The analysis based on the statistics conducted in the past decades shows that China's oil demand will rise by about 0.7 percent for every 1 percent increase in its gross national product(GNP).The oil demand will h...The analysis based on the statistics conducted in the past decades shows that China's oil demand will rise by about 0.7 percent for every 1 percent increase in its gross national product(GNP).The oil demand will have to climb by 6 percent on average each year if the country registers an average annual increase of 9 percent in its GNP.The oil demand is expected to rise by 5 percent annually in the upcoming years even if the efforts are made to upgrade the equipment and tech-nology and boost the efficiency.展开更多
Along with the speedy development of the economic growth in China, the shortage of oil and gas becomes more and more serious. Based on summarizing some related research results, the prediction of China＇s oil demand a...Along with the speedy development of the economic growth in China, the shortage of oil and gas becomes more and more serious. Based on summarizing some related research results, the prediction of China＇s oil demand and supply in the year 2010 and the year 2020 has been given in the paper. The oil supply and demand situation is discussed on three different levels. Accordingly, suggestions about the oil supply safety and the national economy safety strategies have been given.展开更多
The paper makes a comprehensive prediction of China＇s future demand for oil and gas with two methods, i.e. the prediction method based on the demand for individual oil and gas products and the method for predicting t...The paper makes a comprehensive prediction of China＇s future demand for oil and gas with two methods, i.e. the prediction method based on the demand for individual oil and gas products and the method for predicting the total demand. According to the demand prediction of, and the historical data on, the oil and gas consumption, we conduct an analysis of the oil and gas consumption trends, which can be described as six different development periods. On the other hand, the paper makes a comprehensive analysis of the domestic oil and gas resources and, on this basis, makes a basic prediction of the domestic output of oil and gas. The supply and demand situation is also analyzed. By using the SWOT analysis method, the paper puts forward the development strategies for China＇s oil and gas industry and gives some related strategic measures.展开更多
The link between crude oil price and stock returns of the Group of Seven(G7)countries(Canada,France,Germany,Italy,Japan,the United Kingdom,and the United States)was analyzed in this study using monthly data from Janua...The link between crude oil price and stock returns of the Group of Seven(G7)countries(Canada,France,Germany,Italy,Japan,the United Kingdom,and the United States)was analyzed in this study using monthly data from January 1999 to March 2020.We adopt a similar approach to Kilian(Am Econ Rev 99(3):1053–1069,2009)and construct a structural vector autoregression framework to decompose crude oil price shocks into oil supply shock,oil aggregate demand shock,and oil-specific demand shock.We then explore the distinct effects of different kinds of oil price shocks from various sources.Based on the decomposed oil price shocks,we apply the connectedness approach and QQ regression to find time-varying co-movements and tail dependence between oil price shocks and G7 stock returns.There is no general correlation between the decomposed oil prices and stock returns in these countries.The effects of oil price shocks on stock returns across different stock market conditions appear to be heterogeneous.Oil supply shock appears to be a net transmitter of spillover effects for all G7 countries within the sample period.展开更多
Biodiesel utilization has been rapidly growing worldwide as the prime alternative to petrodiesel due to a global rise in diesel fuel demand along with hazardous emissions during its thermochemical conversion.Although,...Biodiesel utilization has been rapidly growing worldwide as the prime alternative to petrodiesel due to a global rise in diesel fuel demand along with hazardous emissions during its thermochemical conversion.Although,several debatable issues including feedstock availability and price,fuel and food competition,changes in land use and greenhouse gas emission have been raised by using edible as well as inedible feedstocks for the production of biodiesel.However,non-crop feedstocks could be a promising alternative.In this article,waste cooking oils have been recommended as a suitable option for biodiesel production bearing in mind the current national situation.The important factors such as the quantity of waste cooking oil produced,crude oil and vegetable oil import expenses,high-speed diesel imports,waste management issues and environmental hazards are considered.Moreover,process simulation and operating cost evaluation of an acid catalyzed biodiesel production unit are also conducted.The simulation results show that the production cost of waste cooking oil-based biodiesel is about 0.66 USD·L-1.We believe that the present overview would open new pathways and ideas for the development of biofuels from waste to energy approach in Pakistan.展开更多
By analyzing the distribution of global oil and gas fields and the reasons why some oil and gas fields are not in production, the distribution characteristics of oil and gas remaining recoverable reserves and their ye...By analyzing the distribution of global oil and gas fields and the reasons why some oil and gas fields are not in production, the distribution characteristics of oil and gas remaining recoverable reserves and their year-on-year changes, the distribution characteristics of oil and gas production and their year-on-year changes, and the development potential of oil and gas to be tapped in 2021, this paper sorts out systematically the current status and characteristics of global oil and gas development, summaries the major trends of global oil and gas development, puts forward enlightenment for international oil and gas cooperation. In 2021, oil and gas fields were widely distributed, the number of non-producing oil and gas fields was large;the whole oil and gas remaining recoverable reserves declined slightly, unconventional oil and gas remaining recoverable reserves dropped significantly;the overall oil and gas production continuously increased, the outputs of key resource-host countries kept year-on-year growth;undeveloped oilfields had abundant reserves and great development potential. Combined with global oil and gas geopolitics, oil and gas industry development trends, oil and gas investment intensity, and the tracking and judgment of hotspot fields, the major trends of global oil and gas development in 2021 are summarized. On this basis, the four aspects of enlightenment and suggestions for international oil and gas cooperation and development strategies are put forward: attach great importance to the obligation of marine abandonment to ensure high-quality and long-term benefit development of offshore oil and gas;adhere to the principle of not going to dangerous and chaotic places, strengthen the concentration of oil and gas assets, and establish multi stable supply bases;based on the multi-scenario demand of natural gas, realize the transformation from integrated collaboration to full oil and gas industry chain development;increase the acquisition of high-quality large-scale assets, and pay attention to the continuous optimization of the shareholding ratio of projects at different stages.展开更多
Through analysis of the current situation and newly-increased production capacity-of the oil refining industry of China, this Paper discusses both the continuous expansion trend and the serious excess of production ca...Through analysis of the current situation and newly-increased production capacity-of the oil refining industry of China, this Paper discusses both the continuous expansion trend and the serious excess of production capacity of the oil refining industry of China. Due to the entry of the Chinese economy into the new normal,the accelerated substitution of old energy by new energy and rigid restrictions composed of low carbon and environmental protection requirements, the oil demand of China will continue to increase overall, but the growth will obviously slow down. At the same time, the newly-increased production capacity in Shandong and coastal region will continuously expand, the supply and demand contradiction will intensify, and the structural excess production capacity of the oil refining industry of China will be prominent. It is suggested that the government should attach great importance to the production capacity of the oil refining industry at the macro level, and deeply carry forward the supply side structural reform, and that enterprises should speed up technical innovation,enhance regional and layout optimization, adapt to market changes and adjust product structure, control oil refining but increase chemical engineering, improve product quality and production efficiency, and constantly promote the international competitiveness of the Chinese petrochemical industry.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
Palm oil mill effluent (POME) is liquid waste produced from palm oil extraction process. Discharging it to the river without treatment is violation according to Malaysia Environment of Quality Act (EQA) 1974. In Malay...Palm oil mill effluent (POME) is liquid waste produced from palm oil extraction process. Discharging it to the river without treatment is violation according to Malaysia Environment of Quality Act (EQA) 1974. In Malaysia, ponding system is a conventional treatment method for POME due to its economical and simple process. The treatment process mainly involves two main treatment phases;anaerobic and aerobic degradation. Anaerobic degradation has a proven track record in reducing pollutant properties in POME up to 85%. The real challenge is to increase the efficiency of aerobic process as the biological oxygen demand (BOD) discharge limit has been further reduced from 100 mg·L<sup>-1</sup> to less than 20 mg·L<sup>-1</sup>. One of economical and feasible approach to increase the efficiency of aerobic phase is via bioremediation. This paper describes the limitation of aerobic degradation in ponding system, besides discussed on the important aspects that need to be optimized for a success implementation of bioremediation and its challenges.展开更多
文摘The analysis based on the statistics conducted in the past decades shows that China's oil demand will rise by about 0.7 percent for every 1 percent increase in its gross national product(GNP).The oil demand will have to climb by 6 percent on average each year if the country registers an average annual increase of 9 percent in its GNP.The oil demand is expected to rise by 5 percent annually in the upcoming years even if the efforts are made to upgrade the equipment and tech-nology and boost the efficiency.
文摘Along with the speedy development of the economic growth in China, the shortage of oil and gas becomes more and more serious. Based on summarizing some related research results, the prediction of China＇s oil demand and supply in the year 2010 and the year 2020 has been given in the paper. The oil supply and demand situation is discussed on three different levels. Accordingly, suggestions about the oil supply safety and the national economy safety strategies have been given.
文摘The paper makes a comprehensive prediction of China＇s future demand for oil and gas with two methods, i.e. the prediction method based on the demand for individual oil and gas products and the method for predicting the total demand. According to the demand prediction of, and the historical data on, the oil and gas consumption, we conduct an analysis of the oil and gas consumption trends, which can be described as six different development periods. On the other hand, the paper makes a comprehensive analysis of the domestic oil and gas resources and, on this basis, makes a basic prediction of the domestic output of oil and gas. The supply and demand situation is also analyzed. By using the SWOT analysis method, the paper puts forward the development strategies for China＇s oil and gas industry and gives some related strategic measures.
基金This work is supported by the National Natural Science Foundation of PRC(71971098).
文摘The link between crude oil price and stock returns of the Group of Seven(G7)countries(Canada,France,Germany,Italy,Japan,the United Kingdom,and the United States)was analyzed in this study using monthly data from January 1999 to March 2020.We adopt a similar approach to Kilian(Am Econ Rev 99(3):1053–1069,2009)and construct a structural vector autoregression framework to decompose crude oil price shocks into oil supply shock,oil aggregate demand shock,and oil-specific demand shock.We then explore the distinct effects of different kinds of oil price shocks from various sources.Based on the decomposed oil price shocks,we apply the connectedness approach and QQ regression to find time-varying co-movements and tail dependence between oil price shocks and G7 stock returns.There is no general correlation between the decomposed oil prices and stock returns in these countries.The effects of oil price shocks on stock returns across different stock market conditions appear to be heterogeneous.Oil supply shock appears to be a net transmitter of spillover effects for all G7 countries within the sample period.
基金Supported by Higher Education Commission(HEC)of Pakistan(No.21-1084).
文摘Biodiesel utilization has been rapidly growing worldwide as the prime alternative to petrodiesel due to a global rise in diesel fuel demand along with hazardous emissions during its thermochemical conversion.Although,several debatable issues including feedstock availability and price,fuel and food competition,changes in land use and greenhouse gas emission have been raised by using edible as well as inedible feedstocks for the production of biodiesel.However,non-crop feedstocks could be a promising alternative.In this article,waste cooking oils have been recommended as a suitable option for biodiesel production bearing in mind the current national situation.The important factors such as the quantity of waste cooking oil produced,crude oil and vegetable oil import expenses,high-speed diesel imports,waste management issues and environmental hazards are considered.Moreover,process simulation and operating cost evaluation of an acid catalyzed biodiesel production unit are also conducted.The simulation results show that the production cost of waste cooking oil-based biodiesel is about 0.66 USD·L-1.We believe that the present overview would open new pathways and ideas for the development of biofuels from waste to energy approach in Pakistan.
基金Scientific Research and Technology Development Project(2021DJ3205)。
文摘By analyzing the distribution of global oil and gas fields and the reasons why some oil and gas fields are not in production, the distribution characteristics of oil and gas remaining recoverable reserves and their year-on-year changes, the distribution characteristics of oil and gas production and their year-on-year changes, and the development potential of oil and gas to be tapped in 2021, this paper sorts out systematically the current status and characteristics of global oil and gas development, summaries the major trends of global oil and gas development, puts forward enlightenment for international oil and gas cooperation. In 2021, oil and gas fields were widely distributed, the number of non-producing oil and gas fields was large;the whole oil and gas remaining recoverable reserves declined slightly, unconventional oil and gas remaining recoverable reserves dropped significantly;the overall oil and gas production continuously increased, the outputs of key resource-host countries kept year-on-year growth;undeveloped oilfields had abundant reserves and great development potential. Combined with global oil and gas geopolitics, oil and gas industry development trends, oil and gas investment intensity, and the tracking and judgment of hotspot fields, the major trends of global oil and gas development in 2021 are summarized. On this basis, the four aspects of enlightenment and suggestions for international oil and gas cooperation and development strategies are put forward: attach great importance to the obligation of marine abandonment to ensure high-quality and long-term benefit development of offshore oil and gas;adhere to the principle of not going to dangerous and chaotic places, strengthen the concentration of oil and gas assets, and establish multi stable supply bases;based on the multi-scenario demand of natural gas, realize the transformation from integrated collaboration to full oil and gas industry chain development;increase the acquisition of high-quality large-scale assets, and pay attention to the continuous optimization of the shareholding ratio of projects at different stages.
文摘Through analysis of the current situation and newly-increased production capacity-of the oil refining industry of China, this Paper discusses both the continuous expansion trend and the serious excess of production capacity of the oil refining industry of China. Due to the entry of the Chinese economy into the new normal,the accelerated substitution of old energy by new energy and rigid restrictions composed of low carbon and environmental protection requirements, the oil demand of China will continue to increase overall, but the growth will obviously slow down. At the same time, the newly-increased production capacity in Shandong and coastal region will continuously expand, the supply and demand contradiction will intensify, and the structural excess production capacity of the oil refining industry of China will be prominent. It is suggested that the government should attach great importance to the production capacity of the oil refining industry at the macro level, and deeply carry forward the supply side structural reform, and that enterprises should speed up technical innovation,enhance regional and layout optimization, adapt to market changes and adjust product structure, control oil refining but increase chemical engineering, improve product quality and production efficiency, and constantly promote the international competitiveness of the Chinese petrochemical industry.
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Palm oil mill effluent (POME) is liquid waste produced from palm oil extraction process. Discharging it to the river without treatment is violation according to Malaysia Environment of Quality Act (EQA) 1974. In Malaysia, ponding system is a conventional treatment method for POME due to its economical and simple process. The treatment process mainly involves two main treatment phases;anaerobic and aerobic degradation. Anaerobic degradation has a proven track record in reducing pollutant properties in POME up to 85%. The real challenge is to increase the efficiency of aerobic process as the biological oxygen demand (BOD) discharge limit has been further reduced from 100 mg·L<sup>-1</sup> to less than 20 mg·L<sup>-1</sup>. One of economical and feasible approach to increase the efficiency of aerobic phase is via bioremediation. This paper describes the limitation of aerobic degradation in ponding system, besides discussed on the important aspects that need to be optimized for a success implementation of bioremediation and its challenges.
