China Petroleum
Industry Analysis Report 2007
Published: Jan 21st 2007
Table of contents
1. General situation of China's petroleum industry 4
1.1 Main characteristics of China's petroleum industry 4
1.2 Management system of China's petroleum industry 4
1.2.1 Subject of management system of China's petroleum industry 4
1.2.2 Analysis of present situation of management system of petroleum & gas industry 5
1.2.3 Future development trend of management system of petroleum & gas industry 6
1.2.4 Management objective of petroleum & gas industry 7
1.3 Analysis of investment and financing system of China's petroleum industry 7
1.3.1 Analysis of subject of investment and financing 7
1.3.2 Historical transformation of investment and financing system and its impact 8
1.3.2.1 Period of planned economy (1949-1979) 8
1.3.2.2 Period of reform and opening up 9
1.3.3 Present situation of investment and financing system 9
1.3.4 Future trend analysis of investment and financing system 10
1.4 Effect of policy on industry development 11
1.4.1 Investment and financing policy of petroleum & gas industry 11
1.4.2 Taxation policy of petroleum & gas industry 13
1.4.2.1 Resources tax 13
1.4.2.2 Value-added tax (VAT) 13
1.4.2.3 Informal taxes 14
1.4.2.3.1 China Petrochemical Corp. 14
1.4.2.3.2 China National Petroleum 14
1.5 Effect of technological progress on industry 15
1.5.1 Scientific achievements of petroleum & gas and development of petroleum & gas industry 15
1.5.1.2 Development of geological theory of Chinese petroleum & gas 16
1.5.1.3 Technology of main part of petroleum & gas exploration and exploitation project has reached or approached the world's advanced level 16
1.5.1.4 Update of petroleum & gas industry 17
1.5.2 Several up-to-date technologies in the world's petroleum & gas industry 18
1.5.3 Development trend of science and technology of China's petroleum & gas industry within the next few years 19
1.6 Effect of development of petroleum industry on environment 20
1.6.1 Effect of petroleum & gas exploitation on environment 20
1.6.1.1 Main contamination coming into being from petroleum & gas exploitation constitution 20
1.6.1.2 Characteristic of contamination from oil and gas field 21
1.6.2 Present situation of environmental protection in petroleum & gas production 22
1.6.3 Main problems and preventive countermeasures concerning bringing pollution under control in oil and gas fields 23
1.6.3.1 Main problems concerning preventing and harnessing pollution 23
1.6.3.2 Main factors leading to the environmental protection problem of petroleum enterprises 23
1.7 International development situation of petroleum industry 24
2. Movement of petroleum exploration and exploitation in 2004 26
2.1 Petroleum reserves in the world 26
2.2 Newly-increased petroleum and gas reserves in China in 2004 26
3. Overview of operation of petroleum industry in 2004 28
3.1 General situation of the world's petroleum production in 2004 28
3.2 Overview of China's crude oil production 29
3.2.1 China's output of crude oil 29
3.2.2 China's output of crude oil by province and city 30
3.2.3 Output of main enterprises 31
3.2.4 Output of crude oil in main oil and gas fields 32
3.3 Analysis of petroleum demand in China in 2006 33
3.3.1 Apparent consumption of petroleum in China 33
3.3.2 Consumption structure of oil products in China 34
3.3.3 Relationship of the increase movement in petroleum demand and economic increase in China 35
3.3.4 Main reasons for large increase in petroleum demand in China in
2006 35
3.3.4.1 Economic increase and adjustment of economic structure
3.4 Characteristics of China's crude oil imports and exports in
2006 39
3.4.1 Volume and average price of imported crude oil into China 39
3.4.2 Countries from which crude oil are to be imported into China and share of importation 39
3.4.3 Analysis of crude oil importing enterprises in China 42
3.4.4 Analysis of exports of China's crude oil 43
3.5 Price of crude oil 43
3.6 Main economic indicators of China's inartificial crude oil and gas exploiting industry in
2006 45
4. Production and market analysis of refined oil in 2006 50
4.1 Processing capacity and processing throughput of crude oil in China 50
4.1.1 Processing throughput of China's crude oil 50
4.1.2 Processing throughput of crude oil of main Chinese enterprises 50
4.2 Production of refined oil 52
4.2.1 Output of main refined oil (gasoline, kerosene, diesel oil, lube, fuel oil)in China 52
4.2.2 Output of refined oil of main enterprises 59
4.3 Price of refined oil 60
4.4 Analysis of demand of refined oil 62
4.4.1 Amplitude of refined oil demand in China far exceeds that in 2003 62
4.4.2 Increasing rate of refined oil consumption takes on trend of decline by season 62
4.4.3 Refined oil stock is under low-status operation, and there is tension in refined oil market 62
4.4.4 The proportion of consumption of diesel oil and that of gasoline is on the rise, and diesel oil production is hard to meet the demand 63
4.5 Analysis of imports and exports of refined oil 63
5. Overview of operation of petrochemical industry in 2006 68
5.1 Analysis of world's petrochemical industry in 2006 68
5.1.1 Output 68
5.1.2 Demand 70
5.1.3 Enterprises 70
5.2 Overview of operation of China's petrochemical industry in
2006 71
5.2.1 Output and production capacity of main petrochemical products 71
5.2.2 Price of main chemical products 72
5.2.3 Investment situation of refining and chemical industry 74
5.2.4 Analysis of imports and exports of petrochemical products 76
5.2.5 Biological-quality industry springs up gradually 77
5.3 Main indicators of China's crude oil processing and oil products manufacturing industry in
2006 78
6. Analysis of main policies and codes in 2006 80
6.1 State Development and Reform Committee has regulated price of oil products for three times 80
6.2 Temporary Method for Management of Refined Oil Market has been released 80
6.3 Quotas of importing refined oil through state-run trade has been abolished 80
6.4 State Development and Reform Committee has released Special Plan for the Medium and Long-term Energy Conservation 81
Tables
Table 1 Crude oil production in world's various regions and countries in
2006 29
Table 2 China's output of inartificial crude oil from January
2006 to 2006 30
Table 3 Output of China's crude oil (by province and city) in
2006 30
Table 4 Output of crude oil, output of gas and processing throughput of crude oil of China National Petroleum and China Petrochemical Corp. from January 2004 to December
2006 31
Table 5 Output of crude oil, output of gas and processing throughput of crude oil of China National Petroleum and China Petrochemical Corp. from January 2005 to
2006 (unit: 10 thousand tons, 0.1 billion stere) 31
Table 6 Output of crude oil in China's various oil and gas fields from 1999 to
2006 (unit: 10 thousand tons)32
Table 7 Supply and demand balance of crude oil and main oil products in China in
2006 33
Table 8. Apparent consumption of petroleum in China from 1999 to
2006 34
Table 9 Comparison of increasing rates of apparent consumption of crude oil and main oil products in
2006 35
Table 10 Increase movement of oil demand in 2006 35
Table 11 Statistics of origin regions from which China imports crude oil in
2006 40
Table 12 Statistics of OPEC countries from which China imports crude oil in
2006 40
Table 13 Statistics of China's crude oil importation by country and region in
2006 41
Table 14 Statistics of crude oil exports by country and region in
2006 43
Table 15 Monthly average price table (Platts merchandise on hand) of crude oil in international markets from January 2004 to
2006 44
Table 16 Numbers of enterprises and units, numbers of loss making enterprises, total output of industry, and average number of employees in China's inartificial crude oil and gas exploitation industry from January 2004 to
Dec in 2006 45
Table 17 Total assets, total liabilities, average balance of circulating funds, and average balance of net value of fixed assets of China's inartificial crude oil and gas exploitation industry from January 2004 to
Dec in 2006 46
Table 18 Sales revenue, cost of sales, selling expenses, total profits, and total taxes of China's inartificial crude oil and gas exploitation industry from January 2004 to
Dec in 2006 46
Table 19 Capital maintenance and appreciation rate, liability/asset ratio, turnover frequency of mobile assets, best level of turnover frequency of mobile assets, sales per capita, best level of sales per capita of China's inartificial crude oil and gas exploitation industry from January 2004 to February 2005 48
Table 20 Processing throughput of crude oil in China from January 2004 to
Dec in 2006 50
Table 21 Processing throughput of inartificial crude oil of China and the 40 main enterprises from January 2005 to
Dec in 2006 51
Table 22 Output of gasoline in China from January 2004 to
Dec in 2006 (unit: 10 thousand tons) 52
Table 23 Output of kerosene in China from January 2004 to
Dec in 2006 (unit: 10 thousand tons) 53
Table 24 Output of diesel oil in China from January 2004 to
Dec in 2006 (unit: 10 thousand tons) 54
Table 25 Output of lube in China from January 2004 to Dec in
2006 (unit: 10 thousand tons) 55
Table 26 Output of fuel oil in China from January 2004 to
Dec in 2006 (unit: 10 thousand tons) 56
Table 27 Output of petroleum asphaltum in China from January 2004 to
Dec in 2006 (unit: 10 thousand tons) 57
Table 28 Output of liquefied petroleum gas in China from January 2004 to
Dec in 2006 (unit: 10 thousand tons) 58
Table 29 Output of refined oil of China National Petroleum and China Petrochemical Corp. from January 2004 to December 2004 (unit: 10 thousand tons, 0.1 billion stere) 59
Table 30 Output of refined oil of China National Petroleum and China Petrochemical Corp. from January 2005 to May 2005 (unit: 10 thousand tons, 0.1 billion stere)60
Table 31 Monthly average price table of refined oil in international markets from January 2004 to
Dec in 2006 61
Table 32 Countries from which China imports and exports fuel oil from 1990 to 2004 64
Table 33 Statistics of refined oil exports by merchandise in 2004 66
Table 34 Statistics of refined oil imports by merchandise in 2004 67
Table 35 Distribution of production capacity of ethylene in the world in 2004 68
Table 36 Numbers of enterprises and units, numbers of loss making enterprises, total output of industry, and average number of employees in China's crude oil processing and oil products manufacturing industry from May 2004 to
Dec in 2006 78
Table 37 Total assets, total liabilities, average balance of circulating funds, and average balance of net value of fixed assets of China's crude oil processing and oil products manufacturing industry from January 2004 to
Dec in 2006 78
Table 38 Sales revenue, cost of sales, selling expenses, total profits, and total taxes of China's
crude oil processing and oil products manufacturing industry
from January 2004 to Dec in 2006
79
Table 39 Capital maintenance and appreciation rate, liability/asset ratio, turnover frequency of mobile assets, best level of turnover frequency of mobile assets, sales per capita, best level of sales per capita of China's crude oil processing and oil products manufacturing industry from January 2004 to
Dec in 2006 79
Figures
Figure 1 Comparison figure of total letting volume of industrial waste water in various industries and letting volume of enterprises and units 21
Figure 2 Comparison figure of total letting volume of industrial exhaust gas in various industries and letting volume of enterprises and units 21
Figure 3 Supply structure of fuel oil in China from 1990 to 2004 66
Figure 4 Output, consumption, and dependence to import of ethylene in China from 1995 to 2004 72
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