2022-03-30 10:10:00
SINOPEC'S GAS PRODUCTION UP
ENERDATA - 29 Mar 2022 - China's largest refining group Sinopec has released its 2021 results, posting a 114% growth in profit in 2021 to over CNY71bn (US$11bn). Sinopec's crude oil production almost reached 280 mbl in 2021 (39 Mt, -0.2% on 2020), including 250 mbl in China (stable) and 30 mbl overseas (-1.8%). Its gas production rose by nearly 12% to 1,199 bcf (34 bcm). Sinopec processed 255 Mt of crude oil (+7.8%), producing 146 Mt of gasoline, diesel and kerosene (+3.3%), including over 65 Mt of gasoline (+12.6%) and nearly 60 Mt of diesel (-5.3%). The group sold 221 Mt of refined oil in 2021 (+1.3%), including 171 Mt of domestic refined products (+2%). The group operated over 30,700 service stations in China at the end of 2021.
The group plans to raise its investments by 18% in 2022 to CNY 198bn (US$31bn), including CNY 81.5bn (US$12.8bn) in upstream operations (focusing on the Shunbei and Tahe crude oil fields and on the Sichuan and Inner Mongolia gas fields). Sinopec has suspended talks for a gas marketing venture and a major petrochemical investment in Russia.
-----
Earlier:
2022, February, 15, 14:05:00
CHINA'S ENERGY EFFICIENCY UP
NDRC in the Feb. 11 guidance focused on energy saving and decarbonization of energy-intensive industries including steel, ferroalloy and nonferrous metals sector.
2022, January, 31, 12:25:00
CHINA POWER TRADING SYSTEM
China aims at establishing a national trading system by 2030, which would include all renewable power producers.
2022, January, 26, 12:25:00
CHINA'S ENERGY INTENSITY REDUCTION
China intends to reduce its energy intensity (i.e. energy consumption per unit of gross domestic product) in 2025 by 13.5% compared with the 2020 level,
2022, January, 21, 11:10:00
CHINA LPG IMPORTS DOWN
Propane imports fell 11.5% month on month to 1.46 million mt in December, which was partially offset by butane imports rising 9.6% over the same period to 416,006 mt,
2022, January, 18, 13:00:00
CHINA OIL IMPORTS DOWN BY 5%
In 2021, China imported 513 Mt of crude oil (-5.4% compared to 2020), 27 Mt of refined products (-4%), 323 Mt of coal and lignite (+6.6%) and 121 Mt of natural gas (+19.9%),
2022, January, 14, 12:00:00
CHINA OIL IMPORTS RISE TO 10.9 MBD
The country's total crude imports averaged 10.3 million b/d in 2021, falling 5.4% year on year amid destocking activities.
2022, January, 12, 10:20:00
CHINA GAS DEMAND WILL UP
National oil company Sinopec expects Chinese natural gas demand to reach 395 Bcm in 2022, up 7% from an estimated 370 Bcm in 2021, according to its research arm, Sinopec Economics & Development Research Institute.
