Contrast expensive production costs and low international oil prices, domestic oil producers and processors to chose more cost-effective "buy goods production," strategy. And in the case of reserve capacity is limited, with oil refining enterprises import gradually let go, this group is becoming the new force of China's crude oil imports.
Larger space to refining enterprises
Concern since last year "stomach snacks than" came to be. Zhongyu forecast information, due to factors such as inventory and transportation, China's crude imports growth this year will be slightly down compared to the same, is expected to grow 8%, year 320 million tons of crude oil imports.
Analysts believe that crude imports climbed, port loading and unloading capacity of our country and puts forward a new test oil reserve capacity. Crude oil storage in China only for its crude imports 16 times, main storage center or tends to saturation.
Customs data show that in the first quarter in China's largest oil port of Qingdao port of discharge of crude oil leapt 73% year-on-year, but the lack of local refineries to oil pipeline can only give priority to with trucks, logistics bottlenecks.
In the process of increased imports, China's refining enterprise are involved in a new identity. According to media reports, since August 2015, refined refinery are applying for import of crude oil using credentials. At present, the domestic refined refinery has 26 involving import crude oil use, 16 of them have been approved, or other has received written audit is still in application. In terms of crude oil imports qualification, there are 11 enterprises qualification for imported crude oil.
, according to data from the ministry of commerce of the crude oil in 2016 than state-run trade import quota of 87.6 million tons, an increase of 50 million tons, compared with 2015 new increment is mainly composed of land use. In the future to refined oil imports is a big space to further increase.
With crude oil imports rise, some domestic traders will focus to the international crude oil suppliers, the proportion of imported fuel oil falling fast.
Sources said, as the use of crude oil and imported more loose, the use of imported fuel oil for the refinery, or from the current 25% to 15% by the end of that year in the fuel oil in refining raw material usage or to 100-1.8 million tons, will be the lowest level in recent years.
However, some analysts pointed out that China's crude oil imports did not translate into effective demand. Data show that in the first quarter of 2016 domestic crude oil processing capacity of 120 million tons, fell to 5 million tons.
Crude oil imports continued to grow
In April this year, China's crude oil output was the lowest in nearly three years. The national bureau of statistics recently released figures showing that China's crude oil output of 16.59 million tons in April, down 5.6% year on year, the average daily about 4.04 million barrels a day, is the lowest level since July 2013. The first four months of the year crude oil output of 68.14 million tons, 4.11 million barrels a day on average, down 2.7% year on year.
The general administration of customs May 8, according to data released in April, China's oil imports amounted to 32.58 million tons. Is equivalent to 7.96 million barrels a day, one month before the increased by 3.2%, close to a record high in February of 8.04 million barrels a day. Net oil exports fell 10% in March to 1.17 million tons.
The United States on Monday (WTI) crude oil futures rose 1.64%, to $47 a barrel. Brent crude oil at $48.58 a barrel. Rebound in crude oil, the current price of crude oil is better than two years ago, international oil prices high of $100 "played in half.
The personage inside course of study to explain, in a $40 oil price level, the cost of domestic oil companies face huge pressure. Oil is better than to buy oil deals.
Within the framework of a larger, "hoarding oil economics" has been accepted by more people. Market participants believe that on the one hand can increase the national strategic petroleum reserve, on the other hand can also save a lot of money taking advantage of low oil prices. Affected by many factors, China's crude oil import channels has been variable. Middle East oil producers are the main oil imports areas in China, more than 50%.
In 2015, according to China's crude oil output of 215 million tons, a 1.7% increase over last year, at the same time China's oil consumption of 543 million tons. In 2015 our country petroleum foreign dependence above 60%. Crude oil imports continued to grow.