Association of Chinese oil companies, China's oil and gas industry development research center released on March 21, the analysis and prospect of China's oil and gas industry development report 2016 blue book points out that global oil supply exceeds demand in 2016 will cause international oil prices generally continued downturn, China's refined oil market supply and demand tends to be stable growth. At the same time, the end of 2015, China's refining the total capacity of 503 million tons/year, become the second only to the United States the world's second largest oil refining.
China's oil enterprises association full-time vice chairman and secretary general Peng Yuanzheng points out, oil prices remain low, oil and gas exploration and development investment over the next several years is likely to be ten years the average level of less than 2015 years ago. Global oil and gas proved reserves in 2015 basic stable, Opec countries oil reserves are maintained in 2014, 1.206 trillion barrels, accounting for 73% of the world's oil reserves.
"Blue book" points out, looking ahead to 2016, the global economic recovery is still uncertain, the stability of the Opec oil supplies and the shale gas revolution will further lead to the excess supply of crude oil. Global oil demand will cause the 2016 international oil prices remain weak as a whole.
Look from the Chinese market, apparent consumption of crude oil in the whole year of 2015 to 518 million tons, up 5.8%; Apparent consumption of natural gas 185.5 billion cubic meters, up 2.9% from a year earlier. At the same time, China's crude oil and natural gas production growth also slowed, annual production of 213 million tons of crude oil, up 1.8% from a year earlier, the gas production is about 135 billion cubic meters, an increase of about 5.6%.
"China's product oil market supply and demand tends to be stable growth in 2016." Peng Yuanzheng pointed out that the expected crude imports stable growth, the price of crude oil or picked up a little bit; Stable oil supply and demand growth, new energy development, traditional gasoline and diesel market share continue to be squeezed; Natural gas consumption growth is slowing, smooth production and imports, gas price or will decline.
In 2015, China's overseas oil and gas cooperation highlights appear frequently. China's oil and gas enterprises "go out" become a strategic move to adapt to the international petroleum market challenge. By the end of December 2015, China's overseas business new crude oil recoverable reserves of oil and gas completed 58.9% of the annual plan; To achieve equivalent rights of oil and gas production of 37.353 million tons. At the same time, Chinese oil companies in overseas oil and gas operations formulated the "comprehensive open source throttling authors work efficiency implementation plan", the implementation of efficiency priority and low cost development, differentiation management driven by innovation "four strategy" "eight measures", to realize the main cost index decrease overall goal.