Summary
This profile is the essential source for top-level energy industry data and information. The report provides an overview of the oil industry in China. It details the market structure, regulatory environment, infrastructure and provides historical and forecasted statistics relating to the supply/demand balance for the industry. It also provides information relating to the oil assets (oil fields, refineries, pipelines and storage terminals) in China. The report also analyses the fiscal regime relevant to the oil assets in China and compares the investment environment in China with other countries in the region. The profiles of the major companies operating in the oil sector in China together with the latest news and deals are also included in the report.
Scope
-Historic and forecast data relating to production, consumption, imports, exports and reserves are provided for the oil industry for the period 1995-2020.
-Historical and forecast data and information for all the major oil fields, refineries, pipelines and storage terminals in China Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020 for the period 1995-2020.
-Operator and equity details for major oil assets in China Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020
-Key information relating to market regulations, key energy assets and the key companies operating in the China Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020's oil industry.
-Detailed information on key fiscal terms (such as rents, bonuses, royalty, cost recovery, profit oil, petroleum and corporate taxes) pertaining the geography is also provided. A sample calculation detailing how fiscal terms apply to a typical asset in the regime is included.
-Information on the top companies in the China Oil Markets Investment Opportunities, Market Analysis and Forecasts to 2020 including business description, strategic analysis, and financial information.
-Product and brand updates, strategy changes, R&D projects, corporate expansions and contractions and regulatory changes.
-Key mergers and acquisitions, partnerships, private equity and venture capital investments, and IPOs.
Reasons to buy
-Gain a strong understanding of the country's energy market.
-Facilitate market analysis and forecasting of future industry trends.
-Evaluate the attractiveness of the geography for oil investment in the light of government policies and the fiscal environment.
-Facilitate decision making on the basis of strong historic and forecast production, reserves and capacity data.
-Understand the geography's policies and fiscal terms, and their impact on contractor's profits from upstream oil assets.
-Assess your competitor's major crude oil assets and their performance.
-Analyze the latest news and financial deals in the oil sector of each country.
-Develop strategies based on the latest operational, financial, and regulatory events.
-Do deals with an understanding of how competitors are financed, and the mergers and partnerships that have shaped the market.
-Identify and analyze the strengths and weaknesses of the leading companies in the country.
Table of Contents
1 Table of Contents 2
1.1 List of Tables 9
1.2 List of Figures 12
2 China Energy Sector 13
2.1 China Energy Sector, Market Overview 13
2.2 China Energy Sector, Crude Oil 14
2.2.1 China Crude Oil, Overview 14
2.2.2 China Crude Oil, Supply and Demand Balance 14
2.2.3 China Crude Oil, Regulatory Structure 21
2.2.4 China Crude Oil, Infrastructure 22
3 China Fiscal Regime 23
3.1 China Petroleum Fiscal Environment 23
3.2 License Terms 24
3.3 Key Fiscal Terms 25
3.4 Sample Cashflows Calculations 30
4 China Oil Upstream Investment Environment Benchmarking 31
4.1 Introduction 31
4.2 The Overall Ranking 31
4.3 Upstream Fiscal Attractiveness 32
4.3.1 Maximum Government Take Index 33
4.3.2 Maximum State Participation 33
4.4 Oil Sector Performance 34
4.4.1 Exploration Activity 36
4.4.2 Oil Production 37
4.4.3 Oil Reserves 37
4.4.4 Oil Consumption 38
4.4.5 Refining Industry 38
4.5 Economic Performance 38
4.5.1 GDP Growth Index 40
4.5.2 FDI Confidence Index 40
4.5.3 Balance of Trade Index 41
4.6 Socio-Political Performance 41
4.6.1 Democracy Index 43
4.6.2 Governance Index 43
5 China Exploration and Production Sector 44
5.1 China Exploration and Production Sector, Country Snapshot 44
5.1.1 China Exploration and Production Sector, Key Data 44
5.1.2 China Exploration and Production Sector, Crude Oil Assets Map 44
5.2 China Exploration and Production Sector, Gross Crude Oil Production 45
5.2.1 China Exploration and Production Sector, Gross Crude Oil-Historical Production 45
5.2.2 China Exploration and Production Sector, Gross Crude Oil Production by Assets 46
5.2.3 China Exploration and Production Sector, Gross Equity Weighted Crude Oil Production by Company 47
5.2.4 China Exploration and Production Oil Sector, Market Share (%) based on Gross Equity Weighted Crude Oil Production 49
5.3 China Exploration and Production Sector, Gross Crude Oil Forecasts 50
5.3.1 China Exploration and Production Sector, Gross Crude Oil Forecasted Production 50
5.3.2 China Exploration and Production Sector, Gross Revenue Forecast 51
5.3.3 China Exploration and Production Sector, Government Take Forecast 52
5.3.4 China Exploration and Production Sector, Contractor Take Forecast 53
5.4 China Exploration And Production Sector, Crude Oil Asset Details 54
5.4.1 China Exploration And Production Sector, Active Crude Oil Asset Details 54
5.4.2 China Exploration And Production Sector, Planned Crude Oil Asset Details 55
6 China Pipeline Sector 56
6.1 China Pipeline Sector, Key Data 56
6.2 China Pipeline Sector, an Overview 56
6.3 China Pipeline Sector, Comparision of Key Crude Oil Pipeline Companies 56
6.4 China Pipeline Sector, Comparision of Key Petroleum Product Pipeline Companies 57
6.5 China Pipeline Sector, Crude Oil Pipelines 59
6.6 China Pipeline Sector, Petroleum Product Pipelines 61
7 China Refining Sector 62
7.1 China Refining Sector, Key Data 62
7.2 China Refining Sector, An Overview 62
7.2.1 China Refining Sector, Total Refining Capacity 62
7.3 China Refining Sector, Capacity- Wise Market Share by Company 64
7.4 China Refining Sector, Crude Distillation Unit Capacity 66
7.5 China Refining Sector, Coking Capacity 69
7.6 China Refining Sector, Fluid Catalytic Cracking Capacity 71
7.7 China Refining Sector, Hydrocracking Capacity 74
8 China Oil and Chemicals Storage Sector 75
8.1 China Oil and Chemicals Storage Sector, Key Data 75
8.2 China Oil and Chemicals Storage Sector, An Overview 75
8.2.1 China Oil and Chemicals Storage Sector, Total Storage Capacity 75
8.3 China Oil and Chemicals Storage Sector, Capacity-Wise Market Share By Company 77
8.4 China Oil and Chemicals Storage Sector, Storage Capacity 78
9 Profile of PetroChina Company Limited 82
9.1 PetroChina Company Limited, Key Information 82
9.2 PetroChina Company Limited, Company Overview 82
9.3 PetroChina Company Limited, Business Description 82
9.3.1 PetroChina Company Limited, Business Description, Business Overview 82
9.3.2 PetroChina Company Limited, Business Description, Chemicals and Marketing 83
9.3.3 PetroChina Company Limited, Business Description, Exploration and Production 84
9.3.4 PetroChina Company Limited, Business Description, Natural Gas and Pipeline 86
9.3.5 PetroChina Company Limited, Business Description, Refining and Marketing 87
9.3.6 PetroChina Company Limited, Business Description, Major Products and Services 89
9.4 PetroChina Company Limited, Value Chain Analysis 91
9.4.1 PetroChina Company Limited, Value Chain Analysis, Upstream 92
9.4.2 PetroChina Company Limited, Value Chain Analysis, Midstream 92
9.4.3 PetroChina Company Limited, Value Chain Analysis, Downstream 93
9.4.4 PetroChina Company Limited, Value Chain Analysis, Retail 93
9.5 PetroChina Company Limited, SWOT Analysis 94
9.5.1 PetroChina Company Limited, SWOT Analysis, Overview 94
9.5.2 PetroChina Company Limited, SWOT Analysis, Strengths 95
9.5.3 PetroChina Company Limited, SWOT Analysis, Weaknesses 96
9.5.4 PetroChina Company Limited, SWOT Analysis, Opportunities 97
9.5.5 PetroChina Company Limited, SWOT Analysis, Threats 99
9.6 PetroChina Company Limited, Revenue Analysis 99
9.6.1 PetroChina Company Limited, Revenue by Segment 100
9.6.2 PetroChina Company Limited, Revenue by Geography 100
9.7 PetroChina Company Limited, Financial and Operational Review 101
9.7.1 Financial Statements 101
9.7.2 Financial Ratios 102
10 Profile of China Petroleum & Chemical Corporation 103
10.1 China Petroleum & Chemical Corporation, Key Information 103
10.2 China Petroleum & Chemical Corporation, Company Overview 103
10.3 China Petroleum & Chemical Corporation, Business Description 103
10.3.1 China Petroleum & Chemical Corporation, Business Description, Business Overview 103
10.3.2 China Petroleum & Chemical Corporation, Business Description, Chemicals 104
10.3.3 China Petroleum & Chemical Corporation, Business Description, Exploration and Production 105
10.3.4 China Petroleum & Chemical Corporation, Business Description, Marketing and Distribution 107
10.3.5 China Petroleum & Chemical Corporation, Business Description, Refining 108
10.3.6 China Petroleum & Chemical Corporation, Business Description, Major Products and Services 109
10.4 China Petroleum & Chemical Corporation, Value Chain Analysis 111
10.4.1 China Petroleum & Chemical Corporation, Value Chain Analysis, Upstream 112
10.4.2 China Petroleum & Chemical Corporation, Value Chain Analysis, Midstream 112
10.4.3 China Petroleum & Chemical Corporation, Value Chain Analysis, Downstream 113
10.4.4 China Petroleum & Chemical Corporation, Value Chain Analysis, Retail 113
10.5 China Petroleum & Chemical Corporation, SWOT Analysis 114
10.5.1 China Petroleum & Chemical Corporation, SWOT Analysis, Overview 114
10.5.2 China Petroleum & Chemical Corporation, SWOT Analysis, Strengths 115
10.5.3 China Petroleum & Chemical Corporation, SWOT Analysis, Weaknesses 116
10.5.4 China Petroleum & Chemical Corporation, SWOT Analysis, Opportunities 116
10.5.5 China Petroleum & Chemical Corporation, SWOT Analysis, Threats 118
10.6 China Petroleum & Chemical Corporation, Revenue Analysis 119
10.6.1 China Petroleum & Chemical Corporation, Revenue by Segment 119
10.7 China Petroleum & Chemical Corporation, Financial and Operational Review 120
10.7.1 Financial Statements 120
10.7.2 Financial Ratios 121
11 Profile of CNOOC Limited 122
11.1 CNOOC Limited, Key Information 122
11.2 CNOOC Limited, Company Overview 122
11.3 CNOOC Limited, Business Description 122
11.3.1 CNOOC Limited, Business Description, Overview 122
11.3.2 CNOOC Limited, Business Description, Independent Operations 123
11.3.3 CNOOC Limited, Business Description, Production Sharing Contracts 123
11.3.4 CNOOC Limited, Business Description, Trading 124
11.3.5 CNOOC Limited, Business Description, Major Products and Services 125
11.4 CNOOC Limited, Value Chain Analysis 125
11.4.1 CNOOC Limited, Value Chain Analysis Upstream 126
11.5 CNOOC Limited, SWOT Analysis 127
11.5.1 CNOOC Limited, SWOT Analysis Overview 127
11.5.2 CNOOC Limited, SWOT Analysis Strengths 128
11.5.3 CNOOC Limited, SWOT Analysis Weaknesses 129
11.5.4 CNOOC Limited, SWOT Analysis, Opportunities 130
11.5.5 CNOOC Limited, SWOT Analysis, Threats 132
11.6 CNOOC Limited, Revenue Analysis 133
11.7 CNOOC Limited, Revenue by Segment 133
11.8 Revenue by Geography 134
11.9 CNOOC Limited, Financial and Operational Review 135
11.9.1 Financial Statements 135
11.9.2 Financial Ratios 136
12 Financial Deals Landscape 137
12.1 Detailed Deal Summary 137
12.1.1 Acquisition 137
12.1.2 Debt Offerings 143
12.1.3 Partnerships 146
12.1.4 Asset Transactions 157
13 Recent Developments 161
13.1 License Awards 161
13.1.1 Mar 09, 2009: PetroChina Receives Approval To Build LNG Terminal In Shenzhen 161
13.2 Strategy and Business Expansion 161
13.2.1 Apr 01, 2009: Sinopec To Construct Four Oil Storage Bases 161
13.2.2 Mar 31, 2009: Sinopec Plans To Expand Refining Capacity By 2010 161
13.2.3 Mar 20, 2009: Total Plans To Start Refining And Petrochemicals Projects In China 162
13.2.4 Mar 19, 2009: PetroChina Plans To Increase Overseas Oil And Gas Production Operations 163
13.3 Recent Discoveries 164
13.3.1 Mar 26, 2009: CNOOC Announces Two New Discoveries In Bohai Bay, China 164
13.4 Drilling and Production Updates 164
13.4.1 Mar 24, 2009: Sinopec Processes 3.29 Million Bpd Of Crude Oil In January And February 2009 164
13.4.2 Mar 20, 2009: CNOOC Commences Huizhou Refinery In China 165
13.4.3 Mar 19, 2009: CNPC To Raise Overseas Oil, Gas Production In Next 10 Years 165
13.4.4 Mar 18, 2009: CNOOC Commences Production From PY 30-1 Gas Field At Pearl River Mouth Basin In Eastern South China Sea 166
13.4.5 Mar 12, 2009: Anadarko Petroleum Plans To Drill Exploration Wells In Indonesia And China 166
13.5 Financial Announcements 167
13.5.1 Mar 30, 2009: Sinopec Reports Net Profit Of CNY29.7 Billion For Year-End 2008 167
13.5.2 Mar 25, 2009: PetroChina Reports Turnover Of CNY1.1 Trillion For Year-End 2008 170
13.5.3 Mar 16, 2009: China Natural Gas Reports 2008 Results 172
13.6 Other Significant Developments 175
13.6.1 Apr 01, 2009: CNOOC To Invest CNY44.2 Billion For Expansion Of Huizhou Refinery, China 175
13.6.2 Mar 31, 2009: PetroChina Commences Operations On China Lanzhou-Zhengzhou Oil Pipeline 175
13.6.3 Mar 27, 2009: Sinopec's Commercial Oil Reserve Base In Shanghai Comes Into Operation 176
13.6.4 Mar 27, 2009: China Natural Gas Announces Resignation Of Richard Wu As Chief Financial Officer 177
13.6.5 Mar 26, 2009: China To Encourage Its Energy Firms For More Ventures Overseas 177
13.6.6 Mar 24, 2009: Uruguay Calls Chinese Firms To Bid In Its Oil, Gas Round 178
13.6.7 Mar 23, 2009: PetroChina Xinjiang To Increase Oil Storage Capacity By 60% 179
13.6.8 Mar 20, 2009: Sinopec's Phase I Sichuan-To-East Pipeline Project To Commence In May 2009 180
13.6.9 Mar 19, 2009: Venezuela Starts Construction Of Venezuelan-Chinese Oil Refinery: President Chavez Says 180
13.6.10 Mar 17, 2009: CNOOC Commences Trial Run On Huizhou Refinery In China 180
13.6.11 Mar 14, 2009: Iran, China Sign $3.3 Billion Agreement For South Pars Gas Field 181
13.6.12 Mar 12, 2009: China's Crude Oil Output Drops By 1.7% In January And February 2009 181
13.6.13 Mar 11, 2009: CNPC To Reduce Investment In Oil And Gas Exploration In 2009 182
13.6.14 Mar 09, 2009: CNPC Commences Preliminary Work On Third West-East Gas Pipeline 182
13.7 New Contracts Announcements 183
13.7.1 Mar 26, 2009: China Natural Gas Signs Power Supply Agreement For LNG Plant 183
14 Appendix 184
14.1 Methodology 184
14.1.1 Coverage 185
14.1.2 Secondary Research 186
14.1.3 Primary Research 186
14.1.4 E&P Forecasts 186
14.1.5 Midstream Forecasts 188
14.1.6 Expert Panel Validation 188
14.2 Contact Us 188
14.3 About GlobalData 189
14.4 Disclaimer 189
1.1 List of Tables
Table 1: China, Historical and Forecasted Production and Consumption of Crude Oil, 1996-2020 15
Table 2: China, Historical and Forecasted Imports and Exports of Crude Oil, 1996-2020 18
Table 3: China, Historical and Forecasted Reserves of Crude Oil, 1996-2008 20
Table 4: China, Crude Oil and Natural Gas, Onshore Relinquishment Requirement, 2007 24
Table 5: China, Crude Oil and Natural Gas, Offshore Relinquishment Requirement, 2007 25
Table 6: China, Crude Oil, Royalty Rate, 2007 26
Table 7: China, Natural Gas, Royalty Rate, 2007 26
Table 8: China, Natural Gas, Profit Gas, 2007 27
Table 9: China, Crude Oil, Profit Oil, 2007 28
Table 10: China, Rate of Depreciation, 2007 28
Table 11: South Asia, Investment Benchmarking, Overall Country Rankings, April 2008 31
Table 12: South Asia, Investment Benchmarking, Upstream Fiscal Attractiveness, April 2008 32
Table 13: South Asia, Investment Benchmarking, Oil Sector Performance, April 2008 34
Table 14: South Asia, Investment Benchmarking, Economic Performance, April 2008 39
Table 15: South Asia, Country Standings, Economic Performance, April 2008 39
Table 16: South Asia, Investment Benchmarking, Socio-Political Performance, April 2008 41
Table 17: South Asia, Country Standings, Socio-Political Performance, April 2008 42
Table 18: China, Crude Oil Key Statistics, 2008 44
Table 19: China, Total Gross Crude Oil Production (MMBBLs), 2001-2008 45
Table 20: China, Gross Crude Oil Production (MMBBLs), by Assets, 2001-2008 46
Table 21: China, Gross Equity Weighted Crude Oil Production (MMBBLs), by Company, 2001-2008 47
Table 22: China, Market Share (%) based on Gross Equity Weighted Crude Oil Production, 2001-2008 49
Table 23: China, Gross Crude Oil Production (MMBBLs), Forecast by Assets, 2009-2014 50
Table 24: China, Forecasted Assets-wise Gross Revenue (000'$), 2009-2014 51
Table 25: China, Projected Assets-wise Total Government Take (000'$), 2009-2014 52
Table 26: China, Projected Assets-wise Total Contractor Take (000'$), 2009-2014 53
Table 27: China, Active Oil Field Assets Details 54
Table 28: China, Planned Oil Field Assets Details 55
Table 29: China, Pipeline Key Statistics, 2008 56
Table 30: China, Crude Oil Pipeline Length by Company (Km), 2008 56
Table 31: China, Petroleum Product Pipeline Length by Company (Km), 2008 57
Table 32: China, Crude Oil Pipelines, 2008 59
Table 33: China, Crude Oil Pipelines, 2008 (Contd.) 60
Table 34: China, Petroleum Product Pipelines, 2008 61
Table 35: China, Refinery Key Statistics, 2008 62
Table 36: China, Total Refining Capacity (MMTPA), 2000- 2013 62
Table 37: China, Refining Capacity Company-wise (MMTPA), 2000-2013 64
Table 38: China, Crude Distillation Unit Capacity (MMTPA), 2000-2013 66
Table 39: China, Crude Distillation Unit Capacity (MMTPA), 2000-2013 (contd..) 67
Table 40: China, Crude Distillation Unit Capacity (MMTPA), 2000-2013 (contd..) 68
Table 41: China, Coking Unit Capacity (MMTPA), 2000-2013 69
Table 42: China, Coking Unit Capacity (MMTPA), 2000-2013 (contd..) 70
Table 43: China, Fluid Catalytic Cracking Unit Capacity (MMTPA), 2000-2013 71
Table 44: China, Fluid Catalytic Cracking Unit Capacity (MMTPA), 2000-2013 (contd..) 72
Table 45: China, Fluid Catalytic Cracking Unit Capacity (MMTPA), 2000-2013(contd..) 73
Table 46: China, Hydrocracking Unit Capacity (MMTPA), 2000-2013 74
Table 47: China, Oil Storage Key Statistics, 2008 75
Table 48: China, Total Oil and Chemicals Storage Capacity (Thousand M3), 2000- 2013 75
Table 49: China, Oil and Chemicals Storage Capacity Company-wise (Thousand M3), 2000-2013 77
