China's oil production growing slower than demand
China reached production of 3.6 million b/d of oil, 50 billion cu m of natural gas, and 5.8 million b/d of refining capacity by 2005, Facts Global Energy Group (FGE) reported in a May research paper.
By OGJ editors
HOUSTON, May 16 -- China reached production of 3.6 million b/d of oil, 50 billion cu m of natural gas, and 5.8 million b/d of refining capacity by 2005, Facts Global Energy Group (FGE) reported in a May research paper. The group includes Fesharaki Associates Consulting & Technical Services Inc. (FACTS) of Honolulu.
China's 2000 crude oil output was 3.24 million b/d, and its natural gas output that year was 27.7 billion cu m. Refining capacity was 4.2 million b/d for 2000.
The FGE paper reviewed China's petroleum and gas production during the nation's 10th 5-year plan. During the 10th 5-year plan, China's added proved oil reserves increased to 34.8 billion bbl compared with 26.7 billion bbl for the 9th 5-year plan. The Asian giant's proved gas reserves increased to 2.5 trillion cu m by 2005 compared with 1.2 trillion cu m in 2000.
During 2000-05, China's oil consumption grew much faster than its oil production. Exports for oil decreased because of domestic oil demand growth.
China's crude oil imports increased to 2.54 million b/d in 2005 compared with 1.4 million b/d in 2000. Meanwhile, China's crude oil exports decreased to 161,300 b/d in 2005 compared with 205,600 in 2000.
The Middle East has been the largest source for China's import, with the nation receiving more than 50% of its total imports from that region. During the last 5 years, China began to diversify its import sources for crude oil. The share of imports from Africa increased to 30.3% from 22.7%. China's share of imports from Europe increased to 11.5% from 5.6%.
China's production of refined products also grew. Its output of gasoline increased to 1.26 million b/d in 2005 from 960,200 b/d in 2000. Its kerosene production increased to 214,000 b/d in 2005 compared with 188,300 b/d in 2000, FGE said.
Diesel output was 2.3 million b/d in 2005 compared with 1.4 million b/d in 2000. Its fuel oil production was 415,100 b/d in 2005 compared with 376,000 b/d in 2000.
China's exports of refined products continued to increase as well. The nation was a net exporter of gasoline and diesel, and a net importer of kerosene and fuel oil.
The refining sector accounted for 95.9% of total crude oil use. The transportation sector (including storage and postal services) accounted for about 50% of total consumption and was the largest consumer of refined products.
The industrial sector was the second largest consumer of refined products in China. Both the industrial and power-generation sectors were China's main consumers of fuel oil, FGE said.