Great Challenges and Even Greater Opportunities -China Oil and Gas Industry

Author: Liu Yue

ISBN: 978-1-84464-563-3

Ebook ISBN: 978-1-84464-564-0

Hardback-344 Pages

August 2020


£98 €120 $158


China's breakneck economic development and industrialization of the last three decades have turned the country into a major consumer of energy. In fact, China is currently the world's second biggest energy consumer, and is on course to become the biggest one within a relatively short period of time. This process has taken place in parallel with the rise in energy consumption in the rest of Asia and of the developing world. Just like most countries globally, China's energy supply structure is still dominated by fossil fuels such as coal, oil and natural gas. However, the use of renewable sources of energy is on the increase, as the need to achieve a sustainable mode of development becomes more keenly felt. This book focuses on the current state of China's oil and gas industries, the opportunities they present and the challenges they face. Oil and natural gas remain the two most important and most widely used sources of energy in the world, and in spite of the increasing development of renewable energy, it is unlikely that their status will be challenged any time soon. The oil and gas industries of China, the world's second largest economies, are thus clearly of great importance and interest to the entire world. Due to its high efficiency and the relatively low pollution it creates, oil has been the most popular source of energy globally since it replaced coal in the sixties. China is the second biggest oil consumer in the world behind the U.S., and its consumption is forecasted to continue rising. Although oil remains dominant worldwide, the demand for natural gas is also forecasted to grow steadily in the future, partly as an alternative to oil. There are various reasons for this. For one thing, it has now become a political imperative to reduce carbon emissions, and from this point of view natural gas is much preferable to oil, while being more convenient than renewable sources of energy. Another factor is concern about the inevitable decrease of the oil supply as "peak oil" is reached. Furthermore, the development of natural gas powered vehicles and of the natural gas chemical industry are also contributing to raise the demand. This trend towards a greater use of natural gas has also concerned China, which is currently the fourth largest consumer of natural gas in the world.


Chapter 1 China Energy Market Overview

1. Oil and Natural Gas Reserves

1.1 China Compared to the World

1.2 China Domestic Study

2. Oil and Natural Gas Production

2.1 China vs. the World

2.2 China Domestic Study

3. Oil and Natural Gas Consumption

3.1 China vs. World

3.2 China Domestic Study

4. Future Oil and Gas Strategic Adjustment

4.1 Some Necessary Steps for China's Future Strategic Adjustment on Oil

4.2 Some Necessary Steps for China's Future Strategic Adjustment on Natural Gas

Chapter 2 Global Oil Market Review

1. Oil Market

I . I Proved Oil Reserves

1.2 Oil Production and Consumption

1.3 Oil Trade

1.4 Oil Prices

1.5 Refining Capacity

2. The Natural-gas Market

2.1 Proved Gas Reserves

2.2 Natural Gas Production and Consumption

2.3 Shale Gas Development

2.4 Natural Gas Trade

2.5 Natural Gas Prices

Chapter 3 Global Oil Products Review

1. Refinery Operations

I.I The U.S

1.2 Europe

1.3 Asia

2. Asian Market

2.1 Gasoline

2.2 Naphtha

2.3 Middle Distillates

2.4 Fuel Oil

3. Refining Margins Expected to Face Further Pressure as Idle

Capacity Grows

4. Abundant Crude Supplies

Chapter 4 Regional Energy Market Overview

1. Oil Supply and Demand

2. Gas Supply and Demand

3. Liquefied Natural Gas

4. Key Themes

5. Main Countries and Regions Energy Market Overview

5.1 China

5.2 Australia

5.3 India

5.4 Japan

5.5 South Korea

5.6 Singapore

5.7 Taiwan, China

5.8 Hong Kong, China

5.9 Southeast Asia

Chapter 5 Business Environment Ranking

1. Asia Pacific Region

1.1 Composite Scores

1.2 Main Themes

1.3 High Stakes Game

1.4 Upstream Woes

1.5 The Future's Gas

2. China and India Continue to Drive Regional Demand

2.1 Upstream Scores

2.2 Downstream Scores

3. Oil and Gas Business Environment Ratings Methodology

Chapter 6 Business Environment

1. Legal Framework

l. l The Mineral Resources Law of the Peoples Republic of China, and Supporting Laws and Regulations

1.2 Laws and Regulations Concerning the Exploration of Petroleum and Natural Gas Resources

1.3 Tax Laws and Regulations on Oil and Natural Gas

1.4 The Oil and Natural Gas Pipeline Protection Law of the Peoples Republic of China

1.5 Oil and Natural Gas Law in the Making

2. Infrastructure

2.1 Oil and Gas Pipeline Construction

2.2 Construction of Oil Reserves

2.3 Construction of Liquefied Natural Gas Facilities

3. Policies Interpretation

3.1 Sector Planning

3.2 Specific Policies

4. Labor Force

5. Associated Industries

5.1 Coal

5.2 New Energy Sources

5.3 Automobile

5.4 Transportation

5.5 The Chemical Industry

Chapter 7 Environment Industry Market Review

1. Oil Products Price Review

2. Industry Supply and Demand Review

2.1 Supply Review

2.2 Demand Review

3. Import and Export Review

4. Sales and Profits Review

Chapter 8 Industry Forecast Scenario

1. Energy Outlook Overview

2. Oil Supply and Demand

2.1 Short-term Oil Demand Outlook

2.2 Long-term Oil Demand Outlook

2.3 Short-term Oil Supply Outlook

2.4 Long-term Oil Supply Outlook

3. Crude Oil and Products Trade

4. Oil Security Outlook

5. Natural Gas Supply and Demand

5.1 Short-term Natural Gas Demand Outlook

5.2 Long-term Natural Gas Demand Outlook

5.3 Short-Term Natural Gas Supply Outlook

5.4 Long-term Natural Gas Supply Outlook

6. Natural Gas Trade

7. Investment

8. Other Energy

8.1 Non-renewable Energy

8.2 Renewable Energy

8.3 Ultra-long-term Energy Outlook

Chapter 9 Macroeconomic Outlook

1. Introduction

2. The Current Economic Situation

2.1 Investment.

2.2 Prices

2.3 Foreign Trade

2.4 Domestic Demand

2.5 Industry

2.6 Agriculture

2.7 Real Estate

2.8 Finance

3. The Influence of the Macroeconomic Situation on the Oil and Gas Markets

3.1 National Economic Development and Oil Consumption

3.2 The Influence of National Industrial Policies and Structural

Evolution on Oil and Natural Gas Consumption

3.3 The Influence of Changes in the Energy Consumption Structure on Oil and Natural Gas Demand

3.4 The Influence of the Development of the Transportation Industry on Oil Consumption

3.5 The Influence of Household Car Ownership on Oil Consumption

Chapter 10 Company Monitor

1. China Petroleum and Chemical Corporation

1.1 Introduction

1.2 Production and Sales

1.3 Financial Operations

1.4 SWOT Analysis

1.5 Business Prospects

2. China National Petroleum Corporation

2.1 Introduction

2.2 Production and Sales

2.3 Financial Operations

2.4 SWOT Analysis

2.5 Business Prospects

3. China National Offshore Oil Corporation

3.I Introduction

3.2 Production and Sales

3.3 SWOT Analysis

3.4 Business Prospects

4. BP China

4.1 Oil and Gas Exploration and Production

4.2 Refining and Marketing

4.3 Alternative Energy Sources

4.4 Social Investment

5. Shell in China

5.1 Exploration and Production

5.2 Refining and Marketing

5.3 Social Investment

6. Exxon Mobil China

6.1 Exploration and Production

6.2 Refining and Marketing

6.3 Social Services

7. Chevron China

7.1 Exploration and Production

7.2 Refining and Marketing

7.3 Chemicals

7.4 Technology Transfer

8. ConocoPhillips China

8.1 Exploration and Production

8.2 Refining and Marketing

8.3 Social Services

9. Total China

9.1 Exploration and Production

9.2 Refining and Marketing

9.3 Chemicals

9.4 Natural Gas

9.5 Social Services

10. Husky Energy

Chapter 11 Study on Hot Topics

1. Challenge One: China and the IEA-A Question of Membership?

1.1 The IEA and Its Role

1.2 The Origin of this Challenge

1.3 Why China is Still not an IEA Member?

1.4 Conclusion

2. Challenge Two: China's Energy Transportation Passage

2.1 The Importance of the Energy Transportation Passage

2.2 The Challenges We are Facing

2.3 Conclusion

3. Challenge Three: Shale Gas in China

3.1 The Importance of Shale Gas

3.2 Shale Gas Exploration and Production

3.3 Current Limitations in China's Shale Gas Industry

3.4 The American Experience and the Lessons we have Leamed

3.5 Conclusion

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