Login

      E-mail
      Password

      Leading provider of market intelligence and pricing solutions for energy products and commodities in China

      LATEST
      Oman (Oman) 70.84 Brent 68.59 Brent Dtd (UK) 70.02 Dubai (UAE) 70.60 SC crude contract 523.5 Shengli (China) 67.14 WTI 66.21 Oman (Oman) 70.84 Brent 68.59 Brent Dtd (UK) 70.02 Dubai (UAE) 70.60 SC crude contract 523.5 Shengli (China) 67.14 WTI 66.21

      China Oil Market after Reopening – JLC Oil Seminar in Singapore

      7:14pm 06 Sep, 2023 Ray Chen

      Guangzhou (JLC), September 6, 2023 – The much-anticipated 10th JLC Oil Seminar in Singapore was successfully concluded at Conrad Centennial Singapore on September 5, with well-received presentations on the Chinese oil and biofuel markets after reopening.


      Co-organized by Vortexa, the event attracted over 150 distinguished guests from international oil majors including Chevron, ExxonMobil, Saudi Aramco, Shell, BP, Petrobras, Statoil, Petronas and international trading giants such as Trafigura, Glencore and Mercuria.


      Themed “China Oil Market after Reopening”, the seminar shed light on the latest developments of the Chinese oil market and prospects for the coming years, covering macroeconomics, crude demand and imports, oil product demand and exports and policies on the oil market.


      Compared with the previous seminar, the 10th JLC Oil Seminar in Singapore came at a time when China’s economy and oil industry showed new characteristics and resilience amid economic headwinds.

       JLC Oil Seminar

      JLC Oil Seminar

      Co-Chairman Huang Haixin kicked off the seminar with an opening speech. With a mission to make commodity trade more efficient, JLC has been providing professional services including market insights, data, consultancy, exhibitions, training, price assessments and digital platforms for nearly 20 years, Huang said. Since its founding, JLC has provided services to approximately 1.38 million users and customers worldwide, including well-known international oil, gas and chemical giants.

       

      "Since our Singapore office was established in 2015, more international customers have chosen JLC as their service provider," said the Co-Chairman. "Through JLC, they have gained a better understanding of China. We will work hard to provide them with better services."

       

      Stronger consumption of crude and refined products

      Victor Yang, Senior Analyst at JLC International, shared his insights through his presentation titled “China Oil Market after Reopening”, which threw spotlight on the latest trends in China’s crude and oil product demand and prospects.

       JLC Oil Seminar

      Regarding China's crude demand, China is set to see a big increase in 2023, Yang said. During January-July, the apparent crude oil consumption rose 9.33% on year to 15.41 million barrels per day (bpd), of which, crude imports surged 12.41% to 11.22 million bpd.

       

      Meanwhile, China’s dependence on imported crude reached 72.64% in the first seven months of 2023, a year-on-year increase of 2.22 percentage points. It will continue to rise in 2024-2025 when domestic crude production is relatively small and stable, Yang said. For independent refiners, the imports of alternative feedstocks (fuel oil and diluted bitumen) will account for a larger share in their feedstock slates in 2023.

       

      Oil products wise, domestic apparent consumption of gasoline, diesel and jet fuel is expected to gain 9.3%, 10.3% and 48.5% on year to 146 mln mt, 199 mln mt and 29 mln mt in 2023, respectively, Yang noted.

       

      The aviation sector has seen the fastest growth so far in 2023, driving up jet fuel demand sharply. In contrast, slower-than-expected growth in infrastructure construction and industrial activities would put a cap on diesel demand growth, he said.

       

      With another 12 mln mt of export quotas released, China will increase its exports of gasoline, diesel and jet fuel in the second half of the year, Yang noted.

       

      Optimism in naphtha and biofuel markets

      Xie Yu, Chief Editor at JLC International, delivered two speeches titled “Development of China’s Naphtha-related Industry Chain” and “Development of China’s Biomass Energy”, which delved on the latest trends in China’s naphtha and biofuel markets.

       JLC Oil Seminar

      For naphtha, the overall availability (output + imports) is expected to grow 4.4% on year to 60.40 mln mt in 2023, driven by potentially higher consumption from ethylene crackers and reformers, which collectively account for over 90% of naphtha consumption in China, Xie pointed out. Furthermore, the monthly imports of naphtha have set several record highs since August 2022.

       

      Domestic naphtha output is expected to rise in 2023-2025, as more crude processing capacity will come on stream and the downstream sector is also set to witness a sizable expansion during the three-year period, Xie noted.

       

      Speaking of new opportunities in the biofuel industry, Xie specifically pointed out that China is likely to see a considerable growth in sustainable aviation fuel (SAF), as Air China has started using jet fuel blended with 10% of SAF on some of its commercial flights in 2023, after using the fuel on some cargo planes in 2015. In a more recent effort to boost the industry, the Civil Aviation Administration of China (CAAC) issued an official guideline on SAF sustainability in July 2023, adding to the upside of the SAF market, Xie said.

       

      Emma Li, a senior analyst at Vortexa, also shared her views concerning the changes in China’s oil market amid growing uncertainties.

      JLC Oil Seminar


      Highlights at APPEC

      The 10th JLC Oil Seminar in Singapore coincided with the 39th Asia Pacific Petroleum Conference (APPEC) organized by S&P Global Commodity Insights. The three-day conference kicked off on September 4.

       JLC Oil Seminar

      JLC participated as an exhibitor, showcasing a full array of products such as customized reports and market insights on crude oil, natural gas, refined oil products and chemicals.

       

      As a leading provider of market data and pricing solutions, JLC also exchanged views with delegates from different oil and gas companies, traders and stakeholders.


      In an interview with Platts Live, Co-Chairman Huang Haixin shared his insights with the audience on multiple topics, such as the future trends in global commodities and how to build a digital and intelligent ecological system for commodity services. His speech was well received by the delegates.

      JLC Oil Seminar

      JLC Oil Seminar

      主站蜘蛛池模板: **性色生活片毛片| 久久精品aⅴ无码中文字字幕| 色欲精品国产一区二区三区AV| 国内外一级毛片| 丰满上司的美乳| 欧美亚洲另类热图| 人妻少妇精品中文字幕av蜜桃| 被公侵犯肉体中文字幕| 国产精品亚洲а∨无码播放麻豆| yellow字幕网在线91pom国产| 日本精品久久久久护士| 亚洲成av人片不卡无码| 痴汉の电梯在线播放| 国产亚av手机在线观看| 67194久久| 在线观看网站黄| 中国一级特黄高清免费的大片中国一级黄色片| 极品少妇伦理一区二区| 亚洲精品亚洲人成在线播放| 综合久久99久久99播放| 国产在线精品一区二区中文| 伺候情侣主vk| 黄色a级片电影| 国产精品成人网| a毛片全部播放免费视频完整18| 日批视频在线免费看| 亚洲1区1区3区4区产品乱码芒果 | 性高湖久久久久久久久aaaaa| 久久精品卫校国产小美女| 欧美成人精品第一区二区三区| 你是我的女人中文字幕高清 | awazliksikix小吃大全图片| 无遮挡很爽很污很黄在线网站| 97碰公开在线观看免费视频| 99久久国产综合精品女图图等你| 91精品国产闺蜜国产在线闺蜜| 1024香蕉视频| 色综合欧美在线视频区| 秋霞理论最新三级理论最| 欧美成人伊人十综合色| 日本在线观看一级高清片|