This article has suggested that high oil price could loom many years in the future and has analyzed the impact of this trend on the oil product mix and petroleum refining industry in China. This article has also put f...This article has suggested that high oil price could loom many years in the future and has analyzed the impact of this trend on the oil product mix and petroleum refining industry in China. This article has also put forward measures for sharpening the international competitive edge of China’s petroleum refining indus- try to cope with the challenges of high oil price.展开更多
This articles focuses on analysis of the changing trend relating to crude supply and petroleum products demand inside China, while introducing the preliminary progress resulted from restructuring of China’s refining ...This articles focuses on analysis of the changing trend relating to crude supply and petroleum products demand inside China, while introducing the preliminary progress resulted from restructuring of China’s refining industry and dynamics of competition among Chinese refining enterprises. This article has made a preliminary judgment and analysis on the situation facing China’s refining industry and may serve as a reference to refiners intending to develop refining business inside China.展开更多
The recent growth of the global petroleum refining industry and the main technologies and measures for China to process inferior crude oil were introduced. The main technologies and measures include the control over e...The recent growth of the global petroleum refining industry and the main technologies and measures for China to process inferior crude oil were introduced. The main technologies and measures include the control over equipment corrosion induced by sour and acidic crude, in particular the corrosion of atmospheric and vacuum distillation units, the development of technology for processing inferior residue, and the development of desulfurization technology and sulfur recovery technology in the course of processing of petroleum products. In order to meet the needs for national economic development, China’s refining enterprises will uninterruptedly develop and prefect technologies for processing inferior crude, enhance the process and equipment management, sum up the experience for better processing of inferior crude, so as to provide high-quality oil products and petrochemical feedstocks to public with better economic return.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
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
文摘This article has suggested that high oil price could loom many years in the future and has analyzed the impact of this trend on the oil product mix and petroleum refining industry in China. This article has also put forward measures for sharpening the international competitive edge of China’s petroleum refining indus- try to cope with the challenges of high oil price.
文摘This articles focuses on analysis of the changing trend relating to crude supply and petroleum products demand inside China, while introducing the preliminary progress resulted from restructuring of China’s refining industry and dynamics of competition among Chinese refining enterprises. This article has made a preliminary judgment and analysis on the situation facing China’s refining industry and may serve as a reference to refiners intending to develop refining business inside China.
文摘The recent growth of the global petroleum refining industry and the main technologies and measures for China to process inferior crude oil were introduced. The main technologies and measures include the control over equipment corrosion induced by sour and acidic crude, in particular the corrosion of atmospheric and vacuum distillation units, the development of technology for processing inferior residue, and the development of desulfurization technology and sulfur recovery technology in the course of processing of petroleum products. In order to meet the needs for national economic development, China’s refining enterprises will uninterruptedly develop and prefect technologies for processing inferior crude, enhance the process and equipment management, sum up the experience for better processing of inferior crude, so as to provide high-quality oil products and petrochemical feedstocks to public with better economic return.
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.
