摘要In 2016, China's net imports of crude oil increased to 378.3 million tons and its net exports of product oil soared to 20.45 million tons. Refinery crude runs continue to grow at a low rate, and the domestic product oil market still has a supply surplus. Diesel consumption fell for the first time in 21 years. The liquefied petroleum gas (LPG) market continues to grow rapidly, spurred on by feedstock demand for chemicals and gasoline blending components, and imports of LPG have reached a record high of 16.12 million tons. The refinery throughput of PetroChina and SINOPEC had declined for 2 consecutive years, but crude oil imports climbed to a new high of 381 million tons as independent refineries boosted their utilization of capacity and the domestic oilfields produced a decreased amount of output. Imported oil now accounts for more than (2)/(3) of the Chinese market compared to being only about (2)/(3) 15 years ago. Moreover, the proportion of imported crude in refinery runs has risen to 70%. In 2017, China's economy will continue to face substantial pressure, and domestic demand for product oil will continue to grow slowly.
Abstract：In 2016, China's net imports of crude oil increased to 378.3 million tons and its net exports of product oil soared to 20.45 million tons. Refinery crude runs continue to grow at a low rate, and the domestic product oil market still has a supply surplus. Diesel consumption fell for the first time in 21 years. The liquefied petroleum gas (LPG) market continues to grow rapidly, spurred on by feedstock demand for chemicals and gasoline blending components, and imports of LPG have reached a record high of 16.12 million tons. The refinery throughput of PetroChina and SINOPEC had declined for 2 consecutive years, but crude oil imports climbed to a new high of 381 million tons as independent refineries boosted their utilization of capacity and the domestic oilfields produced a decreased amount of output. Imported oil now accounts for more than (2)/(3) of the Chinese market compared to being only about (2)/(3) 15 years ago. Moreover, the proportion of imported crude in refinery runs has risen to 70%. In 2017, China's economy will continue to face substantial pressure, and domestic demand for product oil will continue to grow slowly.
Tian Chunrong. Analysis of China's Oil Imports and Exports in 2016[J]. 中国油气, 2017, 24(1): 33-39.
Tian Chunrong. Analysis of China's Oil Imports and Exports in 2016. China Oil & Gas, 2017, 24(1): 33-39.
2017, Vol. 24 
