China's Oil Industry and Market


  • H.H. Wang, Potomac, MD, USA

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.

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For governments; oil producing, refining and trading firms and associated service companies; shipping companies; and banks.


Book information

  • Published: August 1999
  • Imprint: ELSEVIER
  • ISBN: 978-0-08-043005-8


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 .........
P.Tempest, Director General, World Petroleum Council

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.

Haijiang Henry Wang, Asian Energy News

Table of Contents

Chapter headings and subheadings: Preface. Economic and Political Outlook. Economic performance: overview and outlook. Political outlook. Oil Policy and its Impact. Oil industry reforms. Oil pricing. Oil distribution policy. Oil import policy. Crude Oil Production. Crude production levels, onshore and offshore. Tarim Basin exploration and development. Projected crude production. Refining Industry: Policy and Industry Prospects. Crude distillation and conversion capacity. Overview of refining capacity plans and assessment of actual changes. Refinery yields and output. Oil transportation. Refining policy. Petroleum Product Demand. Oil in total energy consumption. Gasoline. Diesel oil. Fuel oil. Other refined products. Crude direct burn. Total petroleum product demand. Oil Quality and its Environmental Impact. Crude quality. Environmental impact. Supply/Demand Balance: Implications for Trade. Crude oil balance. Petroleum product balance. Can China afford import expenses? Regional oil balance. China's impact on the Asian Market. Impact of crude imports on regional trade flows and crude prices. Impact of product fundamentals on regional supply/demand balances. Impact of product crude spreads. Conclusion. Appendices. Bibliography and References. Index.