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
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
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
Growth rate of oil demand rose again in China in the first half of 2015. Demand for oil products went on differentiating, and the demand growth of most products sped up. Growth rate of oil production rose again, oil i...Growth rate of oil demand rose again in China in the first half of 2015. Demand for oil products went on differentiating, and the demand growth of most products sped up. Growth rate of oil production rose again, oil imports increased rapidly, and external dependence of crude oil and oil broke through 60% separately. The State adjusted the prices of gasoline and diesel timely and frequently, based on pricing mechanism. Price hike was higher than reduction. Oil market got weak, yet more stable. China increased the pace of reforms in marketization. In the second half, oil demand will increase continuously but with lower growth rate, oil production will rise more slowly, imports of crude oil and oil will keep on rising rapidly, gasoline and kerosene as well as diesel will witness a net import, and the market of gasoline, kerosene and diesel will be more stable.展开更多
China has quickly risen to the top ranks in global energy demand over the past few years.China is the world’s second-largest oil consumer behind the United States and became the largest global energy consumer in2010....China has quickly risen to the top ranks in global energy demand over the past few years.China is the world’s second-largest oil consumer behind the United States and became the largest global energy consumer in2010. The country was a net oil exporter until the early 1990s and became the world＇s second-largest net importer of crude oil and petroleum products in 2009. Then the country became the world＇s largest oil importer in 2014. Meanwhile, China＇s oil consumption growth accounted for one-third of the world＇s oil consumntion growth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Growth rate of oil demand rose again in China in the first half of 2015. Demand for oil products went on differentiating, and the demand growth of most products sped up. Growth rate of oil production rose again, oil imports increased rapidly, and external dependence of crude oil and oil broke through 60% separately. The State adjusted the prices of gasoline and diesel timely and frequently, based on pricing mechanism. Price hike was higher than reduction. Oil market got weak, yet more stable. China increased the pace of reforms in marketization. In the second half, oil demand will increase continuously but with lower growth rate, oil production will rise more slowly, imports of crude oil and oil will keep on rising rapidly, gasoline and kerosene as well as diesel will witness a net import, and the market of gasoline, kerosene and diesel will be more stable.
文摘China has quickly risen to the top ranks in global energy demand over the past few years.China is the world’s second-largest oil consumer behind the United States and became the largest global energy consumer in2010. The country was a net oil exporter until the early 1990s and became the world＇s second-largest net importer of crude oil and petroleum products in 2009. Then the country became the world＇s largest oil importer in 2014. Meanwhile, China＇s oil consumption growth accounted for one-third of the world＇s oil consumntion growth
