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The market is segmented by Sector (Upstream, Midstream, and Downstream)
Greater Than 1.5 %
The China oil and gas market is expected to grow at a CAGR of around 1.5% during the forecast period of 2020-2025. The primary factor that is expected to drive the oil and gas market is the growing demand for energy with the rising population, which is expected to get increase until 2035. However, the growing demand for renewable energy to reduce the rising carbon footprint is expected to hinder the market growth during the forecast period.
• Crude oil is a significant segment in the Chinese oil and gas market. It shares around 17% of the total energy mix in 2018 and stands second after coal.
• China targets to slash its growing dependence on gas imports by boosting domestic projects like shale fields as the security to its energy supply. It is expected that the government is funding new efforts to boost domestic production, particularly from so-called unconventional sources like shale gas. It is also estimated that China shale gas production to reach around 280 billion cubic meters (bcm) by 2035 from 10.9 bcm in 2018. Thus, with the Chinese government effort and its plan to boost its shale gas production is expected to create an opportunity in the coming years.
• With significant refining capacity and throughput in 2018, downstream sector is expected to drive the market during the forecast period.
The China oil and gas market report includes:
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• Downstream includes the refining sector of China, which had a refining capacity growth of around 3.28% and refinery throughput of around 5.26% during the last ten year (2009 – 2018). The major reason for the growth is the rising demand for petroleum products. In 2018, the demand for petroleum products increased to nearly 583 million tonnes (MT) from 550 MT in 2016.
• As of 2018, China has nearly 179 active crude oil refineries and is planning to include twelve more refineries by 2023. Jieyang Refinery is one of the upcoming refinery project, which is expected to have a refining capacity of around 400 million barrels per day (mbd), and is expected to get commissioned by 2021.
• It is expected that the demand for petroleum products would reach nearly 650 MT by 2025, with the transportation sector to have the highest demand of nearly 370 MT.
• Out of all petroleum products, road-gasoline is expected to have the highest demand of around 140 MT, followed by road-diesel of 90 MT. Thus, the rising demand for petroleum products in various sectors is likely to expand the downstream sector and thereby is expected to drive the China oil and gas market during the forecast period.
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The China oil and gas market is moderately consolidated. The key players in China National Petroleum Corp., China Petroleum & Chemical Corporation (Sinopec), China National Offshore Oil Corporation (CNOOC), Exxon Mobil Corporation, Chevron Corporation, BP Plc, and Royal Dutch Shell Plc. among others.
1.1 Scope of the Study
1.2 Market Definition
1.3 Study Assumptions
2. EXECUTIVE SUMMARY
3. RESEARCH METHODOLOGY
4. MARKET OVERVIEW
4.2 China Oil and Gas Market in USD billion, till 2025
4.3 China Oil and Gas Production Forecast, till 2025
4.4 China Oil and Gas Consumption Forecast, till 2025
4.5 Recent Trends and Developments
4.6 Government Policies and Regulations
4.7 Market Dynamics
4.8 Supply Chain Analysis
4.9 PESTLE Analysis
5. MARKET SEGMENTATION
184.108.40.206 Petrochemical Plants
6. COMPETITIVE LANDSCAPE
6.1 Mergers and Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Strategies Adopted by Leading Players
6.3 Company Profiles
6.3.1 China National Petroleum Corp.
6.3.2 China Petroleum & Chemical Corporation (Sinopec)
6.3.3 China National Offshore Oil Corporation (CNOOC)
6.3.4 Exxon Mobil Corporation
6.3.5 Chevron Corporation
6.3.6 BP Plc.
6.3.7 Royal Dutch Shell Plc.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability