RUS | ENG | All
Enter the email or login, that you used for registration.
If you do not remember your password, simply leave this field blank and you will receive a new, along with a link to activate.

Not registered yet?
Welcome!

2014-04-02 08:02:00

CHINA GROWTH 3,1%

CHINA GROWTH 3,1%

YOGN. China's apparent oil demand in February rose 3.1% year over year to an average 10.62 million barrels per day (b/d) or 40.56 million metric tons (mt), according to a Platts analysis of China's latest government data.

This followed a relatively large year-over-year contraction of 6.4% in January, when apparent oil demand averaged 9.48 million b/d.

The growth in apparent oil demand in February was evidenced by record high refinery runs. As reported by China's National Bureau of Statistics on March 19, crude oil processed by refineries in February rose 5.3% year over year to 10.52 million b/d, while net oil product imports slumped 66.9% from a year earlier to 390,000 mt.

In January, net oil products expanded by more than 1% year over year to 1.5 million mt, while refinery throughput fell by 6.7% to 9.13 million b/d, the lowest level since August 2012.

However, analysts told Platts that the disparity between apparent oil demand in January and February could be due to reporting and accounting issues with Chinese data.

China's average apparent oil demand during the first two months of 2014 fell 1.9% year over year to 10.03 million b/d. The figure was dragged down in part by refinery runs, which were down 1% on a year-over-year basis. Net oil product imports slid 28.5% to 1.91 million mt.

"China's oil demand is off to a slow start this year, on the back of slowing growth in industrial production and exports," said Song Yen Ling, Platts senior writer for China. Industrial production for the first two months of this year was up 8.6% from the same period a year ago.

Industrial production was up 9.7% and 10%, respectively in December and November of 2013.

Apparent demand for gasoil – which is the largest among oil products in China – averaged 3.42 million b/d during the January-February period. This is down 2.9% from a year ago and on the heels of the 2013 annual contraction of 0.6%.

The share of gasoil as a percentage of total apparent demand was 33.5% during the January-February period. This is down from 33.9% for the same period a year ago.

In contrast, gasoline apparent demand rose 4.9% to 2.39 million b/d in the first two months of this year, accounting for 20.6% of total apparent demand. This compares with a gasoline share of 19.2% in January-February last year. The fuel has benefited from booming car sales in China.

Meanwhile, China's apparent demand for fuel oil this year through February tumbled 8% to 699 million b/d, mainly due to weaker demand from China's small, independent refiners known as "teapot" refineries, which typically use imported fuel oil as feedstock.

Tags: CHINA, OIL
Chronicle:
CHINA GROWTH 3,1%
2022, October, 6, 13:04:00
2022 SAUDI PIPELINES INTERNATIONAL CONFERENCE & EXIBITIONS
Eventat Co (a Saudi local company) is hosting the first-ever “2022 Saudi Pipelines International Conference & Exhibitions” from 4-6 October, 2022 at the Dhahran Expo, Dammam (Eastern Province), Kingdom of Saudi Arabia. The three-day conference and exhibition are dedicated to bringing together over “50+ Regional/International speakers, 100+ Sponsors/Exhibitors, 1000+ Delegates and 3000+ Visitors” from around the globe who carry significant interest in enhancing the pipelines lifecycle for the current and future.
CHINA GROWTH 3,1%
2022, October, 6, 13:03:00
INTERNATIONAL CONGRESS AND EXIBITION TURKEY & BLACK SEA OIL AND GAS
International Congress and Exhibition Turkey & Black Sea Oil and Gas is an international, professional platform, bringing together over 200 C-suite executives from vertically integrated oil companies, general directors, CTOs of oil refineries, gas processing plants and petrochemical facilities, initiators of investment projects on oil and gas extraction from Turkey and countries of the Black Sea area, officials of regulatory authorities, licensors of production technologies and world suppliers for the industry.
CHINA GROWTH 3,1%
2022, October, 6, 13:02:00
TRANSPORTATION OIL AND GAS CONGRASS 2023 (TOGC 2023)
Transportation Oil and Gas Congress 2023 (TOGC 2023) takes place on February 20-21, 2023. The Congress brings together representatives from the whole pipeline chain and focuses on both strategic and technical issues of the oil and gas pipeline transportation.
CHINA GROWTH 3,1%
2022, October, 6, 13:01:00
Pipelines In A Sustainable Future And Other Highlights Of TOGC 2023(TOGC 2023)
Transportation Oil and Gas Congress (TOGC) is held on February, 20-21, 2023, Istanbul, Türkiye. During 2 days of intensive networking participants get direct access to the whole pipeline chain. Among the highlights of the program are Panels, show type sessions based on discussion between panelists. They discuss the role of pipelines in a sustainable future, digital transformation and optimization of the pipeline industry, pipeline economics and pipeline integrity, H2 in Gas Grid.
CHINA GROWTH 3,1%
2022, October, 6, 13:00:00
RUSSIAN NUCLEAR FOR BRAZIL
Russia and Brazil already have ties in the nuclear energy field with an MoU signed in 2017 by Rosatom and Brazil’s Electrobras and Electonuclear to promote cooperation in nuclear power.
CHINA GROWTH 3,1%
2022, October, 6, 12:59:00
9TH INTERNATIONAL LNG CONGRESS LNGCON 2023
9th International LNG Congress (LNGCON 2023) 6-7 March, 2023 Link to the Congress website: https://bit.ly/3tXVmr7
CHINA GROWTH 3,1%
2022, October, 6, 12:58:00
DISCUSSING LNG MARKET TRENDS AT LNGCON 2023
The closed-door International LNG Congress 2023 assembles top-level management and technical representatives of the LNG industry to discuss prevailing questions and present innovative solutions in Dusseldorf, Germany on March, 6-7, 2023.
All Publications »