports of product oil and liquefied petroleum gas (LPG). The net imports of crude oil reached 159.35 million tons, up 14.8%. In 2006, a lot of refining refineries were newly built and expanded,展开更多
In the first half of 2002, oil processing volume in China reached 107.1 million tons, 1% more than that in the same period of last year. The imported crude took up 30.8% of the total volume processed, which is about t...In the first half of 2002, oil processing volume in China reached 107.1 million tons, 1% more than that in the same period of last year. The imported crude took up 30.8% of the total volume processed, which is about the same as 30.2% for last year.展开更多
文摘In 2014, China economy transferred from high-speed growth to mid-high speed growth. Oil demand growth weakens caused bad market sales, and new refineries led to more excessive oil refining capacity. As GDP growth rate slowed down to 7.4%, oil demand growth rate was slowed down to 4.0% in 2014 from 3.5% in 2013. In 2014, increased net imports of crude oil and LPG counteracted decrease of refined oil and other oil products, so net oil imports rose by more than 16 million tons, up 5.3%.
文摘In 2012, China’s net import of crude was 268.7 million tons, which is 18.63 million tons higher than that of the previous year. Net import of refined products increased greatly as the naphtha import climbed up and gasoline and diesel import shrank. Net LPG import had been reduced gradually for the third year
文摘Average oil price in international market exceeded 110 US dollars and hit historic high in 2011,but China's crude oil imports still rose to 273.78 million tons.Net imports of crude oil,refined oil,liquefied petroleum gas(LPG)and other oil products created another historic high.Oil dependency,i.e.the proportion of net oil imports to domestic consumption went on rising and rose to about 59.8% in 2011. Net imports of refined oil rose by 46% remarkably, indicating that the growth of processing capacity of domestic refineries lagged behind consumption of oil products.
文摘Net imports of crude oil, product oil, liquefied petroleum gas (LPG), and other oil products rose by 16.2% and hit a historic high of 253.7 million tons in 2010.Among these, net imports of crude oil reached 236.3 million tons, 93% of the total, and the growth rate was as high as 19.0% (see Fig.1).As the demand for oil products maintained a robust growth and the scale of oil refineries was expanded further, China's processing quantity of crude oil rose by 50 million tons in 2010, 13.4% higher than the figure in 2009.Sales of oil products were brisk, in particular diesel demand was increased suddenly in the fourth quarter of 2009.Therefore, China's apparent need (production + net imports) of seven kinds of main oil products including gasoline, kerosene, diesel, lubricant oil, fuel oil, LPG and chemical light oil was increased by 11.6% in 2010 (Table 1 and Table 2).
文摘The net imports of oil,including crude oil,refined oil,LPG and other oil products,increased by 9.5% in 2008 and rose to 200.67 million tons from 183.28 milliontons in 2007(Fig.1,Fig.2).The net imports of crude oil reached 175.16 million tons,up by 9.9%.
文摘Domestic economic growth slowed down and supply exceeded demand in oil market in 2015, so the growth of refineries＂ processing volume was limited. Nevertheless, the gradual decontrol of market and the storage requirement under low oil price, crude oil imports hit a record high of 335.5 million tons, with the growth rate approximating 9%. Refined oil exports soared and imports decreased, which made China become a net refined oil exporter for the first time for 24 years, and net imports reached 6.22 million tons. Robust requirement on chemical raw materials propelled imported liquefied petroleum gas market to go on expanding. Imports exceeded 12 ,zillion tons in 2015, thus China leaped into the world＇s largest liquefied petroleum gas importer. In 2016, oil consumption growth would be kept at lower level. However, China would further decontrol crude oil import and refined oil export permits and put incremental storage capacity, into use. Therefore, crude oil imports would continue to rise up, and refined oil exports may hit a new historic high. hnported liquefied petroleum gas market will enter into a stage of stable growth after two years rapid development.
文摘In the first half of 2005. the import of erude oil increased 4% up of the same period, but the net import of petroleum products including crude oil, oil products, liquefied petroleum gas （LPG） and others declined 7% of the same period last year. As the oil price in international market continuously climbs up and creates new records,
文摘China＇s oil import dependence had risen to 72% in 2017, while its net imports of various oil products, including crude oil, refined oil, liquefied petroleum gas （LPG） and other products, had climbed to 418.8 million tons, an increase by10.7% over 2016. China＇s crude oil import reached 420 million tons, surpassed the United States for the first time, and China had become the biggest crude oil importing country in the world. Net export of the rejqned oil, mainly the diesel, continued to increase to 22.7 million tons, as driven by the oversupply situation of the domestic market. Last year, China＇s LPG import was 18.45 million tons, but its growth was diminishing. Oil price would continue to rise in 2018, while the domestic demand of refined oil would be maintained at a lower rate of growth. However, driving by new refining capacities to be brought online, it is estimated that the crude oil import would still be increased remarkably. LPG import would reach a new high due to the growth potential and strong demand for feedstocks in the petrochemical product market.
文摘In 2016,China's net imports of crude oil increased to 378.3 million tons and its net exports of product oil soared to 20.45 million tons.Refinery crude runs continue to grow at a low rate,and the domestic product oil market still has a supply surplus.Diesel consumption fell for the first time in 21 years.The liquefied petroleum gas(LPG) market continues to grow rapidly,spurred on by feedstock demand for chemicals and gasoline blending components,and imports of LPG have reached a record high of 16.12 million tons.The refinery throughput of Petro China and SINOPEC had declined for 2 consecutive years,but crude oil imports climbed to a new high of 381 million tons as independent refineries boosted their utilization of capacity and the domestic oilfields produced a decreased amount of output.Imported oil now accounts for more than 2/3 of the Chinese market compared to being only about 1/3 15 years ago.Moreover,the proportion of imported crude in refinery runs has risen to 70%.In 2017,China's economy will continue to face substantial pressure,and domestic demand for product oil will continue to grow slowly.
文摘Demand for imported oil is weakened by economic growth decline.In 2013,growth of China’s oil imports dropped to the lowest in 8 years,but net imports topped 300 million tons.Domestic oil demand will continue to grow slightly in 2014,and development of alternative fuels will restrict growth of oil import.
文摘The year of 2006 saw the petroleum imports increase considerably in China since the rapidly developed economy had an urgent demand for fuels. China＇s economy has been developing at the high rate of more than 10% for four consecutive years since 2003. The gross domestic product （GDP） rose by 10.7% in China in 2006, which is the highest speed since 1999. China＇s demand for oil products increased more rapidly in 2006 than in 2005 and its apparent demand for main oil products was 6% higher, which was almost equal to the increment of the processing capacity of domestic oil refining plants. China＇s import of crude oil has been rising for five consecutive years due to the increased processing and refining capacities.
文摘After having increased greatly for three consecutive years, the net import of crude oil dropped by 5.2% in 2005 in China. The price inversion between the prices of major product oil in Chinese market with the international market leads to a great decrease of imported fuel and diesel oil and an increase of gasoline and diesel exportation. Except crude oil, the net import volumes of oil products including product oil, LPG and other oil products dropped obviously last year.
文摘The so-called imported oil dependence degree commonly refers to the proportion of oil imported to China’s oil consumption, which hit 56% in 2009 and has exceeded 50% in 2007. In the past two years,
文摘The net imports of oil increased by 8.4% in China in 2007, hitting the record of 183.48 million tons (Fig.1). The net imports of crude oil and other oil products including paraffin wax, oil coke, and asphalt increased and balanced out the decrease of the net imports of product oil and liquefied petroleum gas (LPG). The net imports of crude oil reached 159.35 million tons, up 14.8%. In 2006, a lot of refining refineries were newly built and expanded,
文摘In the first half of 2002, oil processing volume in China reached 107.1 million tons, 1% more than that in the same period of last year. The imported crude took up 30.8% of the total volume processed, which is about the same as 30.2% for last year.
