China's Oil Industry and Market

China's Oil Industry and Market

1st Edition - August 9, 1999

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  • Author: H.H. Wang
  • eBook ISBN: 9780080529110

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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.


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

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.

Product details

  • No. of pages: 427
  • Language: English
  • Copyright: © Elsevier Science 1999
  • Published: August 9, 1999
  • Imprint: Elsevier Science
  • eBook ISBN: 9780080529110

About the Author

H.H. Wang

Dr Haijiang Henry Wang is Director of the research sciences group at Quality Strategies, Inc. At Quality Strategies, Inc., the author is in charge of survey design, statistical analysis and modeling. Earlier, he was Manager of Pacific Analysis and Senior Analyst at Energy Security Analysis, Inc., where he authored the monthly China Watch report and direct data analysis, and econometric forecasting. The author has also held the position of Division Chief and Deputy Manager of the Second Credit (Energy Credit) Department of the Bank of China and was affiliated with the World Bank.
The author holds a B.A. in Economics from the People's University in Beijing, an M.A. in the same discipline from the Chinese Academy of Social Sciences, and M.S. and Ph.D. degrees in Energy Management and Policy from the University of Pennsylvania.
The author's publications have appeared in international journals, such as, Energy Policy, Resource Policy, Petroleum Economist, Oil & Gas Journal, Pacific & Asian Journal of Energy, The Journal of Energy and Development, Energy, and Energy Exploration & Exploitation.

Affiliations and Expertise

Potomac, MD, USA

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