Crude oil imports in China are mainly carried out by state-owned entities with non state-owned entities as compliment. Crude imported by 5 state-owned entities accounts for 90% of the total imports, while non state-ow...Crude oil imports in China are mainly carried out by state-owned entities with non state-owned entities as compliment. Crude imported by 5 state-owned entities accounts for 90% of the total imports, while non state-owned entities are about given more freedom in using and importing crude. In 2015 only, there were 13 compauies graftted rcritlt access to imported crude oil and 6welv qualiied to import rights. Currently, there are 29 non-state-owned companies engaging in crude import business. China oil market is .faced with severe challenges. Ttre growth rate of oil demand declined, and dependence upon imported oil increased and reached as high as 61.26% in 2015. Refined oil demand growth also slowed down, and oil refining overcapacity got prominent and completion wouht become fiercer＂ in future. Overcapacity was about 140 million toils per year in 2015. Consumption ratio of diesel to gasoline went on declining, and ttre task of product structure adjustment was heavy. China oil market is undergoing great transformation, and institutional mechanism zoill go ahead, on the basis of centering on orderly release of limitations on crude oil and refined oil import and export, orderly release of competitive business arrd government pricing of oil/gas downstream links, vigorous resolving of overcapacity, strengthening low-carbon development, and laying a solid foundation.for guarantee.展开更多
In Japan, crude oil use depends almost exclusively on imports, mainly from the Middle East. Therefore, guaranteeing crude oil imports is an important issue for the Japanese energy policy. To analyze the impact of a de...In Japan, crude oil use depends almost exclusively on imports, mainly from the Middle East. Therefore, guaranteeing crude oil imports is an important issue for the Japanese energy policy. To analyze the impact of a decrease in crude oil imports, two features of crude oil as an energy good should be taken into consideration, namely being a factor of production in the energy sector and feedstock in petroleum and coal products. This study uses the GTAP and GTAP-E models to evaluate the impact of the decrease in crude oil imports in Japan, applying the same methodology and exogenous values, and analyzes the difference of the simulation results between the two models. In Japan, crude oil is used in two sectors： as feedstock in petroleum and coal products, and as a factor of production in the electricity sector. When energy goods are used as feedstock, the GTAP model, in which energy goods are treated as intermediate inputs with fixed coefficients, is suitable for analysis. The GTAP-E model, which incorporates an energy substitution structure into the GTAP model, is, on the other hand, suitable for analyzing energy goods when they are used as a factor of production. Furthermore, this study uses both a static analysis and an analysis incorporating capital accumulation effects to evaluate short-term, as well as medium to long-term impacts. The simulation results clearly indicate that, in the GTAP-E model, when crude oil imports from the Middle East decrease, Japan attempts to increase its crude oil imports from other regions, but by less than in the case of the GTAP model. The results of this study show that, for energy goods used mainly as feedstock, such as crude oil, analysis with fixed coefficients presents more realistic simulation results than those using the energy substitution structure.展开更多
China’s crude oil imports hit a record high in the first half of 2016 despite an economic slowdown,and analysts largely attributed the surge to low prices,not strategic maneuvering.The country imported 186.5 million ...China’s crude oil imports hit a record high in the first half of 2016 despite an economic slowdown,and analysts largely attributed the surge to low prices,not strategic maneuvering.The country imported 186.5 million tons of crude oil in the first half of the year,23.15 million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 Government has actively introduced oil and gas policies to promote the sustainable and healthy development of the industry it, 2017. The purposes of such policies are： to accelerate the reform of mineral resource...The Government has actively introduced oil and gas policies to promote the sustainable and healthy development of the industry it, 2017. The purposes of such policies are： to accelerate the reform of mineral resource royalties and advance the competitive transfer of mining rights; to promote the reform of the natural gas price, introduce cost supervision on long-distance natural gas pipeline enterprises in the area of gas pipeline transportation, and strengthen the regulation qf the distribution price; to liberalize the import qf crude oil in an orderly manner, increase the allowable volume of non-state trading crude oil imports, strengthen the supervision and periodically pause the approval of the right to use imported crude oil; and to enhance environmental protection.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Crude oil imports in China are mainly carried out by state-owned entities with non state-owned entities as compliment. Crude imported by 5 state-owned entities accounts for 90% of the total imports, while non state-owned entities are about given more freedom in using and importing crude. In 2015 only, there were 13 compauies graftted rcritlt access to imported crude oil and 6welv qualiied to import rights. Currently, there are 29 non-state-owned companies engaging in crude import business. China oil market is .faced with severe challenges. Ttre growth rate of oil demand declined, and dependence upon imported oil increased and reached as high as 61.26% in 2015. Refined oil demand growth also slowed down, and oil refining overcapacity got prominent and completion wouht become fiercer＂ in future. Overcapacity was about 140 million toils per year in 2015. Consumption ratio of diesel to gasoline went on declining, and ttre task of product structure adjustment was heavy. China oil market is undergoing great transformation, and institutional mechanism zoill go ahead, on the basis of centering on orderly release of limitations on crude oil and refined oil import and export, orderly release of competitive business arrd government pricing of oil/gas downstream links, vigorous resolving of overcapacity, strengthening low-carbon development, and laying a solid foundation.for guarantee.
文摘In Japan, crude oil use depends almost exclusively on imports, mainly from the Middle East. Therefore, guaranteeing crude oil imports is an important issue for the Japanese energy policy. To analyze the impact of a decrease in crude oil imports, two features of crude oil as an energy good should be taken into consideration, namely being a factor of production in the energy sector and feedstock in petroleum and coal products. This study uses the GTAP and GTAP-E models to evaluate the impact of the decrease in crude oil imports in Japan, applying the same methodology and exogenous values, and analyzes the difference of the simulation results between the two models. In Japan, crude oil is used in two sectors： as feedstock in petroleum and coal products, and as a factor of production in the electricity sector. When energy goods are used as feedstock, the GTAP model, in which energy goods are treated as intermediate inputs with fixed coefficients, is suitable for analysis. The GTAP-E model, which incorporates an energy substitution structure into the GTAP model, is, on the other hand, suitable for analyzing energy goods when they are used as a factor of production. Furthermore, this study uses both a static analysis and an analysis incorporating capital accumulation effects to evaluate short-term, as well as medium to long-term impacts. The simulation results clearly indicate that, in the GTAP-E model, when crude oil imports from the Middle East decrease, Japan attempts to increase its crude oil imports from other regions, but by less than in the case of the GTAP model. The results of this study show that, for energy goods used mainly as feedstock, such as crude oil, analysis with fixed coefficients presents more realistic simulation results than those using the energy substitution structure.
文摘China’s crude oil imports hit a record high in the first half of 2016 despite an economic slowdown,and analysts largely attributed the surge to low prices,not strategic maneuvering.The country imported 186.5 million tons of crude oil in the first half of the year,23.15 million
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 Government has actively introduced oil and gas policies to promote the sustainable and healthy development of the industry it, 2017. The purposes of such policies are： to accelerate the reform of mineral resource royalties and advance the competitive transfer of mining rights; to promote the reform of the natural gas price, introduce cost supervision on long-distance natural gas pipeline enterprises in the area of gas pipeline transportation, and strengthen the regulation qf the distribution price; to liberalize the import qf crude oil in an orderly manner, increase the allowable volume of non-state trading crude oil imports, strengthen the supervision and periodically pause the approval of the right to use imported crude oil; and to enhance environmental protection.
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.
