China Oil and Gas Report

 Published On: May, 2016 |    No of Pages: 128 |  Published By: BMI Oil and Gas | Format: PDF
Request Free Sample

BMI View: China's long-term crude oil and liquids output will remain on a firm downtrend as low oil prices slowdown exploration and render certain high-cost mature and unconventional plays uneconomic. Outlook is more positive for natural gas, as the government seeks to increase the share of gas in the total energy mix. This will prompt domestic firms to ramp-up gas output accordingly, ensuring that growth remains robust over the short-to-medium term. Crude demand will remain strong, driven by continued stockpiling activity, greater teapot imports and robust domestic demand for gasoline, jet fuel/kerosene and petrochemical feedstock, which will drive elevated run rates at existing refineries.

Latest Updates And Key Forecasts
■ China's crude oil and liquids output will fall by 12.0% between 2016 and 2025, as sustained oil price weakness prompt the country's largest oil producers to pare back upstream investment and disengage from high-cost production activities.
■ An ambitious gas production target is expected to lead a 5.0% increase in gas output over 2016, as domestic firms ramp-up production activities accordingly.
■ China is set to add about 1.6mn b/d of new refining capacity over the next five years, though heavy underutilisation of existing capacity indicates substantial scope for downsizing.
■ Following a substantial cut to wholesale gas prices for non-residential users back in November 2015, the government is mulling another price reform, this time establishing a single wholesale price for all users at non-residential levels. This will bring domestic prices more in line with market rates, and help to stimulate greater demand from the industrial and power sector consumers.
■ Crude imports will remain strong as continued stockpiling activities, refining capacity additions, awarding of import licenses to the teapot refineries and strong domestic demand for gasoline keep China's appetite for imports elevated.

BMI Industry View . 9
Table: Headline Forecasts (China 2014-2020)     . . . . 9
Latest Updates And Key Forecasts  9
SWOT  11
Oil & Gas SWOT ... 11
Industry Forecast  12
China - 13th Five Year Plan: NPC Sets Stage For Deeper Energy Sector Reforms ....... 12
Upstream Exploration ...... 15
Latest Updates ..... 15
Structural Trends . 15
Table: Key Offshore JVs         . . 16
Table: Recoverable Shale Gas Estimates In China    . . . . . 18
Table: Major IOC Involvement In China's Shale Gas Exploration  19
Table: Proven Oil and Gas Reserves (China 2014-2019)   . . . . 21
Table: Proven Oil and Gas Reserves (China 2020-2025)   . . . . 22
Upstream Projects . 23
Table: China - Key Upstream Projects      . . . . . 23
Upstream Production - Oil  34
Latest Updates ..... 34
Structural Trends . 34
Risks To Outlook .. 36
Table: Oil Production (China 2014-2019)      . 37
Table: Oil Production (China 2020-2025)      . 37
Upstream Production - Gas ......... 38
Latest Updates ..... 38
Structural Trends . 38
Growth Sources ... 40
Risks To Outlook .. 41
Table: Gas Production (China 2014-2019)      . 41
Table: Gas Production (China 2020-2025)      . 42
Refining ..... 43
Latest Updates ..... 43
Structural Trends . 43
Table: Refining Capacity and Refined Products Production (China 2014-2019)            . . . . 45
Table: Refining Capacity and Refined Products Production (China 2020-2025)            . . . . 45
Refined Fuels Consumption ......... 46
Latest Updates ..... 46
Structural Trends . 46
Table: Refined Products Consumption (2014-2019)    . . . 49
Table: Refined Products Consumption* (China 2020-2025)   . 49
Gas Consumption .. 50
Latest Updates ..... 50
Structural Trends . 50
Table: Gas Consumption (China 2014-2019)     . . . . 52
Table: Gas Consumption (China 2020-2025)     . . . . 53
Trade - Oil . 54
Crude Oil Trade Forecasts ........ 54
Latest Updates ..... 54
Structural Trends . 54
Crude Oil Trade Partners  56
Table: Crude Oil Net Exports (China 2014-2019)    . . . . . 56
Table: Crude Oil Net Exports (China 2020-2025)    . . . . . 57
Fuels Trade Forecasts .... 57
Latest Updates ..... 57
Structural Trends . 57
Fuels Trade Partners ...... 59
Table: Refined Fuels Net Exports (China 2014-2019)    . 60
Table: Refined Fuels Net Exports (China 2020-2025)    . 60
Trade - Gas (Pipeline And LNG) .. 61
Latest Updates ..... 61
Structural Trends . 61
Table: Gas Net Exports (China 2014-2019)      63
Table: Gas Net Exports (China 2020-2025)      64
Industry Risk Reward Index ... 65
Table: Asia's Oil & Gas Risk/Reward Index      66
Upstream Risk/Reward Index: Production Cuts Reinforce Bearish Outlook ..... 67
Table: Asia: Upstream Risk/Reward Index      . 68
Downstream Risk/Reward Index: Refinery Developments Lift Scores For Malaysia And The Philippines ...... 69
Table: Asia: Downstream Risk/Reward Index     . . . . 70
China - Risk/Reward Index  71
Upstream Index - Overview ...... 71
Upstream Index - Rewards ....... 71
Upstream Index - Risks .. 71
Downstream Index - Overview .... 72
Market Overview . 73
China Energy Market Overview ... 73
Regulatory Structure ....... 73
Fiscal Regime ...... 75
Table: Key Fiscal Indicators        . . . . 75
Table: Offshore Production Royalty Structure     . . . 76
Table: China: Tiered Gas Pricing For Residential Users   . . . . 77
Table: Shanghai: Tiered Gas Pricing System For Residential Users . . . . 77
Licensing Regime . 78
Table: 2014 Offshore Blocks Open To Foreign Participation   78
Table: Winners Of Second Shale Gas Licensing Round    79
Oil And Gas Infrastructure  82
Oil Refineries ...... 82
Table: Oil Refineries In China        . . 82
Table: Commercial Crude Oil Storage Terminals In China   . . 85
Crude Oil Pipelines ........ 86
Table: Major Oil Pipelines In China       . 86
LNG Terminals .... 87
Table: LNG Terminals In China        87
Gas Storage Terminals .... 89
Gas Pipelines ...... 89
Table: Major Gas Pipelines in China       . 89
Coal-To-Gas Plants ........ 90
Table: Planned CTG Plants        . . . . 90
Coal-To-Gas Pipelines .... 90
Table: Planned CTG Pipelines        . 90
Competitive Landscape  91
Competitive Landscape Summary  91
Table: Key Upstream Players        . . 92
Table: Key Downstream Players       . . . . . 92
Company Profile .. 93
CNOOC ..... 93
Latest Updates ..... 93
Table: Major Producing Areas        . 95
Table: Key Financial Data (USDbn)       . 95
Operational Data . 95
CNPC ....... 96
Latest Updates ..... 96
Table: Major Upstream Assets        . . 97
Table: Key Financial Data (USDbn)       . 98
Operational Data . 98
Sinopec ...... 99
Latest Updates ..... 99
Table: Major Upstream Assets        . 100
Table: Key Financial Data (USDbn)       101
Appendix .. 102
13th Five-Year Plan: Key Points  102
Summary Of Contents ... 102
Chapter 1: Overview ..... 103
Table: Targets           103
Chapter 2: Innovation To Drive Development .. 104
Chapter 3: Economic Institutions ........ 105
Chapter 4: Modernisation Of The Agricultural Sector . 106
Chapter 5: Industries .... 107
Chapter 6: Expand The Network Economy ...... 108
Chapter 7: Build A Modern Infrastructure Network .... 108
Chapter 8: New-Type Urbanisation ..... 109
Chapter 9: Coordination Of Regional Development .... 110
Chapter 10: Environmental Protection . 111
Chapter 11: Continue Opening Up ...... 111
Others: .. 111
Regional Overview ...... 113
Asia Regional Overview .. 113
Glossary ... 121
Table: Glossary Of Terms        . . . . . 121
Methodology ...... 123
Industry Forecast Methodology  123
Source ... 125
Risk/Reward Index Methodology ......... 125
Table: Bmi's Oil & Gas Upstream Risk/Reward Index    127
Table: Weighting   . . 128 
If the above report does not have the information suitable for your business, we can provide custom research that can be lucrative for your business or enhance your profession.