Wednesday, May 14, 2014

China could become net oil-product exporter to Middle East

CNPC  Dubai

Platts - 14 May 2014

China is on a long-term track to become a net exporter of petroleum products to the Middle East, a senior official of state-controlled China National Petroleum Corp said Tuesday.

"China could at some point become a net exporter of fuel products to Arab countries," CNPC Director of Research Ding Shaoheng said during a question and answer session at the Abu Dhabi International Downstream Exhibition and Conference.

China was likely to remain a major importer of Middle East crude for the foreseeable future, Ding said.

During a conference presentation on the long-term outlook for oil product supply and demand in the Chinese domestic market, Ding forecast that Chinese annual oil-product consumption would rise from 286 million mt in 2013 to 360 million mt in 2020 and 440 million mt in 2030.

Meanwhile, annual fuel production capacity at Chinese oil refineries was forecast to expand from 296 million mt in 2013 to 390 million mt in 2020 and 440 million mt in 2030.

Read more....

No comments:

Post a Comment