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China's Oil Industry and Market : Elsevier Global Energy Policy and Economics - H.H. Wang

China's Oil Industry and Market

Elsevier Global Energy Policy and Economics

By: H.H. Wang

Hardcover Published: 23rd August 1999
ISBN: 9780080430058
Number Of Pages: 427

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This authoritative book on China's oil demand and government policies and practices rests on two essential foundations: first and foremost on the author's considerable knowledge of China's oil situation and prospects, together with his access to Chinese energy literature and data; and secondly, on that insight afforded to him and, therefore, his readers from his fluency in Chinese.

The author analyzes the Chinese oil market and the rising pressure on Beijing to reform policies which constrain China's ability to meet soaring demand and to pay for crucial imports at a time of growing political and economic uncertainties. Dr Wang acknowledges the importance of China meeting its growing domestic oil demand, if at all possible, through national production. The sheer weight of China's population, and its burgeoning requirements as industrialization spreads into most regions, dwarfs the needs of others and places unprecedented strain on international oil trades.

The author stresses the fact that the outcome is hard to define, yet the time required to tackle the nation's energy needs is not limitless. Moreover, he reminds the reader of the perennial difficulty in meeting widely disparate economic and energy needs in different regions of the vast country.

Industry Reviews

P.Tempest, Director General This text is both an authoritative and comprehensive work of reference on past developments and also a well-judged assessment of the present political, economic and fiscal climate concerning China's oil policy today.It is the best assessment I have seen .........

World Petroleum Council Haijiang Henry Wang This authoritative book presents an overall picture of current Chinese politics, energy policy, oil industry regulation, price regulation, important licenses and quotas, the production distribution system, infrastructure and the impact of economic reform on the oil business. The author stresses the fact that the outcome is hard to define, yet the time required to tackle the nation's energy needs is not limitless. Asian Energy News

Forewordp. vi
Prefacep. vii
Acronyms and Initialsp. xi
Conversion Factorsp. xii
Table of Tablesp. xviii
Table of Figuresp. xxiii
Economic and Political Outlookp. 1
Economic Performance: Overview and Outlookp. 1
Historic ratios of economic, oil consumption and production growthp. 4
Pace of macroeconomic reform and its impact on the oil industry and marketp. 6
The prospects for economic growthp. 15
Political Outlookp. 21
Petroleum politicsp. 21
Domestic political change: moderation or turbulence?p. 23
China's foreign relations: the impact on the oil businessp. 25
Perplexing dispute over oil in the Spratly Islandsp. 29
Political deadlock in the Taiwan Strait: economic relations help bridge the gapp. 40
Conclusionp. 47
Oil Policy and its Impactp. 49
Oil Industry Reformsp. 51
Establishing petroleum exchangesp. 51
Emerging stock-sharing companiesp. 52
Elimination of guaranteed profit for refineriesp. 53
Vertical integrationp. 53
Trade liberalizationp. 55
Impact of foreign exchange rate on import-exportp. 55
p. 56
Price deregulationp. 56
Price reregulation: one step back, two steps forward?p. 58
p. 61
Distribution decentralization (1991 to early 1994)p. 61
Distribution recentralization: who wins and who loses?p. 62
Oil Import Policyp. 64
Import license and quotasp. 65
Periodic import banp. 68
Lifting import licenses and quotas for crude: what next?p. 69
Tariffsp. 71
Conclusionp. 73
Crude Oil Productionp. 75
Crude Production Levels, Onshore and Offshorep. 76
Onshore exploration in eastern regional basinsp. 86
Offshore exploration in eastern regional basinsp. 90
Western regional basinsp. 95
Tarim Basin Exploration and Developmentp. 97
Exploration and development in the Tarim Basinp. 98
Transporting Tarim's oilp. 100
Projected Crude Productionp. 102
Methodology of crude production projectionp. 102
Oil reserves: potential for the futurep. 104
Crude output projectionp. 110
Conclusionp. 115
Refining Industry: Policy and Industry Prospectsp. 117
Crude Distillation and Conversion Capacityp. 118
Processing capacityp. 118
Refiningp. 121
Overview of Refining Capacity Plans and Assessment of Actual Changesp. 127
Planned refineriesp. 128
Assessment of capacity increasesp. 137
Refinery Yields and Outputp. 140
Current refinery yields and outputp. 140
Methodology of refinery output forecastp. 144
Product producibility projectionp. 145
Third-party processingp. 147
Oil Transportationp. 150
Refining Policyp. 152
Tight economic environment: bad moment for foreign investment in refiningp. 153
Protected refining industry may lose its competitivenessp. 154
Holding rein on foreign participation in the domestic marketp. 156
Policy constraint of refinery expansionp. 158
Conclusionp. 160
Petroleum Product Demandp. 163
Oil in Total Energy Consumptionp. 165
Gasolinep. 168
Gasoline demand overlookp. 169
Motor vehiclesp. 171
Gasoline demand forecastsp. 174
Diesel Oilp. 181
Diesel oil demand overviewp. 181
Diesel oil demand forecastsp. 185
Fuel Oilp. 187
Fuel oil use in the electric power sectorp. 188
Fuel oil use in the industrial sectorp. 190
Fuel oil as bunker fuelp. 191
Fuel oil use in refineriesp. 192
Total fuel oil demandp. 193
Other Refined Productsp. 194
Kerosenep. 194
Jet fuelp. 196
Naphthap. 197
Crude Direct Burnp. 197
Total Petroleum Product Demandp. 199
Total product demand overviewp. 199
Demand forecasts: are they plausible?p. 205
Conclusionp. 210
Oil Quality and its Environmental Impactp. 213
Crude Qualityp. 213
Crude production qualityp. 213
Crude consumption qualityp. 216
Environmental Impactp. 219
Environmental policyp. 219
Product quality and environmental impactp. 222
Supply/Demand Balance: Implications for Tradep. 227
Crude Oil Balancep. 228
Historical trend of crude imports/exportsp. 229
Destinations of exports and sources of importsp. 231
Crude balance outlookp. 235
Petroleum Product Balancep. 240
Petroleum product imports/exports and balancep. 240
Gasoline/naphtha imports/exports and balancep. 247
Middle distillate imports/exports and balancep. 249
Fuel oil imports/exports and balancep. 253
Other refined product balances: LPG and asphaltp. 256
Can China Afford Import Expenses?p. 258
Regional Oil Balancep. 261
Conclusionp. 266
China's Impact on the Asian Marketp. 267
Impact of Crude Imports on Regional Trade Flows and Crude Pricesp. 269
Crude trade flowsp. 269
Crude price differentialsp. 273
Impact of Product Fundamentals on Regional Supply/Demand Balancesp. 274
Asia's gasoline/naphtha balancep. 274
Asia's middle distillate balancep. 277
Asia's fuel oil balancep. 280
Impact of Product/Crude Spreadsp. 283
Gasoline/crude spreadp. 283
Distillate/crude spreadp. 284
Fuel oil/crude spreadp. 285
Refinery marginsp. 286
Conclusionp. 290
Conclusionp. 291
Institutional Framework -- Who's Who in the Oil Industryp. 295
Methodology of Demand Forecastsp. 299
Datap. 299
Gasoline Demand Forecastp. 300
Diesel Oil Demand Forecastp. 304
Fuel Oil Demand Forecastp. 305
Jet Fuel Oil Demand Forecastp. 309
Total Petroleum Product Demand Forecastp. 310
Assumptionsp. 311
Referencesp. 311
Statisticsp. 313
Oil Regulations and Official Contractsp. 363
Regulations of the People's Republic of China Concerning the Exploitation of Onshore Petroleum Resources in Cooperation with Foreign Enterprisesp. 363
Regulations of the People's Republic of China on the Exploitation of Offshore Petroleum Resources in Cooperation with Foreign Enterprisesp. 370
CNPC's Contract Terms for 3rd Onshore Bidding Roundp. 377
Addresses, Phone Numbers, and Fax Numbers of Oil Companiesp. 383
Bibliography and Referencesp. 391
About the Authorp. 395
Indexp. 397
Table of Contents provided by Syndetics. All Rights Reserved.

ISBN: 9780080430058
ISBN-10: 0080430058
Series: Elsevier Global Energy Policy and Economics
Audience: Professional
Format: Hardcover
Language: English
Number Of Pages: 427
Published: 23rd August 1999
Country of Publication: GB
Dimensions (cm): 23.39 x 15.6  x 2.39
Weight (kg): 0.77