China’s domestic product oil demand is expected to hit 262 million tons by 2015, able to be satisfied by 270 million tons to be produced domestically by that time, predicted Yang Weijun, the director with the Refining and Petrochem Department of PetroChina Planning and Engineering Institute.

The oil demanded includes 86.3 million tons of gasoline and 176 million
tons of diesel and the crude refining capacity is likely to reach 710
million tons, Yang added.

Yang pointed that affected by the imbalanced regional economy, there
has been a great divergence between East and West China in gasoline and
diesel consumption. In East China and South Central China, gasoline and
diesel consumption accounted for about 29.9 percent and 23.9 percent of
the national total.

However, since China’s major crude production bases are scattered in
Northeast and Northwest China, product oil in these two regions are
oversupplied, thus leaving a relatively large supply shortage in East
and South China.

According to the institute’s prediction, product oil demand in East and
South Central China, the two largest consumers of oil, will climb to
79.25 million tons and 64.26 million tons respectively by 2015.

But acting to settle the imbalance, there are currently under
construction refining and expansion projects, and the North-to-South
and West-to-East production oil transport lines would enormously ease
the supply imbalance.

The refineries of CNPC, Sinopec, CNOOC and, Sinochem in East and South
China will gradually enter into operations from 2010 to 2012. Sinopec’s
10-million-ton refinery in Qingdao and CNOOC’s 12-million-ton refinery
in Huizhou of Guangdong province first began operating in 2008. CNPC’s
Dushanzi 10-million-ton refinery has begun operation recently.

It is estimated that in the Eleventh Five-year period, China’s newly
added refining capacity would accumulate to 100 million tons with 19
10-million-ton refineries. The total refining capacity will exceed 500
million tons by 2010.

Source: Xinhua

Search to find what you want

• Sinopec refinery capacity to 30mn tonnes Rise in 2015

    China Petroleum & Chemical Corporation, one of Asia’s top oil refineries, will witness an oil processing capacity increase of 30 million tons in 2015, after the completion of some petrochemical projects.

• China crude oil imports rise by 15% in 2010

    World’s second largest oil consumer China said it’s crude oil imports are expected to grow by 12 to 15 percent in 2010. According to country’s General Administration of Customs, this will amounted between 230 million tons and 235 million tons

• China Refining, Rise, production of crude oil purchases, says Poten

    China, the world’s second-largest energy consumer, may boost refining capacity by more than 10 percent by 2014, leading to gains in crude imports, according to calculations based on estimates by Poten & Partners. China’s capacity to convert crude into petroleum products may rise to more than 7.5 million barrels a

• China Jan Crude Oil Tops Stock 26.8mn

    China’s crude oil inventory, excluding the reserve stock, topped 26.8 million tons in January 2010, while the inventory of finished oil stood at 17.78 million tons, which includes 6.63 million tons of gasoline, 9.53 million tons of diesel, and 1.62 million tons of kerosene, according to the latest calculations of

• Cargo volumes through Ningbo-Zhoushan Port (East China) by 9.6%, at 570 million tons in 2009

    Throughput in Ningbo-Zhoushan Port (East China) totaled 570 million tons in 2009, 50 million tons more than in the previous year (+10%), while foreign-trade volume was at 240 million tons, China Knowledge reports. The statistics were provided by the Zhejiang Shipping Administration and the Ministry of Transport of China. The

• In October, SOCAR, increasing global oil production by 2.6% and its own production by 3.4%

    This October the State Oil Company of Azerbaijan (SOCAR) increased overall oil production by 2.6% as compared to September of the year, with increase of its own production by 3.4% by the SOCAR oil and gas producing divisions (NGDUs). For Jan-Oct 2009 overall oil production (taking into account gas condensate)

• Sinopec Shanghai to process 10 million tons of oil this year

    Sinopec Shanghai Petrochemical Co Ltd, which is the largest ethylene producer in China and a subsidiary of Sinopec Group, plans to refine more than 10 million tons of crude oil in 2010 or 200,800 barrels per day, said Sinopec Group in a statement on Friday.

• Coal production in Hami, Xinjiang more than 12 million tonnes

    Hami Prefecture, an important coal base in Xinjiang Uygur Autonomous Region that plays a key role in supplying coal to East China , last year produced 12.76 million tons of coal, 56.5% more year on year, and sold 11.08 million tons, 6.09 million tons of which were sold outside the

• Russian oil production by 1.2% to 3.63 billion barrels in 2009

    Russian oil output rose 1.2% to 494 million metric tons (3.63 bln bbl), and natural gas production declined 12.1% to 584 billion cubic meters in 2009 year-on-year, the country’s statistics service said.

• China processes more crude oil by 29% in January

    China Petroleum & Chemical Industry Association said the country’s crude oil processing volume rose 29% year-on-year to 30.14 million metric tons in January, driven by surging demand and economic recovery. The country processed 500,00 tons more crude oil in January than in December, while the oil product output increased 24%

• Xinjiang to reach 226 million tons of annual coal production

    The Xinjiang Uygur Autonomous Region, which has abundant coal resources, is planning to boost its coal production capacity by launching 139 large and medium-sized coal mines by 2010, the Coal Industry Administration of Xinjiang said on Sunday.  The 139 projects approved by the regional government of Xinjiang are expected to raise

• CNPC and Sinopec stocks push oil prices cut – report

    China National Petroleum Corp (CNPC) and China Petroleum & Chemical Corporation (Sinopec), the country’s leading oil and gas producers, began to heat up wholesale prices of refined oil following the rebound of crude oil prices in the international marketplace. Between Feb. 20 and Feb.

• China Oct-Nov sugar production rose to 6.12 million tonnes

    China produced 6.12 million metric tons of sugar in the crop year to January 31.

• China s steel exports broke 3mln tonnes in December 2009

    According to the latest statistics from Customs, China exported steel of 3.34mln tons in December of 2009, up 490,000 tons from November, up 5.36% from a year earlier.

• China Petrochemical baseline rise in 2010

    Output value of China’s petroleum and petrochemical industry this year is expected to soar between 13% and 15% year on year.