At the end of 2015, the United States lifted a 40-year ban on crude oil exports, which has far-reaching implications for the global crude oil market and crude oil trade patterns. Since the release of crude oil exports...At the end of 2015, the United States lifted a 40-year ban on crude oil exports, which has far-reaching implications for the global crude oil market and crude oil trade patterns. Since the release of crude oil exports, with the recovery of crude oil production and improved export infrastructure in the United States, U.S. crude oil exports have been growing rapidly, with an average of about one million barrels/day in 2017, making the U.S one of the major global crude oil exporters. Currently, the AsiaPacific region has replaced North America as the first major destination for U.S. crude oil exports. In light of future trends in the oil refining industry of the Asia-Pacific region, it will usher in a new wave of refinery operations around 2020 and crude oil imports will continue to grow rapidly. The American region, represented by the United States, will replace West Africa as the second largest source of crude oil imports to the Asia-Pacific region, and that energy trade cooperation between the Asia-Pacific region and the United States will continue to grow. In particular, for China, the United States will become an important source of crude oil imports for our country in the future, and the two countries will shift from the past of energy competition to energy cooperation. Sino-US energy trade will play a more active role in economic and trade cooperation between the two countries.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
The reforms in oil and gas sector have been accelerated in 2015. The reform of mineral rights has begun and 6 oil and gas exploration zones in Xinjiang Autonomous Region have served as the tender pilots, breaking thro...The reforms in oil and gas sector have been accelerated in 2015. The reform of mineral rights has begun and 6 oil and gas exploration zones in Xinjiang Autonomous Region have served as the tender pilots, breaking through the requirements on the resources varieties, exploration phase and enterprise qual!fication. The right of importing and using of the crude oil has been gradually relaxed and 13 local refineries have obtained the right to use imported crude oil of 55.1888 million tons per year. The natural gas price for non-residential use was unified and a universal price was set ~r the incremental supply and existing supply. Tire Shanghai Petroleum and Gas Exchange （SHPGX） was established and laid foundation for the market mechanism to detervnine the price. The government governance has undergone continuous adjustments such as regulating the tax instead of charging the fees, streamlining administration and delegating power to tire lower levels.The Guidelines on Deepening tire Reform of State-owned Enterprises was released, symbolizing the accomplishment of the overall planning ~ the SOE reform.展开更多
文摘At the end of 2015, the United States lifted a 40-year ban on crude oil exports, which has far-reaching implications for the global crude oil market and crude oil trade patterns. Since the release of crude oil exports, with the recovery of crude oil production and improved export infrastructure in the United States, U.S. crude oil exports have been growing rapidly, with an average of about one million barrels/day in 2017, making the U.S one of the major global crude oil exporters. Currently, the AsiaPacific region has replaced North America as the first major destination for U.S. crude oil exports. In light of future trends in the oil refining industry of the Asia-Pacific region, it will usher in a new wave of refinery operations around 2020 and crude oil imports will continue to grow rapidly. The American region, represented by the United States, will replace West Africa as the second largest source of crude oil imports to the Asia-Pacific region, and that energy trade cooperation between the Asia-Pacific region and the United States will continue to grow. In particular, for China, the United States will become an important source of crude oil imports for our country in the future, and the two countries will shift from the past of energy competition to energy cooperation. Sino-US energy trade will play a more active role in economic and trade cooperation between the two countries.
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The reforms in oil and gas sector have been accelerated in 2015. The reform of mineral rights has begun and 6 oil and gas exploration zones in Xinjiang Autonomous Region have served as the tender pilots, breaking through the requirements on the resources varieties, exploration phase and enterprise qual!fication. The right of importing and using of the crude oil has been gradually relaxed and 13 local refineries have obtained the right to use imported crude oil of 55.1888 million tons per year. The natural gas price for non-residential use was unified and a universal price was set ~r the incremental supply and existing supply. Tire Shanghai Petroleum and Gas Exchange （SHPGX） was established and laid foundation for the market mechanism to detervnine the price. The government governance has undergone continuous adjustments such as regulating the tax instead of charging the fees, streamlining administration and delegating power to tire lower levels.The Guidelines on Deepening tire Reform of State-owned Enterprises was released, symbolizing the accomplishment of the overall planning ~ the SOE reform.
