Analysis of China's Oil Imports and Exports Situation

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 refined 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.     

China's Oil & Gas Imports and Exports in 2014

Domestic economic growth and oil demand growth lagged behind the expected in 2014, and net crude oil imports broke 300 million tons for the first time. Slower demand growth resulted in more severe surplus of refining capacity. Refined oil imports decreased by more than 10 million tons and net imports dropped to 700,000 tons in 2014. Liquefied petroleum gas(LPG) market boomed again and LPG imports created a new high of 7.1 million tons driven by chemical raw materials. The expanding momentum of imported natural gas market weakened obviously, but import dependence rose to 31%.     

Panorama of China ''''s Oil and LPG Imports and Exports in 2001

1. Crude oilChina 's dependence on oil imports (namely the proportion of the net imports to the domestic demand) slightly declined in 2001 in spite of the long-term upward trend. The net oil imports of the country including crude and oil products dropped to 64.9 million tons in 2001 from 69.6 million tons in the previous year, a 6.7 percent decline. The net import of crude fell while the import of oil products rose owing to the dramatic increase of fuel oil imports. The crude imports dropped t…     

Oil Import and Export in China

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 million 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. Imported liquefied petroleum gas market will enter into a stage of stable growth after two years' rapid development.     

中国液化石油气生产与进出口现状及展望

2009年,液化石油气市场价格降低和裂解原料需求增加,使炼油厂液化石油气产量增长幅度明显落后于原油加工量增幅。价格下降刺激民用需求回升,同时炼油厂限制商品液化石油气产量带来的供应缺口使液化石油气进口量跃升57%,升至409×104t,并回到2007年的进口量水平。出口增长因主要出口市场越南进口量减少而减慢。国内天然气市场正处在高速增长的时期,过去5年来天然气消费量年均增幅达17%,预计2010年将达到1050×108m3,受冲击最大的是燃料油和液化石油气,液化石油气需求增长将受到严重阻碍。分析指出,燃气市场结构的变化迫使炼油厂在加工量提高的前景下谋求为增产的液化石油气寻找销路,包括裂解原料在内的化工利用可能是最好的利用途径。     

China's Oil Imports and Exports in 2008

The net imports of oil,including crude oil,refined oil,LPG and other oil products,increased by 9.5% in 2008 and rose to 200.67 million tons from 183.28 million tons in 2007 (Fig.1,Fig.2).The net imports of crude oil reached 175.16 million tons,up by 9.9%.According to the statistics of State Customs Administration,the net imports of oil products,including gasoline,kerosene,diesel and fuel oil increased by 19.4% and rose to 21.84 million tons.     

China’s Oil Imports and Exports in 2009

<正>The so-called imported oil dependence degree commonly refers to the proportion of oil imported to China’s oil consumption, which hit 56% in 2009 and has exceeded 50% in 2007. In the past two years, the     

China＇s Oil Imports and Exports in 2007

The net imports of oil increased by 8.4% in China in 2007, hitting the record of 183.48 million tons （Fig.1）. The net imports of crude oil and other oil products including paraffin wax, oil coke, and asphalt increased and balanced out the decrease of the net imports of product oil and liquefied petroleum gas （LPG）. The net imports of crude oil reached 159.35 million tons, up 14.8%. In 2006, a lot of refining refineries were newly built and expanded, as a result, the crude processing capacity of domestic refineries increased by 6.4% and rose to 326.79 million tons in 2007.     

Sinopec Sees Tremendous Rise in Its First-half Net Profit

Sinopec Corp, China's second largest oil producer,released its first-half net profit on August 30, which rose 51 percent to 16 billion yuan (US$2 billion) owing to the increased domestic demand and higher oil prices. Earnings per share rose from 0.12 yuan to 0.19 yuan. The company produced 136 million barrels of oil and 100 billion cubic feet of natural gas in the first six months of this year. Sinopec expects that the global demand for crude oil will continue to grow in the second half, with crude oil prices fluctuating at a relatively high level.     

劣质原油加工企业增产汽油的实践

介绍了国内某单套系列千万吨级炼油厂为降低柴汽比、增产汽油,在加工高硫劣质原油条件下,通过优化生产方案、增产催化裂化原料、拓宽连续重整原料、优化全厂工艺流程、精细化操作、优化汽油调合方案、实行产品质量卡边控制等多项措施,每月增产汽油约25 kt。汽油与柴油净价差按499 RMB$/t计,全年累计增效1.5×108RMB$。实践结果表明,劣质原油加工企业增产汽油工作取得了较好的成效,提高了企业经济效益,同时为满足市场汽油需求做出了贡献。     

Prospect Analysis of the United States' Crude Oil Exports to the Asia-Pacific Region

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.     

惠州大型石化产业园区的国际化塑造

＂十一五＂期间,我国炼油行业取得了快速发展,原油加工量、成品油产量都有较大增幅。2011年,全国原油加工能力已超过500 Mt/a,成品油产量约270 Mt/a。在保障市场需求的同时,炼油行业整体水平进一步提高,企业综合实力显著增强。依照＂十一五＂炼油产业发展规划,根据靠近资源、贴近市场、方便运输、循环经济的要求,为优化炼油产业布局,实现上下游一体化、炼油化工一体化、炼油储备一体化集约发展,中国海洋石油总公司（以下简称＂中国海油＂）拟依托惠州炼厂、中海壳牌等惠州大亚湾开发区现有基础设施,将惠州大亚湾开发区打造成世界级的一体化石化园区。     

New Perspectives to Sustain Energy Supply

China should try to free itself of excessive dependence on the world energy market and set up a self-reliant energy structure for the sustainable development of its growing economy. The country's dependence on energy imports has been rising in recent years. According to statistics released by General Administration of Customs,last year, the net crude oil imported by the world's third largest economy was 175 million tons against 189 million tons produced at home. That means for 50 percent of its crude oil demand, China is dependent on foreign markets.This poses a serious challenge to the country's energy security and its sustainable development.     

新世纪我国石油的消费和经济发展

改革开放20年，我国经济迅速发展，石油消费和一次能源消费总量均翻了一番，成为世界能源消费大国，同时也由一个石油出口国变成一个石油进口大国。随着经济发展、产业结构调整、节能和技术进步，未来几年我国能源消费将相对稳步增长，但增幅不大。但是，随着工业化和城镇化进程的加快以及汽车时代的逐步到来，我国对石油需求将呈强劲增长态势，石油进口量将逐步增加。为减少经济增长对能源和石油的依赖程度，要坚持节约和开发并重，抑制石油需求过度膨胀，促进可持续发展。     

上半年石油工业经营情况及下半年走势预测

今年上半年我国石油工业基本保持平稳、健康的发展格局:油气产量和消费需求均持续增长,油气开采业大幅盈利,原油加工业仍然亏损,投资大幅度增长,原油进口依存度加大。下半年需要采取的应对措施是:进一步完善成品油价格形成机制;规范和引导上海石油交易所健康运行;加强天然气管理,作好需求预测;实施石油替代激励政策。预计下半年国际油价继续走高的可能性较大;我国全年石油表观消费可能会突破3亿吨,进口依存度继续在40%以上。     

2005年原油及华北地区液化石油气市场回顾

简要介绍了国内液化石油气（LPG）市场情况及2005年国际原油价格走势特点．阐述了国际原油价格与国内LPG市场的相互关系。对2005年华北地区LPG市场价格上扬的原因进行了分析．认为由于国际原油价格突飞猛进，进口气数量减少，造成LPG资源缺口，导致LPG市场价格上扬。预测了2006年国际原油价格和华北地区LPG市场价格的走势并指出建立和完善能源储备制度才是制止LPG价格频繁上涨的有效并且长远的办法。     

China''s Fuel Oil Imports Continues to Hit Record High

China, the world's second-largest oil consumer, has managed to set a new full-year record for fuel oil imports in just 10 months, a clear sign of its appetite for refined oil products will continue unabated next year. According to data issued in late-November by China's General Administration of Customs, the country imported 2.1 million metric tons of fuel oil in October, up 26 percent from the same month last year, bringing total imports in the first 10 months to 24.76million tons.     

Sinopec Builds World-class Refinery in Qingdao

Sinopec launched a subsidiary company in midNovember, Sinopec Qingdao Refinery and Chemical Company, to construct and operate a US$ 1.2 billion refinery in Qingdao, East China's Shandong Province. The refinery,which was first initiated 12 years ago, is an important move for Sinopec to complete its refinery deployment along the coast line to cash in on rapid market growth and better handle imports of crude oil.     

China Crude Oil Imports and Oil Market-oriented Reform

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 companies granted with access to imported crude oil and 6 were qualified to import rights. Currently, there are 29 non-state-owned companies engaging in crude import business. China oil market is faced with severe challenges. The 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 would become fiercer in future. Overcapacity was about 140 million tons per year in 2015. Consumption ratio of diesel to gasoline went on declining, and the task of product structure adjustment was heavy. China oil market is undergoing great transformation, and institutional mechanism will 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 and government pricing of oil/gas downstream links, vigorous resolving of overcapacity, strengthening low-carbon development, and laying a solid foundation for guarantee.     

Increase in the Efficiency of Use of Furnace Residual Fuel Oil

Each year domestic industry refines more than 170 million tons of crude oil with an average degree of refining of 71%. Approximately 50 million tons of furnace residual fuel oil is produced. This residual fuel oil is used as boiler fuel, except for a small amount which is exported (8–10 million tons in 2001), including approximately 13% burned directly at the refinery and the remainder burned in thermoelectric plants and boiler plants.