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News Releases cnpc.cn
CNPC is engaged in hydrocarbon exploration and production operations in onshore and offshore areas in and is authorized to cooperate with foreign oil companies to jointly explore and
China's growth in demand for oil is apparently not terribly price-sensitive (Zhao and Wu, 2007), and when one accounts for urban migration and the concomitant rise in transport demand, it becomes apparent that there will be continued growth in Chinese oil demand (Skeer and Wang, 2007). 2 Major expansions in petroleum refining will be required
- What is Argus China Petroleum?
- The Argus China Petroleum service offers in-depth monthly coverage of oil markets in China, the world’s largest net importer of crude. The service provides a data-rich, web-delivered product boasting over 30 datasets, including unique Argus surveys, as well as daily prices, news and analysis, and fundamental data via the China Oil Workspace.
- Where does China buy crude oil?
- China’s refiners purchase crude oil from dozens of countries, with Russia, Saudi Arabia, Iraq, Oman, and Malaysia being the largest sources. Imports from Malaysia increased significantly last year to 1.4 million b/d, which is more than Malaysia’s domestic crude oil production of around 0.6 million b/d.
- How many oil refineries are there in China?
- The country has one oil refinery, located at Chittagong, with a capacity of 33,000 barrels per day. In 1991 Chinese consultants confirmed the existence of 300 million tons of good quality coal at the Boropukuria coal field in northern Diajpur District.
- Why did China's Crude oil imports and refineries decrease in 2023?
- Both crude oil imports and refinery runs decreased in China from record levels in 2023, when the country imported 11.3 million b/d of crude oil and processed 14.8 million b/d. Net decreases in the consumption of transportation fuel (gasoline, diesel, and jet fuel) last year meant China’s refineries processed less crude oil.
- Will China become the world's largest oil refiner?
- It is increasingly clear that China will become the world’s largest oil refiner, with a total capacity of about 905 million tons per year or 18.4 million barrels per day, according to the latest U.S Energy Information Administration data.
- Which oil companies dominate the oil refinery sector of China?
- Two national oil companies Sinopec and CNPC/PetroChina dominate the oil refinery sector of China. Sinopec with a refinery capacity of 5Mbd accounts for more than 45% of the country’s refinery capacity, while CNPC/PetroChina accounts for about 31% of the country’s refinery capacity.
