China Energy Data Report (2021) – Oil
China Energy Data Report (2021) was launched recently, marking the sixth consecutive year that China Energy Information Research Center has published a report on China’s energy data.
The report describes China’s energy development with a large number of charts and data (available in the Chinese version of this article)
Here presents a summary of the third chapter.
Crude oil supply and demand
01 Oil consumption increased steadily
02 Crude oil production continues to recover
03 Crude oil imports grew rapidly
Supply and demand of refined oil products
01 The difference between production and demand of refined oil products narrowed
02 The export pressure of refined oil is increasing
03 The adjustment of refined oil price has made
Petroleum storage and transportation
Oil policy
01 Open the oil and gas exploration and exploitation market to the full extend
02 The Resource Tax Law was formally implemented to reduce and exempt oil and gas resource tax
03 The entry threshold of the industry of the petroleum products was lowered comprehensively
04 The export rights of the refined petroleum products were given to the industry again