This is a macro research on China's refinery feedstock market. There is no similar research so far.
In China, state-run refineries and teapot refineries both thrive, thus crude oil and straight-run fuel oil are both used as refinery feedstock. Competition between the two parties becomes more fierce. China has been boosting its dependence on foreign crude oil, with dependency rate on imported crude at historic high. The Chinese government is unlikely to deregulate its crude oil market in a short term. There are new changes in the trading chains of imported crude and straight-run fuel oil in the country.
Forecast of China's refinery feedstock demand trend and change in feedstock structure; outlook of China's refinery feedstock purchase chain……
Based on C1's survey and data, this report analyzes refinery feedstock supply and demand fundamentals in China, sketches their purchase chains, gives economics comparison among different feedstocks, and forecasts the future demand trend of refinery feedstocks.
Data of crude feedstocks for state-run refineries,data of straight-run fuel oil feedstocks for independent refineries, refining margins data for major/teapot refineries.
No similar products from domestic and overseas rivals yet. The only high-end research in this field.
This research enables the readers to get a deep and profound understanding on China's crude refining industry, and to get an overview of supply and demand of refinery feedstock in China.
Core Data
Data analysis of crude feedstock specification for over 40 state-run refineries above 100kbd's CDU capacity
Data of straight-run fuel oil feedstocks for independent refineries
Refining optimization and economics for Chinese major/teapot refineries
Ø Crude specification requirement and import crude sourcing for over 40 state-own refineries
Ø Supply Gap of Refinery Feedstock in China
Crude Oil, Condensate, Imported Straight-Run Fuel Oil, Homemade Residue, VGO, and Other Blended Feedstock……
Ø Margin and operation analysis
Ø Supply chains
Table of Contents
1 OVIEW OF CHINESE REFINERY FEEDSTOCKS
1.1 SUMMARY OF CHINA’S CURRENT REFINING CAPACITY
1.1.1 REFINING CAPACITY OF MAJOR AND INDEPENDENT REFINERIES
1.1.2 CHINA’S REFINERY DISTRIBUTION BY LOCATION
CHART 1-1-1 CHINA’S REFINERY DISTRIBUTION BY LOCATION
1.1.3 CHINA’S REFINERY DISTRIBUTION BY VENTURE
CHART 1-1-2 CHINA’S REFINERY DISTRIBUTION BY VENTURE
CHART 1-1-3 MAJOR REFINERIES’ GEOGRAPHIC DISTRIBUTION
1.2 ANALYSIS OF THE NATURE AND TYPE OF CRUDE PROCESSED BY MAJOR REFINERIES
CHART 1-2-1 SULFUR CONTENT OF CRUDE PROCCESSED BY SINOPEC
CHART 1-2-2 DENSITY OF CRUDE PROCESSED BY SINOPEC
CHART 1-2-3 ACID NUMBER OF CRUDE PROCESSED BY SINOPEC
1.2.1 API GRAVITY
TABLE 1-2-1 API OF CRUDE PROCESSED BY 43 MAJOR REFINERIES WITH CAPACITY EXCEEDING 100KBD
CHART 1-2-4 API OF CRUDE PROCESSED BY MAJOR REFINERIES
CHART 1-2-5 API OF CRUDE PROCESSED BY SINOPEC AND PETROCHINA
1.2.2 SULFUR CONTENT
TABLE 1-2-2 SULFUR CONTENT OF CRUDE PROCESSED BY 43 MAJOR REFINERIES
CHART 1-2-6 SULFUR CONTENT OF CRUDE PROCESSED BY MAJOR REFINERIES
CHART 1-2-7 SULFUR CONTENT OF CRUDE PROCESSED BY SINOPEC AND PETROCHINA
1.2.3 ACID NUMBER
TABLE 1-2-3 ACID NUMBER OF CRUDE PROCESSED BY 43 MAJOR REFINERIES
CHART 1-2-8 ACID NUMBER OF CRUDE PROCESSED BY MAJOR REFINERIES
1.2.4 ANALYSIS OF TYPE AND SOURCES OF CRUDE REGULARLY PROCESSED BY MAJOR REFINERIES
TABLE 1-2-4 CRUDE TYPE AND SUPPLY FOR MAJOR REFINERIES
1.3 NATURE OF DOMESTIC CRUDE
CHART 1-3-1 GROGRAPHIC DISTRIBUTION OF MAJOR OIL PRODUCTION BASE
TABLE 1-3-1 CRUDE NATURE OF MAJOR OILFIELDS
1.4 OTHER REFINING FEEDSTOCK I: CONDENSE OIL,VGO
1.5 OTHER REFINING FEEDSTOCK II: IMPORTED SRFO, DOMESTIC RESIDUE
CHART 1-5-1 FEEDSTOCK STRUCTURE OF INDEPENDENT REFINERIES (2009)
2 CHINESE REFINERIES’ FEEDSTOCK DEFICIT AND PROCUREMENT CHAIN
2.1 CRUDE OIL
2.1.1 CHANGES OF CHINA’S CRUDE RESERVE AND PRODUCTION
CHART 2-1-1 CHINA’S CRUDE RESERVE AND PRODUCTION IN THE PAST 20 YEARS
2.1.2 DOMESTIC PRODUCTION AND DEPENDENCE ON IMPORTS
CHART 2-1-2 CHINA’S CRUDE PRODUCTION AND DEFICITS IN THE PAST 20 YEARS
2.1.3 CURRENT OUTPUTS OF MAJOR PRODUCTION BASE
CHART 2-1-3 DISTRIBUTION OF MAJOR CRUDE PRODUCITON BASE
CHART 2-1-4 GEOGRAPHIC DISTRIBUTON OF MAJOR OILFIELDS
2.1.4 CRUDE DEFICITS AND SUPPLY/DEMAND BALANCE BY REGION
CHART 2-1-5 CHINA’S CRUDE SUPPLY/DEMAND BALANCE BY REGION
CHART 2-1-6 CHINA’S CRUDE DEFICIT BY COMPANY
2.1.5 STRUCTURAL CHANGES ON CHINA’S CRUDE SUPPLIER
CHART 2-1-7 CHINA’S CRUDE IMPORT FROM MAJOR SUPPLY COUNTRIES
CHART 2-1-8 SUPPLY FLUCTUATION FROM MAJOR SUPPLY COUNTRIES
2.1.6 SPOT CARGOES AND LONG-TERM SUPPLY
2.1.7 EQUITY CRUDE
2.2 CONDENSED OIL
2.2.1 SUPPLY/DEMAND ANALYSIS
TABLE 2-2-1 CAPACITY OF CHINA’S INTEGRATED REFINING AND PETROCHEMICAL COMPLEX
2.2.2 PRICE ANALYSIS
2.2.3 SUPPLY COUNTRY
2.3 IMPORTED STRAIGHT RUN FUEL OIL
2.3.1 MAJOR SUPPLY COUNTRIES AND OIL TYPE CHANGES
CHART 2-3-1 INDEPENDENT REFINERIES’ IMPORTED SRFO BY ORIGIN (2009)
CHART 2-3-2 INDEPENDENT REFINERIES’ IMPORTED SRFO BY ORIGIN (2008)
CHART 2-3-3 SUPPLY TREND OF IMPORTED SRFO BY ORIGIN (2005-2009)
2.3.2 MALAYSIA: ASIA’S SRFO BLENDING AND DISTRIBUTION HUB
2.4 DOMESTIC RESIDUE
CHART 2-4-1: REFINERIES’ FEEDSTOCK FLOW
2.5 VGO
2.6 OTHER BLENDS
3 IMPORT/DOMESTIC RESOURCES: OCEAN SHIPMENT,PIPELINE TRANSPORTATION AND STORAGE
3.1 INLAND CRUDE PIPELINE
CHART 3-1-1 DISTRIBUTION OF CHINA’S CRUDE PIPELINE
TABLE 3-1-1 MAJOR PIPELINES’ REFINERY REACH
3.2 CROSS-COUNTRY PIPELINE: ESPO, SINO-KAZAKSTAN, SINO-BURMA
TABLE 3-2-1 EXISTING AND PLANNED CROSS-COUNTRY PIPELINES
3.3 OFFSHORE CRUDE TERMINAL
TABLE 3-3-1 CHINA’S EXISTING AND PLANNED VLCC TERMINAL
3.4 SPR
TABLE 3-4-1 CHINA’S PLANNING SPR BETWEEN 2005-2010
3.5 COMMERCIAL RESERVE
TABLE 3-5-1 CHINA’S COMMERICAL OIL STORAGES UNDER CONSTRUCTING/PLANNING
3.6 OCEAN SHIPMENT AND VLCC BUILDING
TABLE 3-6-1 LIST OF CHINA’S MAJOR VLCC FLEET
4 CHINA’S REFINING FEEDSTOCK PROCUREMENT POLICIES
4.1 REGULATIONS ON IMPORT/EXPORT OF REFINING FEEDSTOCK
4.1.1 IMPORT QUALIFICATION AND QUOTA
TABLE 4-1-1 NAME OF THE FIVE QUALIFIED CRUDE IMPORTERS IN STATE-RUN
TABLE 4-1-2 NAME OF THE 22 QUALIFIED CRUDE IMPORTERS IN NON-STATE RUN
TABLE 4-1-3 IMPORT QUOTA FOR NON-STATE OPERATION IN THE PAST 5 YEARS
4.1.2 TARIFF ON CRUDE IMPORTS
4.2 REGULATIONS ON DISTRIBUTION OF REFINING FEEDSTOCK
TABLE 4-2-1 COMPANIES QUALIFED FOR CRUDE SELLING IN DOMESTIC MARKETS
4.3 ENTRY THRESHOLD OF REFINING BUSINESS
4.4 OIL PRODUCTS PRICING MECHANISM’S POSITVE IMPACT ON REFINING SECTOR
5 COMPARISION OF REFINING FEEDSTOCK COST
5.1 HIGH vs. LOW SULFUR CRUDE
CHART 5-1-1 PRICE TREND OF BRENT VS DUBAI (2000-2010)
CHART 5-1-2 BRENT/ DUBAI SPREAD (2000-2010)
CHART 5-2-3 PRICE TREND OF DAQING VS DUBAI (2000-2010)
CHART 5-2-4 DAQING/DUBAI SPREAD (2000-2010)
5.2 MEDIUM VS LIGHT CRUDE VS CONDENSED OIL
CHART 5-2-1 PRICE TREND OF TAPIS VS DURI (2000-2010)
CHART 5-2-2 TAPIS / DURI SPREAD (2000-2010)
5.3 HIGH/MEDIUM/LOW-ACID CRUDE
CHART 5-3-1 MARINE/WTI DISCOUNT (2008-2010)
5.4 FUEL OIL
CHART 5-4-1 REFINING MARGIN OF M100 (2005-2009)
CHART 5-4-2 REFINING MARGIN OF MIDDLE EAST 280CST (2005-2009)
6 MAJOR PLAYERS IN REFINING FEEDSTOCK SUPPLY
6.1 CRUDE SUPPLY CHAIN
6.1.1 CRUDE PRODUCER
CHART 6-1-1 GLOBAL CRUDE PRODUCTION AND SUPPLY BY REGION
CHART 6-1-2 GLOBAL CRUDE PRODUCTION AND SUPPLY BY COUNTRY
6.1.2 STATE-RUN OIL COMPANY AND INTERNATIONAL GIANT
6.1.3 CRUDE TRADER
6.2 SUPPLY CHAIN OF SRFO AND BLENDS
6.2.1 REFINERY AND PRODUCER
6.2.2 SRFO TRADER
6.2.3 SRFO IMPORTER
7 CHINESE REFINERIES’ FEEDSTOCK SUPPLY/DEMAND FORECAST
7.1 CRUDE DEMAND FORECAST
7.1.1 FORECAST ON CHINA SUPPLY/DEMAND (2011-2013)
TABLE 7-1-1CHINA’S CRUDE THROUGHPUT FORECAST
TABLE 7-1-2 FORECAST ON CHINA’S REFINING CAPACITY AND CRUDE SUPPLY GAP
TABLE 7-1-3 REFINING PROJECTS TO CONSTRUCT AFTER 2013
7.1.2 CRUDE SUPPLY DEFICIT (BY REGION)
CHART 7-1-1 FORECAST OF CRUDE SUPPLY/DEMAND BALANCE (BY REGION)
7.2 CONDENSED OIL AND VGO DEMAND FORECAST
7.3 IMPORTED SRFO DEMAND FORECAST
CHART 7-3-1 FORECAST ON DEMAND OF CHINA’S IMPORTED SRFO
APPENDIX
TABLE APP-1 NATURE AND TYPE OF CRUDE FED TO MAJOR REFINERIES
TABLE APP-2 CRUDE TERMINALS UNDER OPERATING/PLANNING
TABLE APP-3 CRUDE PIPELINES UNDER OPERATING/PLANNING
TABLE APP-4 CRUDE STORAGE TANKS UNDER OPERATING/PLANNING
TABLE APP-5 CHINA’S REFINING CAPACITY AND CRUDE SUPPLY GAP
