Highlights
In 2020, China's oil refining industry was going through a tough time due to COVID-19 and the long-term imbalance between supply and demand. In Q1, hot events occurred frequently. For example, the international crude benchmarks dropped to be negative for the first time in the history. The operating rates at refineries plunged. Travels were restricted, and demand for refined oil slumped. Inventories stayed at high levels. As China’s pandemic was under control gradually, the resumption of production was accelerated, policies of ensuring the steady growth were implemented, and the demand for refined oil recovered. However, the refining capacity continued increasing, and oversupply was severe at both structural and regional levels. Meanwhile, the growth in demand was dampened by the severe weather. Therefore, "destocking" has now become the task with priority. In the future, China's oil refining industry will become more diversified amid fierce competition.
In 2021, refining projects including Shandong Yulong Petrochemical, Zhejiang Petroleum & Chemical (Phase II) and Shenghong Petrochemical will be put into operation, which will increase China’s refining capacity greatly. It’s estimated that China’s refining capacity will exceed 1 billion mt/a in 2021. The development of petroleum industry is facing challenges and opportunities at the same time. As a critical industry supporting the national economy, the high-end petrochemical industry is faced with several issues. For example, its development is lagging behind, and some products suffer from high import dependence degree. Thus, the transformation and upgrading as well as structural optimization of petrochemical industry are the opportunities for future development.
2020-2021 China Oil Refining Industry Annual Report covers a sample size of 141 refineries with a total CDU capacity of 908.33 million mt/a, taking up 95% of the total CDU capacity of all refineries. Therefore, the data can reflect the supply in China’s oil refining market.
The features of “big data”, “supply-demand”, “refining techniques” are the key focuses during the creation of 2020-2021 China Oil Refining Industry Annual Report. Meanwhile, more than 200 charts and tables of refining data visually present SCI’s comprehensive understanding of oil refining industry’s development in 2020, with concise words to briefly analyze annual highlights and trends of this industry.
SCI strictly follows the principle of first-hand data collection. Raw data is obtained through research, visits, consultation and other methods, and transferred into exclusive data, which integrates authoritative data issued by the National Development and Reform Commission, the National Bureau of Statistics, the Ministry of Commerce, the General Administration of Customs and other national ministries. At the same time, researches are conducted with the support from the production, procurement and sales departments of large domestic refineries, traders and terminal enterprises. Meanwhile, SCI conducts multi-aspect data collection, comprehensive analysis and interpretation of China's oil refining industry in 2020 from different dimensions and perspectives, providing industry professionals with real and effective data resources.
Report value:
1. 141 refineries (each with CDU capacity of more than 2 million mt/a) are selected as samples in this report to show the most real status and future trends of China’s oil refining industry. Thus, the clients will have a direct and comprehensive understanding of China’s oil refining industry.
2. This report uses the data model to simulate the changes in China's oil refining industry and market, and makes a comprehensive evaluation of each product in 2020 through rigorous logical thinking.
3. This report interprets the current situations and trends of China’s oil refining industry development through the data analysis of the industry
4. Newly added China's gasoline and diesel commercial social inventory and analysis of changes in China's actual gasoline and diesel consumption.
5. The report is written following the logic of "production, consumption and inventory", which is in accordance with the thinking of customers when they are doing market researches.
6. Covering 13 types of oil refining products, this report assists you to understand the changes in the entire oil refining market.
Contents
Part 1 China Oil Refining Industry Current Situation and Trend Analysis
1.1 Definition of China Oil Refining Industry
1.2 China Oil Refining Industry Chain
1.3 China Oil Refining Unit Categories
1.4 China Oil Refining Industry Current Situation
1.4.1 China Refining Capacity Glut
1.4.2 China Achievements Made in Scale Development of Refineries with Gaps from World Standard Level
1.4.3 A Decreasing Number of Refineries
1.4.4 Steadily Increasing Crude Oil Processing Volume
1.4.5 Prominent Characteristic of Clustered and Regional Distribution of Refineries
1.4.6 Development towards New Mode of Refining-Chemical Integration
1.5 Issues Confronting China Oil Refining Industry
1.5.1 National Energy Security and Crude Production Growth
1.5.2 Serious Oil Refining Overcapacity and Unit Structure Imbalance
1.5.3 Increasing Crude Oil Import Dependence Degree
1.5.4 Intensified Competition for State-Owned Refineries
1.5.5 Low Levels of Refining Scale and Integration
1.5.6 Capacity Imbalance between High-End Oil Products and Chemical Products
1.5.7 Stricter Environmental Protection and Limited Elimination of Backward Capacity
1.5.8 Issues Related to Refined Oil Export Quota
1.5.9 Intensified Inventory Pressure Caused by Internal and External Factors
1.5.10 Decreasing Growth Rate of Refined Oil Consumption and Intensified Export Competition
Part 2 Supply in China Oil Refining Industry
2.1 China Refineries Introduction
2.2 China Oil Refining Unit Introduction
2.3 China Oil Refining Unit Capacity Analysis
2.3.1 CDU Capacity Analysis and Statistics
2.3.2 Catalytic Reforming Unit Capacity Analysis and Statistics
2.3.3 FCC Unit Capacity Analysis and Statistics
2.3.4 Hydrocracking Unit Capacity Analysis and Statistics
2.3.5 Residual Oil Hydrogenation Unit Capacity Analysis and Statistics
2.3.6 Delayed Coking Unit Capacity Analysis and Statistics
2.3.7 Gasoline Hydrogenation Unit Capacity Analysis and Statistics
2.3.8 Diesel Hydrogenation Unit Capacity Analysis and Statistics
2.3.9 Kerosene Hydrogenation Unit Capacity Analysis and Statistics
2.3.10 Gas Separation Unit Capacity Analysis and Statistics
2.3.11 MTBE Unit Capacity Analysis and Statistics
2.3.12 Alkylation Unit Capacity Analysis and Statistics
2.4 China Oil Refining Unit Processing Volume Analysis
2.4.1 CDU Processing Volume Analysis
2.4.2 CCR Unit Processing Volume Analysis
2.4.3 FCC Unit Processing Volume Analysis
2.4.4 Hydrocracking Unit Processing Volume Analysis
2.4.5 Residual Oil Hydrogenation Unit Processing Volume Analysis
2.4.6 Delayed Coking Unit Processing Volume Analysis
2.4.7 Gas Separation Unit Processing Volume Analysis
2.4.8 MTBE Unit Processing Volume Analysis
2.4.9 Alkylation Unit Processing Volume Analysis
2.5 China Oil Refining Unit Operating Rate Analysis
2.5.1 CDU Operating Rate Analysis
2.5.2 Catalytic Reforming Unit Operating Rate Analysis
2.5.3 FCC Unit Operating Rate Analysis
2.5.4 Hydrocracking Unit Operating Rate Analysis
2.5.5 Residual Oil Hydrogenation Unit Operating Rate Analysis
2.5.6 Delayed Coking Unit Operating Rate Analysis
2.5.7 Gasoline, Diesel and Kerosene Hydrogenation Unit Operating Rate Analysis
2.5.8 Gas Separation Unit Operating Rate Analysis
2.5.9 MTBE Unit Operating Rate Analysis
2.5.10 Alkylation Unit Operating Rate Analysis
2.6 China Oil Refining Product Output Analysis
2.6.1 Crude Oil Output Statistic Analysis
2.6.2 Naphtha Output Statistic Analysis
2.6.3 Wax Oil Output Statistic Analysis
2.6.4 Residual Oil Output Statistic Analysis
2.6.5 Slurry Oil Output Statistic Analysis
2.6.6 Petroleum Coke Output Statistic Analysis
2.6.7 Gasoline Output Statistic Analysis
2.6.8 Diesel Output Statistic Analysis
2.6.9 Kerosene Output Statistic Analysis
2.6.10 Propane Output Statistic Analysis
2.6.11 MTBE Output Statistic Analysis
2.6.12 Alkylate Output Statistic Analysis
2.6.13 Bitumen Output Statistic Analysis
2.7 China Oil Refining Products Utilization and Trade Flow Analysis
2.7.1 Crude Oil Utilization and Trade Flow Analysis
2.7.2 Naphtha Utilization and Trade Flow Analysis
2.7.3 Fuel Oil Utilization and Trade Flow Analysis
2.7.4 Gasoline and Diesel Utilization and Trade Flow Analysis
2.7.5 Petroleum Coke Utilization and Trade Flow Analysis
2.7.6 LNG Utilization and Trade Flow Analysis
2.7.7 MTBE Utilization and Trade Flow Analysis
2.7.8 Alkylate (Isooctane) Utilization and Trade Flow Analysis
2.7.9 Bitumen Utilization and Trade Flow Analysis
2.8 China Oil Refining Product Import Data Statistics and Analysis
2.8.1 2016-2020 Crude Oil Import Data Analysis
2.8.2 2016-2020 Gasoline and Diesel Import Data Analysis
2.9 China Oil Refining Product Inventory Analysis
2.9.1 Shandong Port Crude Oil Inventory Change Analysis
2.9.2 Shandong Independent Refinery Gasoline and Diesel Inventory Change Analysis
2.9.3 China Social Gasoline Inventory Analysis
2.9.4 China Social Diesel Inventory Analysis
2.10 China Oil Refining Unit Profit Analysis
2.10.1 CDU Profit Analysis
2.10.2 FCC Unit Profit Analysis
2.10.3 Coking Unit Profit Analysis
2.10.4 Reforming Unit Profit Analysis
2.10.5 Hydrocracking Unit Profit Analysis
2.10.6 Alkylation Unit Profit Analysis
2.10.7 MTBE Unit Profit Analysis
2.10.8 Independent Refinery Complex Oil Refining Profit Analysis
2.11 2021 China Oil Refining Industry Supply Pattern Forecast
2.11.1 2021 China Oil Refining Industry Refining Capacity Statistics and Forecast
2.11.2 2021 China Oil Refining Industry Crude Oil Processing Volume Forecast
2.11.3 2021 China Oil Refining Product Output Forecast
2.11.4 2021 China Oil Refining Product Import Forecast
Part 3 China Oil Refining Industry Consumption Status
3.1 2020 China Oil Refining Product Consumption Analysis
3.1.1 2020 Crude Oil Consumption Analysis
3.1.2 2020 Naphtha Consumption Analysis
3.1.3 2020 Fuel Oil Consumption Analysis
3.1.4 2020 Petroleum Coke Consumption Analysis
3.1.5 2020 Refined Oil (Gasoline, Diesel and Kerosene) Consumption Analysis
3.1.6 2020 LPG Consumption Analysis
3.1.7 2020 MTBE Consumption Analysis
3.1.8 2020 Alkylate (Isooctane) Consumption Analysis
3.1.9 2020 Bitumen Consumption Analysis
3.2 China Oil Refining Product Export Data Statistics and Analysis
3.2.1 2018-2020 Gasoline and Diesel Export Data Analysis
Part 4 China Oil Refining Product Market Review and Forecast
4.1 Crude Oil Market
4.1.1 2020 Crude Oil Market Review and Forecast
4.1.2 2021 Crude Oil Market Risk Warning
4.2 Naphtha Market
4.2.1 2020 Naphtha Market Review
4.2.2 2021 Naphtha Market Risk Warning
4.3 Fuel Oil Market
4.3.1 2020 Fuel Oil Market Review
4.3.2 2021 Fuel Oil Market Risk Warning
4.4 Gasoline and Diesel Markets
4.4.1 2020 Gasoline and Diesel Markets Review
4.4.2 2021 Gasoline and Diesel Markets Risk Warning
4.5 Petroleum Coke Market
4.5.1 2020 Petroleum Coke Market Review
4.5.2 2021 Petroleum Coke Market Risk Warning
4.6 LPG Market
4.6.1 2020 LPG Market Review
4.6.2 2021 LPG Market Risk Warning
4.7 Bitumen Market
4.7.1 2020 Bitumen Market Review
4.7.2 2021 Bitumen Market Risk Warning
4.8 Alkylate (Isooctane) Market
4.8.1 2020 Alkylate Market Review
4.8.2 2021 Alkylate Market Risk Warning
4.9 MTBE Market
4.9.1 2020 MTBE Market Review
4.9.2 2021 MTBE Market Risk Warning
Part 5 China Refinery Supporting Facility Construction Analysis
5.1 China Oil Product Storage Status Analysis
5.1.1 National Strategic Reserve Statistics
5.1.2 Crude Oil Commercial Reserve Statistics
5.1.3 Refined Oil First Grade Oil Depot Statistics
5.1.4 Independent Refinery Crude Oil Reserve Statistics
5.2 Port Terminal Development Analysis
5.2.1 Terminal Distribution Around Bohai Sea
5.2.2 Terminal Distribution Along Yangtze River
5.2.3 Terminal Distribution in Pearl River Delta
5.3 Crude/Refined Oil Pipeline Distribution
5.4 Hazardous Chemicals Railway Transportation Development Analysis
5.5 Hazardous Chemicals Road Transportation Development Analysis
Part 6 2020 China Oil Refining Industry Policies and Highlights
Appendix 1 Methodology and Definitions
Appendix 2 Data Model Explanation
Appendix 3 Charts
Appendix 4 Tables
Appendix 5 Related Product Annual Report
2020-2021 China Refined Oil Market Annual Report
2020-2021 Global Crude Oil Market Annual Report