Page 19 - Oil&Gas-AustralAsia-2015-Issue-5
P. 19
C HINA
76.20 million barrels, Platts calculations LPG imports over January-September clines along with cooler weather.
are based on Xinhua’s China Petroleum have surged 72 per cent year over year Demand for fuel oil in September rose
Stockpile Statistics. to 357,000 barrels per day. 38.10 per cent year over year to 1.01
Associate Editorial Director for Asia oil Apparent demand for gasoline rose 8.1 million barrels per day and demand
news, Mriganka Jaipuriyar said China’s per cent year over year to 2.67 million over January-September rose 17.1 per
gasoil exports reached record highs in barrels per day with January-September cent year over year to 963,000 barrels
September, which has eased some of the demand rising 10.8 per cent to 2.68 mil- per day.
pressure on inventory build-up. lion barrels per day. This is slower than Net imports of fuel oil rose 79.8 per
“Up to 70 per cent of the fuel is used the 21.9 per cent year over year growth cent year over year to 571,000 barrels
in the transport sector while the seen in August. per day, led by a jump in imports of
remainder is used by various sectors, According to Xinhua’s China Petroleum petroleum bitumen blend.
including construction, farming and Stockpile Statistics, gasoline stocks rose Data from the General Administration
fishing, industrial heating and to power 2.7 per cent year over year at the end of Customs showed that bitumen blend
machinery. of September to 57.21 million, Platts imports in September surged 515.4 per
Apparent demand for gasoil rose 2.6 calculations based on Xinhua’s China cent year over year.
per cent over January to September to Petroleum Stockpile Statistics showed. Month-to-month demand in China
3.56 million barrels per day. The rise in stocks came despite a sharp is generally viewed to be subjected to
Demand for LPG surged 21.1 per cent jump in gasoline exports, suggesting short-term anomalies which are of in-
year on year to 1.1 million barrels per actual gasoline demand could be lower terest and important to note, but often
day. The growth was led by continuing than Platts Analytics estimates. fail to reveal the nation’s underlying
demand for imports from new propane Senior analyst James Lu from Platts demand trends.
dehydrogenation plants. China Oil Analytics said that it was Year-to-year comparisons are viewed by
So far this year, apparent demand for normal for gasoline demand to slow the marketplace to be more indicative
LPG has gained 21.4 per cent year over down slightly in September from the of the country’s energy profile Platts
year to 1.22 million barrels per day. peak demand seen in summer because said.§
consumption for air-conditioning de-
CNPC and BP sign Sichuan shale deal
By Marie RYAN
In an expansion of their ongoing global “This strategic partnership not only conducive to enhancing cooperation,
partnership, BP and China National strengthens the relationship between and take our strategic partnership to a
Petroleum Corporation (CNPC) have the UK and China’s largest energy new height,” Mr Yilin said.
entered into an agreement on the strate- companies, it further cements the rela- In addition to these agreements to
gic cooperation covering potential shale tionship between China and the UK as explore opportunities within China, BP
gas exploration and production in the global business partners,” Mr Dudley said. and CNPC have agreed to explore oil
Sichuan Basin, and future fuel retailing The agreement was signed during Pres- and LNG trading opportunities global-
ventures in China and other interna- ident of The People’s Republic of China, ly, work together on carbon emissions
tional partnerships. Mr Xi Jinping’s visit to the UK in the trading, and share knowledge around
BP Group Chief Executive Bob Dudley presence of President Xi and UK Prime technology and management practices.
said the success of our Rumaila oil field Minister David Cameron. BP China President Edward Yang said
project in Iraq has convinced us that It is expected to add several billion BP has been committed to doing busi-
there are more opportunities for coop- dollars in future trade to BP’s already ness in China for more than 40 years
eration between CNPC and BP. significant business with China. and we’re pleased to expand a partner-
“CNPC and BP have enjoyed a long- ship that supports continued growth of
China’s CNPC and BP will partner to develop shale. standing, cooperative relationship the Chinese energy sector.
Image courtesy of BP involving projects both in and outside “We expect China’s energy production
of China,” said Wang Yilin, CNPC to rise 47 percent and its consumption
Chairman. to grow 60 percent by 2035, making
“This framework agreement on strategic it the world’s largest energy importer.
cooperation will further facilitate our Through this agreement and others, BP
two companies’ joint efforts in explor- is committed to being one of China’s
ing opportunities on a global scale, be preferred energy partners now and in
the future,” Mr Yang said. §
A Awww.oilandgasaustralasia.com NOVEMBER/DECEMBER 2015 OIL & GAS ustral SIA 17
76.20 million barrels, Platts calculations LPG imports over January-September clines along with cooler weather.
are based on Xinhua’s China Petroleum have surged 72 per cent year over year Demand for fuel oil in September rose
Stockpile Statistics. to 357,000 barrels per day. 38.10 per cent year over year to 1.01
Associate Editorial Director for Asia oil Apparent demand for gasoline rose 8.1 million barrels per day and demand
news, Mriganka Jaipuriyar said China’s per cent year over year to 2.67 million over January-September rose 17.1 per
gasoil exports reached record highs in barrels per day with January-September cent year over year to 963,000 barrels
September, which has eased some of the demand rising 10.8 per cent to 2.68 mil- per day.
pressure on inventory build-up. lion barrels per day. This is slower than Net imports of fuel oil rose 79.8 per
“Up to 70 per cent of the fuel is used the 21.9 per cent year over year growth cent year over year to 571,000 barrels
in the transport sector while the seen in August. per day, led by a jump in imports of
remainder is used by various sectors, According to Xinhua’s China Petroleum petroleum bitumen blend.
including construction, farming and Stockpile Statistics, gasoline stocks rose Data from the General Administration
fishing, industrial heating and to power 2.7 per cent year over year at the end of Customs showed that bitumen blend
machinery. of September to 57.21 million, Platts imports in September surged 515.4 per
Apparent demand for gasoil rose 2.6 calculations based on Xinhua’s China cent year over year.
per cent over January to September to Petroleum Stockpile Statistics showed. Month-to-month demand in China
3.56 million barrels per day. The rise in stocks came despite a sharp is generally viewed to be subjected to
Demand for LPG surged 21.1 per cent jump in gasoline exports, suggesting short-term anomalies which are of in-
year on year to 1.1 million barrels per actual gasoline demand could be lower terest and important to note, but often
day. The growth was led by continuing than Platts Analytics estimates. fail to reveal the nation’s underlying
demand for imports from new propane Senior analyst James Lu from Platts demand trends.
dehydrogenation plants. China Oil Analytics said that it was Year-to-year comparisons are viewed by
So far this year, apparent demand for normal for gasoline demand to slow the marketplace to be more indicative
LPG has gained 21.4 per cent year over down slightly in September from the of the country’s energy profile Platts
year to 1.22 million barrels per day. peak demand seen in summer because said.§
consumption for air-conditioning de-
CNPC and BP sign Sichuan shale deal
By Marie RYAN
In an expansion of their ongoing global “This strategic partnership not only conducive to enhancing cooperation,
partnership, BP and China National strengthens the relationship between and take our strategic partnership to a
Petroleum Corporation (CNPC) have the UK and China’s largest energy new height,” Mr Yilin said.
entered into an agreement on the strate- companies, it further cements the rela- In addition to these agreements to
gic cooperation covering potential shale tionship between China and the UK as explore opportunities within China, BP
gas exploration and production in the global business partners,” Mr Dudley said. and CNPC have agreed to explore oil
Sichuan Basin, and future fuel retailing The agreement was signed during Pres- and LNG trading opportunities global-
ventures in China and other interna- ident of The People’s Republic of China, ly, work together on carbon emissions
tional partnerships. Mr Xi Jinping’s visit to the UK in the trading, and share knowledge around
BP Group Chief Executive Bob Dudley presence of President Xi and UK Prime technology and management practices.
said the success of our Rumaila oil field Minister David Cameron. BP China President Edward Yang said
project in Iraq has convinced us that It is expected to add several billion BP has been committed to doing busi-
there are more opportunities for coop- dollars in future trade to BP’s already ness in China for more than 40 years
eration between CNPC and BP. significant business with China. and we’re pleased to expand a partner-
“CNPC and BP have enjoyed a long- ship that supports continued growth of
China’s CNPC and BP will partner to develop shale. standing, cooperative relationship the Chinese energy sector.
Image courtesy of BP involving projects both in and outside “We expect China’s energy production
of China,” said Wang Yilin, CNPC to rise 47 percent and its consumption
Chairman. to grow 60 percent by 2035, making
“This framework agreement on strategic it the world’s largest energy importer.
cooperation will further facilitate our Through this agreement and others, BP
two companies’ joint efforts in explor- is committed to being one of China’s
ing opportunities on a global scale, be preferred energy partners now and in
the future,” Mr Yang said. §
A Awww.oilandgasaustralasia.com NOVEMBER/DECEMBER 2015 OIL & GAS ustral SIA 17
