Aarkstore Enterprise Market Research Report On Chinese Processed Oil Industry, 2009

In 2008, the processing quantity of Chinese crude oil was 340 million tons

. The outputs of Chinese processed oil were 206 million tons and its consumption was 209 million tons.

From 2005 to 2007, the consumption of Chinese processed oil (gasoline, kerosene and diesel oil) basically remained a steady annual growth rate of 6%. From January to August of 2008, the consumption of Chinese crude oil reached 140 million tons, rising by 15.8% over the same period. Particularly, the growth rates of processed oil consumption in June, July and August remained above 18%. After September, the growth rate of Chinese processed oil consumption began to fall down sharply. The growth rates in September and October reduced to 10% and 1.8% separately over the same periods. The growth rates of November and December declined continuously, decreasing by 9.2% and 6.1% separately over the same periods. In 2008, the entire growth rate of Chinese processed oil consumption showed high rises in the first eight months and low rises in the latter months. The consumption of processed oil in the whole year of 2008 was 209 million tons, rising by 10% over the same period. The consumption of gasoline and diesel oil was 196 million tons, rising by 11% over the same period.

By analyzing the changes of the growth rates of Chinese gasoline and diesel oil consumption since August of 2008, the consumption of diesel oil fluctuated greatly and it fell rapidly. The consumption of the diesel oil declined both in November and December, decreasing by 15% and 10% separately over the same period. The consumption of gasoline fluctuated narrowly. The growth rate over the same period decreased from 12% in August to 4% in December.

From 2005 to 2007, the annual growth rates of the processing quantity of Chinese domestic crude oil and the outputs of the processed oil were 6.2% and 6% separately, almost the same with the growth rates of consumption. But there was a tight balance between supply and demand in Chinese domestic processed oil market because China hadnft constructed and operated new and large-scale crude oil processing capacities in recent years. Since August of 2007, the consumption of domestic processing oil grew rapidly and the tight balance in the previous years was broken. Besides, the domestic oil price dropped far away from the international oil price and those local small refining factories had to reduce their production and even stop the production. The supply in the processed oil market couldnft meet the demand. From January to August in 2008, the outputs of Chinese processed oil were 138 million tons, rising by 6.7% over the same period. This was much lower than 15.8% of the consumption growth rate over the same period.

After the oil refining capacity of 10 million tons/year in Sinopec Qingdao Refining and Chemical Co., Ltd was constructed and put into operation in June of 2008 and the added complete and comprehensive capacity of oil refining with 10 million tons/ year in Dalian Petrochemical Cooperation was also constructed and put into operation in August of 2008, Chinese crude oil processing capacity was enhanced significantly. Additionally, the international crude oil price fell down greatly since July of 2008 and the gap between the prices of crude oil in domestic and in the world was narrowed down, the domestic price was even higher than the international price. This greatly stimulated the production enthusiasm of the refining and chemical enterprises. Those local oil refining factories which reduced and stopped production began to increase their outputs. In 2008, the aggregate outputs of Chinese domestic processed oil reached 35.9 million tons, rising by 11.6% over the same period of the last year. This was much higher than 6% of the consumption growth rate over the same period and as a result the market had a large surplus of resources and it had to balance supply and demand by increasing export volumes and decreasing import volumes. Since November, the two petrol groups began to reduce greatly the processing quantity of crude oil and the quantity in November increased only by 4.4% over the same period. The outputs of the crude oil were decreased by 9% over the same period.

For more information please contact :

http://www.aarkstore.com/reports/Market-Research-Report-on-Chinese-Processed-Oil-Industry-2009-25644.html

http://blogs.aarkstore.com/

From:Aarkstore Enterprise

Contact: Neel

Email: press@aarkstore.com

URL: www.aarkstore.com

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