Market Trends of China Oil and Gas Downstream Industry
This section covers the major market trends shaping the China Oil & Gas Downstream Market according to our research experts:
Refinery Capacity Expansion is Expected to Drive the Market
- As of 2019, China has a total of 179 active crude oil refineries and around 12 planned and announced refineries are expected to commence operations by 2030.
- Energy Demand Model provides a view of individual fuel demand growth within different demand sectors, in a country.
- Strategy and planning support including fully integrated long-term scenarios with detailed supply, demand & pricing projections.
- Digital technologies are already reducing refining costs and process losses, but the modernization of the sector is moving from a strategic choice to an imperative.
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Increasing Demand for Petroleum Products
- Petroleum products include gasoline, diesel fuel, jet fuel, unfinished oils, and other liquids such as fuel ethanol, blending components for gasoline, and other refinery inputs.
- China's crude oil imports in September 2019, rose 10.8% from a year earlier as refiners ramped up output amid stable profit margins and solid fuel demand.
- In 2020, China's net exports of gasoline are expected to average 375,000 b/d in the fourth quarter, up from an average of 330,000 b/d over the first three quarters
- Therefore, factors such as increasing demand for petroleum products and the improvement in downstream infrastructure are expected to drive the downstream market.
