FGE's China Oil Service provides clients with a comprehensive understanding of the key aspects of the sector developments, refining business, and oil markets in China.
China is currently at a critical juncture. It faces both opportunities and challenges as the second largest oil market in the world. Domestic oil production in China is far from being sufficient to meet its refining needs and demand for petroleum products. In addition, China is also building up its own inventory, including strategic petroleum reserves (SPRs), at fast speeds. As a result, imports of crude oil, along with selected refined products are growing. In the meantime, China has a huge refining sector and is a growing exporter of key refined products such as diesel, gasoline, and jet fuel. As China is opening up various segments of its oil business, the interactions between China and the rest of the world have grown stronger.