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Petroleum refining industry in China

Author

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  • W. D. Walls

    (University of Calgary)

Abstract

The oil refining industry in China has faced rapid growth in oil imports of increasingly sour grades of crude with which to satisfy growing domestic demand for a slate of lighter and cleaner finished products sold at subsidized prices. At the same time, the world petroleum refining industry has been moving from one that serves primarily local and regional markets to one that serves global markets for finished products, as world refining capacity utilization has increased. Globally, refined product markets are likely to experience continued globalization until refining investments significantly expand capacity in key demand regions. We survey the oil refining industry in China in the context of the world market for heterogeneous crude oils and growing world trade in refined petroleum products.

Suggested Citation

  • W. D. Walls, "undated". "Petroleum refining industry in China," Working Papers 2014-61, Department of Economics, University of Calgary, revised 23 Sep 2014.
    • Handle: RePEc:clg:wpaper:2014-61
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    2. Hao, Han & Liu, Feiqi & Liu, Zongwei & Zhao, Fuquan, 2016. "Compression ignition of low-octane gasoline: Life cycle energy consumption and greenhouse gas emissions," Applied Energy, Elsevier, vol. 181(C), pages 391-398.
    3. Li, Sisi & Khan, Sufyan Ullah & Yao, Yao & Chen, George S. & Zhang, Lin & Salim, Ruhul & Huo, Jiaying, 2022. "Estimating the long-run crude oil demand function of China: Some new evidence and policy options," Energy Policy, Elsevier, vol. 170(C).
    4. Liu, Xiaoyu & Chen, Dingjiang & Zhang, Wenjun & Qin, Weizhong & Zhou, Wenji & Qiu, Tong & Zhu, Bing, 2013. "An assessment of the energy-saving potential in China's petroleum refining industry from a technical perspective," Energy, Elsevier, vol. 59(C), pages 38-49.
    5. Hui Li & Kangyin Dong & Renjin Sun & Jintao Yu & Jinhong Xu, 2017. "Sustainability Assessment of Refining Enterprises Using a DEA-Based Model," Sustainability, MDPI, vol. 9(4), pages 1-15, April.
    6. Li, Weiqi & Fu, Feng & Ma, Linwei & Liu, Pei & Li, Zheng & Dai, Yaping, 2013. "A process-based model for estimating the well-to-tank cost of gasoline and diesel in China," Applied Energy, Elsevier, vol. 102(C), pages 718-725.
    7. Ma, Linwei & Fu, Feng & Li, Zheng & Liu, Pei, 2012. "Oil development in China: Current status and future trends," Energy Policy, Elsevier, vol. 45(C), pages 43-53.
    8. Pan, Lingying & Liu, Pei & Li, Zheng, 2018. "A discussion on China's vehicle fuel policy: Based on the development route optimization of refining industry," Energy Policy, Elsevier, vol. 114(C), pages 403-412.
    9. Pan, Lingying & Liu, Pei & Li, Zheng, 2017. "A system dynamic analysis of China’s oil supply chain: Over-capacity and energy security issues," Applied Energy, Elsevier, vol. 188(C), pages 508-520.
    10. Zhao, Chunfu & Chen, Bin, 2014. "China’s oil security from the supply chain perspective: A review," Applied Energy, Elsevier, vol. 136(C), pages 269-279.

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