Home>News Center>Bizchina
       
 

Fuel oil imports expected to fall 14%
By Wang Ying (China Daily)
Updated: 2005-12-13 06:39

Fuel oil imports, which supply more than half of China's domestic oil needs, are expected to fall 14 per cent this year, in contrast with an 18 per cent increase last year.

This is due to the government's macro-controls over the last year to cool down the over-heated economy, as well as the surging oil prices, which are helping to harness the domestic demand for oil, industry insiders yesterday told China Daily.

China, the world's second-biggest energy consumer after the United States, will likely buy some 24 million tons of fuel oil from foreign sellers this year, down from last year's 28 million tons, Gong Jinshuang, a senior analyst for domestic oil market with the China National Petroleum Corp (CNPC), said.

CNPC's Hong Kong-listed subsidiary PetroChina is the country's biggest oil producer and one of the largest suppliers of fuel oil along with Sinopec.

The country's domestic consumption of fuel oil, a kind of refined oil used by utilities and ships to drive turbines, is expected to reach 47 million tons, compared with last year's 49.56 million tons, industry sources said.

"The import decline mainly results from the soaring oil prices over the past year, which adds to the market risks and leaves the country's fuel oil importers cautious about increasing import business," Chen Xilin, chairman of Guangzhou Twinace Petroleum & Chemicals Co Ltd (Twinace), said yesterday.

Chen made the remarks in an exclusive interview with China Daily yesterday on the sidelines of the Economic Development Forum of China's Independent Petroleum Industry, marking the one-year anniversary of the country's first consortium for private oil firms.

Oil-fired power plants, concentrated in South China's Guangdong Province, have been reluctant to continue their business using fuel oil, as fuel oil prices have almost doubled over the past year while the electricity price has been kept at a fixed level by the government.

The FOB (Free On Board) price of fuel oil in Singapore reached US$299 per ton yesterday, up from January's US$171 per ton, Chen said.

Twinace is the country's biggest independent oil company dealing with fuel oil imports. It imported 3 million tons of fuel oil last year, from Japan, South Korea, the United States and Middle East nations. The figure is expected to fall 17 per cent to 2.5 million tons this year.

The biggest consumers of fuel oil are the oil-fuelled power plants, which use more than 30 per cent of the nation's total consumption, with other consumers to include small refineries producing low-quality diesel and the petrochemical producers.

CNPC's Gong attributed the central government's macro policy to slow down the over-heated economy to the fuel oil import decline, saying that the policy has succeeded in reducing the demand for oil products.

(China Daily 12/13/2005 page10)



 
  Story Tools  
   
Manufacturers, Exporters, Wholesalers - Global trade starts here.
Advertisement
         
主站蜘蛛池模板: 国产午夜精品1区2区3福利| 成年网站免费观看| 亚洲系列国产精品制服丝袜第| 色噜噜狠狠狠狠色综合久一| 国产成人精品免费视频大全可播放的| 67194av| 天天av天天翘天天综合网| 中国一级特黄高清免费的大片中国一级黄色片| 日韩人妻精品一区二区三区视频| 亚洲人成电影院| 欧美日韩在线国产| 亚洲精品白色在线发布| jizz之18| 成全动漫视频在线观看免费播放| 久久国产精品范冰啊| 最近日本免费观看直播| 亚洲国产婷婷综合在线精品| 欧美高清在线视频在线99精品| 体育生开房互操| 粗大的内捧猛烈进出小视频 | 国产对白在线观看| 亚洲毛片基地4455ww| 国产精品无码久久av不卡| 91精品免费不卡在线观看| 在线观看视频中文字幕| av无码精品一区二区三区四区| 小屁孩cao大人免费网站| 中出五十路免费视频| 房客(糙汉)何璐程曜坤| 久久99精品久久久久久| 日本b站一卡二不卡三卡四卡| 久久午夜国产片| 日本猛少妇色xxxxx猛交| 久久精品国产91久久综合麻豆自制| 最新版天堂资源官网| 乱人伦中文字幕在线不卡网站| 最近免费中文字幕大全高清大全1| 亚洲五月激情网| 欧美午夜精品久久久久免费视| 亚洲国产成AV人天堂无码| 欧美妈妈的朋友|