1. Overview: CHINA'S Refining industry layout
1.1 Development in China's Refining Capacity
Chart: Distribution of Refining Capacity in the World in 2008
Chart: Refinery Scale Comparison: China vs. Major Refining Giants
Chart: Refining Capacity Expansion in China (1997-2011)
Chart: Changes in China's Refining Capacity (2004-2008)
1.2 Major Refiners in China
1.2.1 China's Refining Capacity – by Ownership
Chart: China's Refining Capacity - By Ownership
Table: Average Refinery Capacity of China’s Top 4 Refiners
1.2.2 Top 10 Refineries in China
Table: Top 10 Refineries in China - By Capacity
1.2.3 China's Refining Capacity – by Region
Chart: China’s Refining Capacity – by Region
Map: Distribution of China’s Refineries
1.3 Foreign Capital in China's Refining Industry
Table: Sino-Foreign Joint Venture Refineries in China
2. Characteristics of Refineries in China
2.1 Typical Processing Flow in Chinese Refineries
Chart: Processing Flow of Fuel Refineries
Chart: Processing Flow of Fuel-Chemical Refineries
Chart: Processing Flow of Fuel-Lube Oil Refineries
2.2 Complexity and Configuration of Chinese Refineries
Chart: Refinery Configuration Comparison
2.2.1 Simple Topping Units
Table: Chinese Refineries with Topping Capacity Above 160kb/d
2.2.2 Residue Catalytic Cracking Conversion Units
Table: Key FCCs and RFCCs in Chinese Refineries
2.2.3 Delayed Cokers
Table: Capacity of Cokers in Major Chinese Refineries
2.2.4 Distillates Hydrocracking Conversion Units
Table: Hydrocracking Conversion Units in Major Chinese Refineries
2.2.5 Hydrofining Conversion Units
Table: Hydrofining Units in Major Chinese Refineries
2.2.6 Reforming Units
Table: Reforming Units in Major Chinese Refineries
2.2.7 Aromatics Units
Chart: China’s Aromatics Production Capacity by End 2008
2.2.8 Bitumen Units
Table: China's Top 10 Bitumen Producers
2.2.9 MTBE Units
2.2.10 Ethylene Units
2.3 Independent Refineries Independent of Sinopec and PetroChina
Chart: Aggregate Capacity of Independent Refineries (2008) – By Region
Table: China's Top Ten Independent Refineries at End 2008
3. Government Policy Perspective on the Refining Industry
3.1 Petrochemical Stimulus Package for 2009-2011
3.2 Policy Guidelines for Joint-Venture Refinery Investment
3.2.1 Refining Industry Entrance Requirements
3.2.2 New Crude-Based Pricing Mechanism for Domestic Product Prices
Table: Adjustments in China’s Distillates Prices in the Last Four Years
3.2.3 Higher Consumption Taxes Levied on Oil Products
Table: China's Consumption Tax Reform for Oil Products
3.2.4 Qualifications for Crude Oil & Refined Oil Distribution Business in China
Table: China's Authorized Crude Distributors at End 2008
Table: Oil Products Wholesale License Holders Statistics
3.3 Import/Export Policy
3.3.1 Import/Export Duties on Petroleum Products
Table: Provisional Import Tariffs on Crude Oil and Main Refined Oils
3.3.2 Import Licenses and Quotas
3.3.3 Export Tax Policy for Petroleum Products
Table: Quotas of Refined Oil Processing Trade Granted to PetroChina and Sinopec in 2009
3.4 Deregulation of the Chinese Oil Market
4. Opportunities & Challenges for Foreign Investment in China's Refining Sector
4.1 Opportunities
4.1.1 China's Increasing Dependency on Foreign Oil
Chart: China's Dependency on Foreign Crude in 2004-2008
4.1.2 Capital Advantage
4.1.3 Technical Advantage
4.2 Challenges:
4.2.1 Barriers in the Refining Sector
4.2.2 Barriers in the Chinese Refined Oil Wholesale Market
4.2.3 Limitations in Importing and Exporting
4.2.4 Monopolization of SOEs in Wholesale and Retail Markets
Chart: Distribution of Petrol Stations at End 2008 – by Ownership
5. Crude oil flow and sourcing IN CHINA
5.1 Crude Oil Supply and Demand in China
Chart: China’s Crude Oil Supply in 2004-2008
5.2 Crude Oil Imports
5.2.1 Crude Import Trend in 2004-2008
Chart: China’s Crude Oil Imports in 2004-2008
5.2.2 Flow of Crude Oil Imports – By Region
Chart: China’s Crude Oil Imports – By Region
Chart: Major Crude Oil Imports Processing Customs in China (2008 vs. 2004)
Map: Major Crude Oil Imports Processing Customs in China (2008 vs. 2004)
5.2.3 Major Origins of China's Crude Imports
Chart: Changes in Major Crude Oil Suppliers to China – Comparing 2008 with 2004
5.3 Growing Supplies from Russia, Brazil and Venezuela Amid Closer Energy Cooperation
Table: China's "Loan-for-Oil" Agreements Achieved in Jan-Apr 2009
5.4 Domestic Crude Oil Output
Chart: China’s Crude Oil Production – by Ownership (2008)
Map: Distribution of China’s Major Oilfields
6. Cost and margin analysis of China's refinING INDUSTRY
6.1 Feedstock Components of China's Refineries
6.2 Changes in Refining Margins Since 2004
Chart: CNPC’s & Sinopec’s Refining Profits/Losses in 2004-2008
Chart: Change in China’s Refining Margins in 2007-2008
6.3 Impact of Current Oil Products Pricing Mechanism
6.4 Wider Use of Heavy Sour Crude to Reduce Feedstock Costs
6.5 Profit Model of China's Refineries
7. Production at Chinese Refineries
7.1 Crude Throughputs at Chinese Refineries
Chart: Historical Crude Oil Throughput (2004-2008)
Chart: Average Run Rates of China's Major Refineries (2004-2008)
Chart: Average Run Rates of China's Major Refineries in 2008
7.2 Product Yield Ratios of China’s Major Refineries
Chart: Oil Product Yield Ratios of China’s Major Refineries (2004-Q1’2009)
Chart: Product Output of Sinopec/CNPC in 2008
7.3 Refinery Turnaround Schedules in 2009
Table: Maintenance Schedules of Major Refineries for 2009
8. Forecast of China'S Refining Industry Layout
8.1 China’s Capacity Expansion in 2009 and Beyond
8.1.1 Newly-Added or Planned Major Refineries in 2010 and Beyond
Table: Newly-Added or Planned Major Refineries in 2010 and Beyond
Map: Major Refinery Expansion Projects in China for 2010 and Beyond
8.1.2 Newly-Added or Planned Capacity in Existing Refineries in 2009 and Beyond
Table: Newly-added or Planned Capacity in Existing Refineries in 2009 and Beyond
Table: Secondary Refining Units to Be Added or Expanded in Major Refineries
8.1.3 Estimated Layout of China's Refining Industry by 2013
Chart: Estimated Distribution of Refining Capacity Increases in Chinese Major Refineries in 2009-2013 - by Region
Chart: Estimated Distribution of Refining Capacity in Chinese Major Refineries by 2013 - by Region
8.1.4 Capacity Expansion of Independent Refineries in 2009-2010
Table: Capacity Expansion Plans of Independent Refineries in 2009-2010
9. Government Specification Regulation
9.1 Background of Government Regulation
Table: China's Vehicle Emission Standards Schedule (original plan)
Table: China's Specifications for National Standard Gasoline and Gasoil
9.2 The Government's Timetable for National Standards
Table: China's Motor Vehicle Emission Standards Schedule (revised plan)
Table: Specifications for National Phase III Gasoline for Motor Vehicles (GB 17930-2006)
Table: Specifications for National Phase III Gasoil for Motor Vehicles (GB 252-2000)
Table: Specifications for Beijing Local Phase IV Gasoline for Motor Vehicles (DB11/ 238-2007)
Table: Specifications for Beijing Local Phase IV Gasoil for Motor Vehicles (DB11/239-2007)
9.3 The Impact of New Specifications Regulation on Refinery Upgrading
10. Crude Oil Logistics & Infrastructure
10.1Strategic Petroleum Reserve (SPR)
Table: Phase I of China’s SPR Bases
Table：China’s Major Commercial Crude Reserve Bases
10.2 China's World-Class Crude Receiving Terminals
Map: Distribution of China’s Major Crude Jetties & Tanks
Table: China’s Major Crude Receiving Jetties in Operation
Table: China’s Major Crude Receiving Jetties Being Planned or Under Construction
10.3Overview of Crude Pipeline Networks in China
10.3.1 Inner Pipeline Network
Table: Main Pipelines for Domestic Crude Oil Transportation in China
10.3.2 Cross-Country Pipeline Network
Table: Main Pipelines for Foreign Crude Oil Supply into China
10.4 Outlook for Logistics and Infrastructure Projects
11. Refined products outlook and trends in China
Chart: Petroleum Consumption Growth vs. Refinery Capacity Growth in 2004-2008
11.1 LPG
Table: China's LPG Apparent Consumption for 2008
Chart: LPG Consumption Growth in 2002-2008
Chart: Forecast on China’s LPG Apparent Consumption in (2009-2013)
11.2Gasoline
Table: China's Gasoline Apparent Consumption for 2008
Chart: China’s Gasoline Consumption Growth in 2004-2008
Table: China's Gasoline Apparent Consumption Forecast for 2009
Chart: China’s Gasoline Apparent Consumption Forecast (2009-2013)
11.3 Naphtha
Table: China's Naphtha Apparent Consumption for 2008
Chart: Naphtha Consumption Growth in 2004-2008
Table: China’s Ethylene Apparent Consumption in 2004-2008
Table: China’s Ethylene Production Capacity By End 2008
Chart: China's Naphtha Apparent Consumption Forecast (2009-2013)
11.4 Kerosene and Jet
Table: China’s Kerosene Apparent Consumption for 2008
Chart: China’s Kerosene Apparent Consumption (2004-2008)
Table: China’s Apparent Kerosene Consumption Forecast for 2009
Chart: China Kerosene Demand Forecast (2009-2013)
11.5 Gasoil
Table: China’s Gasoil Apparent Consumption for 2008
Chart: Gasoil Consumption Growth in 2004-2008
Table: China’s Gasoil Apparent Consumption Forecast for 2009
Chart: China Gasoil Demand Forecast (2009-2013)
11.6 Fuel Oil
Table: China's Fuel Oil Apparent Consumption for 2008
Chart: Fuel Oil Consumption Growth in 2004-2008
Chart: Fuel oil Consumption by Sector in 2008
Table: China's Fuel Oil Apparent Consumption Forecast for 2009
Chart: Forecast of China’s Fuel Oil Demand (2009-2013)
Appendix:
A1. China's GDP Growth in 2001-2008
A2. China's Top 10 Oilfields in 2008
A3. China's Top 20 Refineries’ Throughput in 2008
A4. China's Top 20 Gasoline Production Regions in 2008
A5. China's Top 20 Gasoil Production Regions in 2008
A6. China's Top 20 Kerosene Production Regions in 2008
A7. China's Top 20 Fuel Oil Production Regions in 2008
A8. China's Monthly Crude Imports and Exports in 2008
A9. China's Crude Imports by Source in 2008
A10. China's Crude Imports by Customs in 2008
A11. Crude Imports by Source and Likely Refinery (2004)
A12. Crude Imports by Source and Likely Refinery (2008)
A13. Breakdown on China's 78 Major Refineries: CDU Capacity
A14. Breakdown on China's 40 Major Refineries: (≥100kb/d): Complexity & Configurations
A15. Breakdown of Top 10 Independent Refineries: Capacity & Configurations
A16. Specifications of Unleaded Gasoline for Motor Vehicles
A17. Specifications of Ethanol Gasoline for Motor Vehicles
A18. Specifications of No.3 Jet Fuel
A19. Specifications of Naphtha for Petrochemical Plants
A20. Specifications of Gasoil for Vehicle Use (GB 252-1994)
A21. Specifications of Mixed/Cracked 180CST High Sulfur Fuel Oil in East China
A22. Specifications of Mixed/Cracked 180CST High Sulfur Fuel Oil in South China
A23. Specifications of Straight-Run 180CST High Sulfur Fuel Oil
A24. Specifications of Domestic Blended Low-Sulfur High-Viscosity No. 250 Residue and High-Sulfur Residue
A25. Specifications of LPG (GB 11174-89)
A26. Specifications of Industrial Propane
A27. Specifications of Industrial Butane
