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 519.2 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 519.2 Shengli (China) 67.14 WTI 66.21

      JLC concludes 12th Singapore Oil Seminar

      9:28pm 10 Sep, 2024 Ray Chen

      Guangzhou (JLC), September 10, 2024 – JLC successfully wrapped up its 12th Singapore Oil Seminar on September 10, with well-received presentations and in-depth discussions on the developments and trends of China’s oil industry.

       

      Co-organized by the Gulf Mercantile Exchange (GME), formerly known as the Dubai Mercantile Exchange (DME), the event threw a spotlight on the changes, challenges and opportunities facing China’s oil markets at a time when headwinds remained in the domestic economy.

       

      The seminar attracted distinguished guests from international oil majors including Saudi Aramco, Sinopec, PetroChina, ExxonMobil, Chevron, Shell, BP, ADNOC and international trading giants such as Trafigura, Glencore and Vitol.

       

       JLC, Oil Seminar

      Attendees listen to the presentations attentively

       

       JLC, Oil Seminar

      Tony Tang, General Manager of JLC International, kicks off the event

       

       

      Downward revision of forecasts on crude throughput and imports

      Victor Yang, Senior Analyst at JLC International, shared his insights through his presentation titled “A Drop in China’s Crude Demand Vs. Higher GDP in 2024, What do We Expect for Coming Years?”, which delved into the latest trends in China’s crude and oil product demand and prospects.

       

       JLC, Oil Seminar

      Victor Yang speaks at the seminar

       

      China’s crude throughput is expected to drop roughly 2% year on year to 14.40 million barrels per day (bpd) in 2024, in contrast to a marginal growth predicted previously, Victor Yang said.

       

      Crude imports are expected to shrink 2.74% year on year to 10.97 million bpd in 2024, he added, although refining capacity is still growing slowly. 

       

      Diesel demand was relatively weak, with the apparent consumption dropping 3.69% year on year in January-July 2024. Sinopec and PetroChina both reported lower diesel sales in the first half of the year.

       

      However, the downturn could be short-lived as crude throughput and imports are likely to rebound in the coming years, thanks to strong resilience of the economy. 

       

      Rosy outlook for naphtha and SAF

      Xie Yu, Chief Editor at JLC International, shared her insights into China’s naphtha and biofuel industries.

       JLC, Oil Seminar

      Xie Yu shares her insights

       

      China’s apparent consumption of naphtha is expected to grow 9.6% year on year to about 96 million mt in 2024, she said.

       

      The growth will be led by higher demand from steam crackers and reformers. In 2024, naphtha consumed by steam crackers and reformers is expected to account for 98% of total naphtha consumption in China, Xie Yu added.

       

      Domestic output and imports are both expected to rise on higher demand, she predicted.

       

      Referring to China's biodiesel industry, Xie Yu pointed out that domestic consumption may benefit from the government's biodiesel pilot programs.

       

      While exports of 1st generation of biodiesel and HVO to Europe may no longer be viable due to the additional tariffs, exporters may shift their focus to other destinations such as Southeast Asia or the U.S., she said.

       

      Market attention may also shift to sustainable aviation fuel (SAF), which is likely to experience a demand boom in the coming years. China’s SAF demand could reach 3 million mt in 2030, she predicted.

       

      A new chapter for Gulf Mercantile Exchange

      Russell Robertson, Chief Commercial Officer of GME, shared an incredible evolving story of the Gulf Mercantile Exchange, formerly known as the Dubai Mercantile Exchange.

       

       JLC, Oil Seminar

      Russell Robertson shares a fascinating story about GME

       

      Effective September 2, 2024, the Dubai Mercantile Exchange (DME) officially changed its name to the Gulf Mercantile Exchange (GME). This strategic rebranding followed the recent addition of Saudi Tadawul Group as a new strategic shareholder.

       

      The company is now owned by CME Group (32.6%), Saudi Tadawul Group (32.6%), Oman Investment Authority (23.1%), Dubai Holding (4.1%), as well as Shell, Vitol, Goldman Sachs, Morgan Stanley, and JP Morgan Chase (collectively 7.7%), said Russell Robertson.

       

      As DME evolves into GME, it continues to pioneer new benchmarks and trading solutions, reinforcing its role as a critical player in the global commodities market, he said.

       

      Since its launch, GME Oman Crude Oil Futures have traded 21 billion barrels through the exchange and a total of 3 billion barrels have been delivered through the exchange delivery mechanism, he added.

       

      The GME Oman crude currently represents 36% of the Middle Eastern crude oil heading to the Asian market, as compared to just 8% back in 2007.

       

      Last year, 24 companies went to the physical deliveries of the crude contracts. A vast majority of the Oman crude was shipped to Asian refiners, with occasional arbitrage cargoes moving to the U.S. or Europe, he said.


      主站蜘蛛池模板: 扒开双腿猛进入喷水免费视频| 欧美老熟妇欲乱高清视频| 国产白袜脚足j棉袜在线观看| 一区二区三区国产最好的精华液| 日韩精品中文字幕在线观看| 亚洲精品无码乱码成人| 美女被扒开胸罩| 国产成人精品影院狼色在线| 999久久久无码国产精品| 成人欧美一区二区三区黑人免费| 亚洲AV无码久久| 毛片网在线观看| 冲田杏梨在线精品二区| 非洲人zoxxxx另类| 国产精品亚洲专区无码不卡| JAPANESEHD熟女熟妇伦| 成人午夜福利视频镇东影视| 久久精品亚洲欧美日韩久久| 欧美国产日产片| 亚洲综合图片小说区热久久| 精品美女在线观看| 国产亚洲欧美在线视频| 四虎国产精品永久在线播放| 国语自产精品视频在线看| 一本岛一区在线观看不卡| 日本三级视频网站| 亚洲AV无码乱码国产精品| 欧美日韩亚洲一区| 亚洲综合无码一区二区| 精品国产一区二区三区久久狼| 国产乱码一区二区三区四| 日本亚洲精品色婷婷在线影院| 国产高清精品入口91| jizz.日本| 成人一区专区在线观看| 久久久久亚洲精品天堂| 日韩欧美在线观看视频| 亚洲一区二区影视| 欧美日韩在线视频专区免费| 亚洲综合色婷婷在线观看| 精品久久久久久|