News and analysis on oil markets, policy and infrastructure Volume XII, 1 EDITORIAL: Regional gasoline markets are so far unmoved by a potential fall in Chinese exports owing to stricter tax enforcement Mixed aromatics imports 2017 000 b/d Asia-Pacific 130.84 Mideast Gulf 22.59 Contents US 4.39 Europe 77.69 High stocks pressure demand 2 Surplus ends gasoline boom hopes 3 Technology key to tax crackdown 4 Export quotas adjust to new policy 5 Non-state import quota swells 6 Refiners turn to Mideast producers 7 Expansions drive storage growth 8 PdV woes raise Jieyang concerns 9 Company restructuring continues 10 China turns to LNG amid shortages 11 Products 12-16 Crude data 17-27 Refinery throughputs 28-30 Import/export data 31-44 Yuan for the road The desire to avoid tax has been a far more significant factor underlying imports of mixed aromatics than China s octane deficit. The government has announced plans to make it impossible to buy or sell gasoline without producing a complete invoice chain showing that consumption tax has been paid, from 1 March. And gasoline refining margins shot to nearly $20/bl, their highest since mid-2015. Of course, Beijing has tried to stamp out tax evasion in the gasoline market many times before. But, if successful, this poses an existential threat to trading companies and the blending firms that use mixed aromatics to produce gasoline outside the refining system, largely avoiding the Yn2,722/t ($51/bl) tax collected on gasoline produced by refineries. Around 300,000 b/d of gasoline is produced this way. And that has caused the surplus that forces state-owned firms to market their costlier fuel overseas. But there is little panic outside south China, where most blending takes place. The Singapore market is discounting any threat that a crackdown on tax avoidance might choke off Chinese exports gasoline crack spreads fell this month. China s prices are now above those in Singapore, yet its gasoline exports show no sign of letting up. Most of China s mixed aromatics come from Asia-Pacific, where refineries are running flat out. Supply from European refineries is shrinking (see chart). China has long had an octane shortage, partly because its manufacturing sector absorbs so much naphtha. The problem became more acute with the introduction of the China 5 gasoline standard, which cut manganese and sulphur content, further lowering the octane rating of gasoline. But China s resilience to a halt in mixed aromatics imports has vastly improved in the past 18 months. Were China to halt imports of mixed aromatics from March and loadings data suggest this may well happen its new fleet of naphtha reformers should forestall any domestic fuel supply crisis. Refiners have been adding butane-fed alkylation and isomerisation units, too, producing still more high-octane components for the gasoline pool. And local governments are stepping up their scrutiny of ethanol blending in gasoline, which will also mitigate the octane shortfall. China imported around 200,000 b/d of mixed aromatics with an octane rating of around 99 last year. But, over the course of 2017, refiners opened 250,000 b/d of naphtha reforming capacity more than enough to replace those imports. Money matters The devil will, as ever, be in the detail. Blending firms are hunting for loopholes. The central government will need co-operation from local administrations to ensure that the invoice system is strictly enforced and officials are not paid to turn a blind eye. One way of achieving this would be to allow revenue-starved provinces to keep some or all of the consumption tax revenue they collect, rather than remitting it to the centre. Beijing is wary that this would further skew the imbalance between wealthy regions, where car ownership is highest, and poorer ones in which vehicle penetration is relatively slight. But the central government should set aside these concerns. It would be relatively straightforward to redistribute tax revenue from other sources collected centrally. But it is likely to prove impossible to collect consumption taxes unless provincial bureaucrats climb on board.
demand Crude output fell back to October levels, which were the lowest since the 2009 financial crisis Shandong crude balance mn bl Shandong bonded crude stocks (LHS) mn b/d 18 Shandong crude imports (RHS) 3.6 16 3.4 3.2 14 3 12 2.8 10 2.6 2.4 8 2.2 6 2 Jan Apr Jul Oct Jan 17 18 Mixed aromatics imports 000 b/d 450 400 350 300 250 200 150 100 50 0 Oct Jan Apr Jul Oct Jan Apr Jul Oct 15 16 17 China apparent demand mn b/d Dec Nov 2017 ±% 17/16 Net imports 8.33 9.20 8.95 11.1 Crude 7.92 8.85 8.33 9.7 Products 0.41 0.35 0.62 28.2 Production 3.71 3.77 3.78-3.6 Apparent demand 12.04 12.97 12.74 6.3 Refinery runs 11.56 12.03 11.33 5.7 High stocks pressure December demand Chinese apparent oil demand fell last month as refiners digested high stocks. But demand growth over the whole year was nearly double that of 2016. Apparent oil demand, the sum of crude production and net oil imports, fell to 12.04mn b/d in December from nearly 13mn b/d in the previous month, and averaged 12.7mn b/d for the year. Crude output last month fell back to October levels, which were the lowest since the 2009 financial crisis. Dominant upstream firm PetroChina hopes to revive production this year, but it is unclear how realistic this will be. But demand last year grew by 6.3pc from 2016 levels, with rising imports more than offsetting declining crude production (see table). December crude imports were down by 900,000 b/d with Shandong province, centre of the country s independent refining sector, accounting for 35pc of the decline. Liaoning, where another two large independents, Huajin and Panjin Northern Asphalt, are based, also cut imports in December, mainly from Iraq and Oman. And imports to Fujian on the southeast coast fell by a hefty 230,000 b/d from November levels, as state-owned Sinochem carried out maintenance at its 240,000 b/d Quanzhou refinery. Quanzhou has reopened this month. Iraq accounted for the most precipitous decline in supply month on month, more than halving to 470,000 b/d. This comparison is skewed by record receipts of more than 1mn b/d in the previous month. Kuwaiti deliveries to south China also fell. Guangdong province, dominated by state-controlled Sinopec s refineries, cut imports of heavy sweet grades by around 150,000 b/d month on month, with imports from Angola declining by 100,000 b/d, but increased imports of medium sour crude by 230,000 b/d. Deliveries of Venezuelan crude to Guangdong province rose by 90,000 b/d to nearly 500,000 b/d in December, despite Venezuelan production problems. The concertina effect Crude stocks in bonded storage tank farms around Shandong s coastline, where trading companies hold crude before selling it on to independents, fell from over 17mn bl in October, when many refiners were close to exhausting their import quotas, to 13.8mn bl last month. Tight diesel supplies and a spike in gasoline margins encouraged crude buying last month. But port stocks began to tick higher again this month, reflecting both December s lower imports and a drop in withdrawals by refiners (see graph). Diesel margins are coming down, and gasoline has retreated from its highs. These factors, as well as the closure of many businesses for the lunar new year public holidays from 15 February, are likely to drive crude runs lower next month. And that should cause bonded crude stocks to rebuild, with vessel tracking data indicating a substantial increase in January deliveries. China s net oil product imports rose to 410,000 b/d last month, boosted by record imports of mixed aromatics. Many gasoline blending companies feared that the government would ban the use of untaxed mixed aromatics in gasoline production from 1 January, and maximised imports last month to get blendstocks in ahead of the ban. Imports last reached comparable levels in April last year, when rumours of a ban on mixed aromatics first surfaced. Beijing subsequently confirmed that the new gasoline invoicing system will come into effect from 1 March. South China is now awash with mixed aromatics, traders say. The arrival of so much in December added pressure to gasoline margins and kept exports high. State-run refiners also exported large amounts of ultra-low sulphur diesel last month, boosting domestic prices. Combined gasoline, diesel and jet fuel exports set a fresh record of 1.2mn b/d in December. Page 2 of 46
PRODUCTS Independent refinery utilisation rates are starting to fall, in response to weakness in gasoline Shandong arbitrage $/bl 25 20 15 10 5 0 Dec DQD differential to Ice Brent $/bl 4.00 3.50 3.00 2.50 2.00 1.50 1.00 0.50 PRD gasoil premium to Shandong PRD gasoline premium to Shandong ESPO Blend DQD Djeno DQD Lula DQD Ice Brent = 0 PRD = Pearl river delta Jan 0.00 Jan Apr Jul Oct Jan 17 18 Shandong independent refiners may import more this month than in December Surplus dashes gasoline boom hopes China s independent refiners are slashing product prices and cutting runs to maintain their competitiveness with state-owned refining companies. Gasoline refining margins rose strongly this month after the government announced plans for a supposedly foolproof system of logging tax invoices that may make it uneconomic to use imported mixed aromatics as a blendstock. The move is chiefly aimed at gasoline blending companies in south China, but refiners in Shandong fear it will also increase their consumption tax payments. High refinery gasoline stocks soon put a halt to the market rally. Prices for 92 Ron gasoline rose to Yn7,050/t ($85/bl before tax) on 15 January from Yn6,200/t just days earlier, but fell to Yn6,950/t on 22 January. Diesel margins, the stellar performer last year, fell by nearly $12/bl from December to around $14/bl in Shandong this month. Diesel s recent strength encouraged Shandong independents to run hard, producing large amounts of gasoline that have proved harder to sell. And the outlook for fuel margins in Shandong is weaker this year, after China s ministry of commerce (MOC) increased the allowance for so-called non-state crude import rights by 1mn b/d in 2018. This is expected to lead to steep growth in imports and refining in the province. But independents are still well supplied with feedstocks, and have cut imports after a surge last year. Shandong imported 2.6mn b/d of crude in December, down from 2.9mn b/d in November. Shandong s independent sector has also being threatened by a rise in crude runs by state-owned refiners this month. Independents slashed product prices in response, leading to an increase in north-to-south product flows (see graph). This, in turn, is forcing state-owned refiners to export their surpluses. CNOOC, which has a 70,000 b/d gasoline export quota, aims to export at least 20,000 b/d of gasoline next month from its 440,000 b/d Huizhou refinery on the south coast. Still going strong But Shandong refiners continue to snap up crude. Imports to the province in January are expected to increase from December. Bids for spot crude cargoes are also higher on a des Qingdao (DQD) basis this month (see graph). March-delivery Brazilian Lula crude traded above competing Congolese heavy sweet Djeno, at $2.50/bl premiums to Ice Brent. And DQD premiums for the independents staple, Russian light sweet ESPO Blend, are trading at $3.40/bl for February-March delivery, the highest since Argus assessments began in January 2017. Independent firm CEFC is taking over some Trafigura loadings of ESPO Blend crude this month, as part of a deal in which CEFC acquired a 12.2pc stake in Russian state-controlled Rosneft. CEFC will load two cargoes of ESPO Blend and two Sokol cargoes this month. Djeno DQD premiums have dipped below $2/bl. Strong Chinese demand for west African crude last year helped underpin the strength of Atlantic basin crude prices. But Chinese buyers are now discounting cargoes after a surge in arrivals. Vessel tracking data suggest that 190,000 b/d of Djeno arrived in Shandong in the fourth quarter, and 210,000 b/d may arrive this month. Russian medium sour Urals has become far less attractive on a delivered China basis because of the strength of underlying marker North Sea Dated. Vessel tracking data show no Urals deliveries to Shandong this month and other sour grades filling the gap. Oman crude changed hands this month at 20 /bl below Ice Brent. Around 170,000 b/d of Nemina crude, a sour blend produced at storage tanks in Malaysia specifically for the Shandong market, will arrive this month. And independent refiners Wonfull and Shouguang Luqing have bought Saldanha Blend, a sour grade produced by trading firm Mercuria at storage tanks in South Africa. Page 3 of 46
DOWNSTREAM Trading firms fear the government s latest effort to crack down on the use of untaxed blendstocks might succeed Mixed aromatics loadings: Europe-China 000 b/d 80 70 60 50 40 30 20 10 0 2016 2017 2018 The new rules are expected to stamp out ghost trades, where invoices are issued for deals that never took place Technology key to SAT tax clampdown China s state administration of taxation (SAT) has launched a new effort to stamp out the use of untaxed blendstocks in the production of gasoline and other fuels. This has alarmed importers of mixed aromatics and pushed gasoline prices higher. Pre-tax spot gasoline prices in south China s Pearl river delta market have risen by $2.10/bl to $79.70/bl following the SAT announcement. Pre-tax spot diesel prices in the same market have risen by 30 /bl to $107.10/bl. The price of mixed aromatics in the south China market has also risen, by $2/bl since the announcement, to Yn5,900/t ($116/bl). Beijing has long sought to end widespread tax evasion in gasoline production, but has not been successful. It was expected to expand the range of products subject to the Yn2,110/t consumption tax on gasoline by including mixed aromatics, based on the HS code used to describe it as it enters Chinese ports. This was considered flawed and an alternative proposal, due to come into effect on 1 March, aims to tighten up all aspects of the invoice chain, making it impossible for untaxed products such as mixed aromatics and light cycle-oil to enter the fuel market. This will affect the invoicing of sales and purchases of gasoline, gasoil, jet fuel, naphtha, solvents, lubricants and fuel oil. Trading firms could previously issue invoices for sales of products they had not yet bought, and then buy the products. From 1 March, they can only sell product once they have logged all the details from their purchase invoices with a new online SAT module operated by the local tax office. That will allow the trading firm to issue a sales invoice. The new platform is like a fictitious tank, one local trader says. The stocks represent the invoices you get from the sellers, and then you can issue your own invoices for cargoes you bought or imported. The previous system could trace and monitor only part of the transaction chain, and was unable to prevent sellers from issuing invoices. This led to the issuance of many fake invoices showing that tax had been paid. Sellers must include details for each cargo for which they want to issue an invoice, including its category and specific code. The total number of each product s invoices to be issued should not exceed the combined volumes that have been confirmed as supplied through the platform based on the documents submitted by the sellers. The system will only recognise invoices that specify the purchased volume and attach tax-paid certificates issued by customs for imports. The new rules are expected to make it almost impossible for trading firms to obtain invoices for gasoline, diesel or fuel oil produced from untaxed products such as mixed aromatics, alkylates, light cycle oil and bitumen. Ghostbusters The move is expected to stamp out ghost trades, where invoices are issued for deals that never took place. This will force companies currently trading blended gasoline to pay the full consumption tax. And it will make it almost impossible for independent refineries to obtain invoices showing that the crude or diluted bitumen they refined was fuel oil, ending a practice where many claimed consumption tax rebates on feedstocks. This has allowed many independents to sell refined products more cheaply than conventional refiners. But the marketing arms of state-owned oil giants have been major beneficiaries too, finding it cheaper to procure third-party fuel supplies than buy from their associated refining arms. Mixed aromatics imports rose to 200,000 b/d in November from 90,000 b/d in October, customs data show. They are expected to have hit 250,000 b/d last month, amid rising Brent prices. Most mixed aromatics trades are indexed to Ice Brent, which settled at $68.82/bl on 9 January, up by $6.62/bl on a month earlier. Page 4 of 46
EXPORTS A rise in Chinese exports could put pressure on margins in Asia-Pacific but help avoid a domestic transport fuel glut Oil product export quotas* China: Oil product export quotas* mn b/d 2.0 1.8 1.6 1.4 1.2 1.0 0.8 0.6 0.4 0.2 0.0 Naphtha Gasoline Jet Diesel 000 b/d Diesel Jet Gasoline Naphtha 1Q16 660 714 430 0 2Q16 468 463 319 9 3Q16 170 106 248 5 4Q16 355 84 96 30 1Q17 472 310 353 0 2Q17 108 220 73 0 3Q17 499 500 309 0 4Q17 387 176 292 0 1Q18 589 548 622 0 *combines third-party processing and general *Combines tolling and general 1Q16 2Q16 3Q16 4Q16 1Q17 2Q17 3Q17 4Q17 1Q18 No independent refiners have been granted first-quarter export quotas, either for third-party processing deals or general trade Quotas adjust to new policy direction The government is softening its goal of reining in exports, with the issuance of extra export quotas signalling a rise in overseas sales of clean products this year. China s ministry of commerce (MOC) has issued 1.76mn b/d of export quotas for the first quarter, up by 55pc from January-March last year (see table). Exports of gasoline, diesel and jet will need to average a combined 1mn b/d this year to avert a domestic transport fuel glut, according to a report this month from the research arm of PetroChina s parent company, CNPC. Gasoline accounts for the largest year-on-year increase in quota issuance so far, with oil firms allowed to market an extra 270,000 b/d overseas than they were in the first quarter of last year. PetroChina s trading arm, ChinaOil, is the main recipient of gasoline export quotas, while Sinopec has received the lion s share of the middle distillate allowance 410,000 b/d of jet and 300,000 b/d of diesel. Sinochem and CNOOC, which run large conventional refineries in south China, have been awarded a combined 340,000 b/d of export quotas. The MOC has increased CNOOC s allowance by 90,000 b/d after it opened a new crude unit at its newly expanded 440,000 b/d Huizhou refinery. Almost all of China s gasoline exports remain in Asia-Pacific, so a substantial increase is likely to put pressure on margins in the region. Gasoline crack spreads in Singapore have already weakened sharply this year. Actual exports may fall short of the cap set by the MOC s quotas if proposals to eliminate the production of untaxed gasoline largely from imported mixed aromatics prove effective. This risks tightening domestic gasoline balances, pushing up prices and potentially triggering a drop in exports. But China s naphtha reforming capacity is rising, providing an alternative supply of octane for gasoline. The MOC has raised diesel export quotas to 590,000 b/d compared with 470,000 b/d a year earlier. Asia-Pacific is the major destination for much of China s gasoil exports, but some goes further afield. Beijing tightened road diesel standards in November, helping to push prices for ultra-low sulphur diesel significantly above comparable prices in Singapore. Total diesel exports still hit a record 500,000 b/d that month and were at 480,000 b/d in December, with Bangladesh becoming a key outlet for China s higher-sulphur gasoil surpluses. Corporate viability China s ministry of environmental protection had previously lobbied hard against a pro-export policy for oil, arguing that it exacerbated the country s pollution woes. The MOC and the country s top economic planning body, the NDRC, were more supportive, seeing exports as a means of ensuring the corporate viability of oil companies. Meanwhile, the state-controlled oil giants opposed the issuance of extra crude import allowances for independent refiners, which squeezed their domestic market share and forced their own output into the export markets. No independent refiners have been granted first-quarter export quotas, either for third-party processing deals or general trade, keeping the firms locked out of the export market. But they have been given far greater access to crude import markets than last year. This change in direction marks a waning of industrial sector influence, and the growing clout of local and national administrations. The government used to depend heavily on expert advice from the oil sector in policy formulation and the entrenched local oil giants lobbied hard against granting concessions to the independent refining sector. But President Xi Jinping s administration now appears to expect the oil sector to adapt to the national economic strategy, rather than the other way around. Page 5 of 46
SUPPLY Only three Chinese companies have received quotas matching their maximum potential refinery utilisation over the full year Seven companies have been granted quotas covering less than half of their refining capacity Non-state import quota swells China s first award of import quotas this year should boost crude imports and refining activity. The ministry of commerce (MOC) issued 837mn bl of non-state crude import quotas to 34 independent refinery operators in late December. This represents a 77pc increase on the 474mn bl of import quotas it awarded to 21 refiners a year earlier. The MOC based individual quotas on the amount of crude each firm imported in January-October in the previous year. The independent sector s import allowance stands at 2.29mn b/d for 2018 as a whole, equivalent to 67pc of the recipients combined 3.42mn b/d of refining capacity, and 485,000 b/d more than the MOC awarded to the sector in import quotas for 2017. Only three companies received quotas matching their maximum potential refinery utilisation over the full year. These are private-sector firms Shengxing Chemical, Dongfang Hualong Industry and Trading, and Qingyishan Petrochemical Science and Technology, which operate a combined capacity of 164,000 b/d in Shandong province. Nine firms with a combined capacity of 862,000 b/d received quotas covering over 90pc of their refining capacity. But the biggest winners, in outright terms, are state-run ChemChina and Norinco Huajin Chemical, and private-sector firms Heze Dongming Petrochemical and Panjin North Asphalt Fuel. These received a combined 744,000 b/d of quotas, representing nearly one-third of the all quotas awarded and equivalent to 80pc of their refining capacity. Seven companies have been granted quotas covering less than half of their refining capacity, either because their actual crude imports last year were below the amount their quota allowed, or because their quotas to refine imported crude fall short of their capacity. Ningxia Baota, which buys crude from Russia s state-controlled Rosneft and imports it by rail to Inner Mongolia, has been granted a 21,600 b/d quota, in line with the cut to its refining quota. The MOC has also granted a total of 49mn bl of crude import quotas to 10 trading companies for 2018, taking the amount of non-state quotas issued so far to 2.43mn b/d, or 85pc of the 2.85mn b/d cap on 2018 issuance. A second batch of quotas is likely to be released later in the year, but that will probably be much smaller the overall 2.85mn b/d cap suggests it may be 420,000 b/d. The MOC is likely to extend import rights to the handful of independents still waiting for final approval from top economic body the NDRC to refine imported crude. At least four firms operating independent refineries in Shandong received preliminary approval for refining quotas, of 132,000 b/d, in October-December. Enter the Dragon Other refineries are due to open later this year. It is uncertain whether they will be awarded crude import quotas, even if they are likely to be granted quotas to refine imports although total quota issuance last year exceeded the MOC s initial guidance by 190,000 b/d. Private-sector Hengli s 400,000 b/d Dalian refinery aims to start testing its crude unit in October, and Dragon Aromatics 1.6mn t/yr paraxylene plant will require condensate when it resumes operations in the second quarter. Dragon Aromatics was previously a key buyer of Iranian South Pars condensate and had crude import quotas for 92,000 b/d, before it was shut down in 2015. Hengli is likely to be awarded a quota to refine crude imports ahead of its test runs. But it may buy imports through PetroChina and Sinochem initially both companies have signed agreements with Hengli. State-owned CNPC expects Chinese crude demand this year to be 640,000 b/d higher than last year, at 9mn b/d. Page 6 of 46
DOWNSTREAM Less competitive Atlantic basin grades and new refineries designed to use sour crude have boosted Middle Eastern imports China crude imports 000 b/d 250 Azerbaijan Norway 200 Saudi Arabia Utilisation rate (RHS) 150 100 50 0 Kuwait Oman UAE Jun Jul Aug Sep Oct Nov Dec A rise in supply of Russian ESPO Blend crude will compel Petro- China s Dalian refinery to curb purchases of Mideast Gulf crude % 100 80 60 40 20 0 Refiners turn to Mideast Gulf producers Mideast Gulf producers fortunes are looking up. More Chinese refineries designed to process sour crude are coming on stream, and a long-delayed strategic petroleum reserve (SPR) site may open later this year. The Mideast Gulf s share of crude supply to China began to recover in the second half of last year, increasing to around 44pc having fallen to multi-year lows of 39pc in June. This revival in demand for grades such as Saudi Arab Medium and Iraqi Basrah Light followed the opening in September of new crude units designed for medium sour grades, as well as a rise in the price of benchmark North Sea Dated that has made Atlantic basin grades less competitive in Asia-Pacific markets. More crude units designed to run sour crude will come on stream over the course of this year. PetroChina aims to open an expansion at its Huabei refinery at Renqiu in Hebei province in the second quarter, enabling it to process Mideast Gulf sour crude. The expansion includes a 100,000 b/d crude unit, a 60,000 b/d (3.4mn t/yr) residue hydrotreater and a 30,000 b/d naphtha reforming unit. The Huabei refinery currently processes local Huabei and Daqing crude and small amounts of light sweet crude from storage. Until mid-2017, Huabei s lack of sophistication prevented it from producing low-sulphur road fuels despite its diet of sweet crude. But PetroChina opened a new S-Zorb hydrotreater at Huabei in June, allowing the plant to desulphurise gasoline to 7ppm for the first time. State-run Sinochem agreed this month to help procure crude for private-sector firm Hengli s Changxing refinery, which is under construction and due to begin test runs in October. The 400,000 b/d facility is designed to run sour grades such as Arab Medium and Qatar Marine. Sinochem also hopes to supply another private-sector refinery, ZPC in Zhejiang province, with Mideast Gulf crude. The 400,000 b/d plant run by Rongsheng aims to begin building stocks in August. Delayed filling Some Middle East crude imports are likely to go towards filling the long-delayed Huizhou SPR this year. State-run CNOOC is readying the 31mn bl site for start-up, possibly as early as June. The site was intended to hold Saudi and Omani crude, as well as west African grades. Infrastructure at Huizhou is expanding to accommodate the expected rise in crude imports. Huizhou port put a 2mn bl very large crude carrier (VLCC) terminal into operation in October. This also serves CNOOC s newly expanded 440,000 b/d Huizhou refinery. Huizhou may receive up to three VLCCs of Saudi crude a month this year, or 200,000 b/d, compared with over 60,000 b/d last year. CNOOC s 200,000 b/d expansion to the Huizhou refinery is mainly running Saudi and Kuwaiti crude. PetroChina also has scope to ramp up throughputs at its new 260,000 b/d plant at Anning (see chart). The refinery took more than 110,000 b/d of Saudi crude in September-December through the cross-myanmar (Burma) pipeline and averaged a utilisation rate of 73pc in December. But a rise in supply of Russian ESPO Blend crude this year will compel Petro- China s flagship 410,000 b/d Dalian refinery to curb purchases of Mideast Gulf grades. PetroChina s main facilities that refine Mideast Gulf crude are the Dalian plant, Anning, its 200,000 b/d Qinzhou plant in southern Guangxi and Dalian Wepec, a 200,000 b/d joint-venture export refinery in northeast Liaoning. Dalian Petrochemical is likely to receive much of the increase in ESPO Blend supply this year because PetroChina has not yet completed upgrades to other refineries in northeast China, forcing it to cut purchases of Mideast Gulf grades. PetroChina raised run rates at Dalian this month. Page 7 of 46
midstream China s crude storage additions may be considerably lower than forecast this year, but should still support demand growth Storage capacity expansions Province Location Operator Cap Year mn bl Shandong Weifang Hongrun 32.7 2018 CPR Shandong Yantai Yantai port 7.0 2018 CPR Liaoning Jinzhou Jinzhou port port 3.8 2018 CPR Liaoning Xianren Yinkou port 7.0 2018 CPR Zhejiang Huangzeshan II Mercuria Guangsha 7.0 2018 CPR CPR total 57.5 Guangdong Zhanjiang Sinopec 31.0 2H18 SPR Liaoning Jinzhou CNPC 19.0 2018 SPR Jiangsu Jintan CNPC 16.0 2018* SPR Guangdong Huizhou CNOOC 31.0 2018 SPR SPR total 97.0 2018 total 154.5 Shandong Dongying Haixin 3.0 2019 CPR Shandong Binzhou Shandong Guoyou 6.3 2019 CPR Liaoning Xianren Yinkou port 26.0 2019 CPR Liaoning Dalian Dalian oil logistics 5.0 2019 CPR Shandong Rizhao Dongming port CEFC 10.0 2019 CPR Xinjiang Shanshan CNPC 39.0 2019* SPR Zhoushan (Mamu) Zhejiang Petchem Caofeidian CEFC (Huaxin) Zhejiang 20.0 2019-20 CPR Hebei Sinopec 38.0 2018 SPR Yangpu 2 Hainan 24.0 2019-20 CPR 2019-20 total 171.3 *unconfirmed commercial petroleum reserve strategic petroleum reserve Actual crude stocks are higher than SPR capacity because China leases tank space from state-run and private-sector firms Refinery expansions drive storage growth The opening of new crude storage tanks may provide a significant fillip to crude demand this year. China plans to add 155mn bl of commercial (CPR) and strategic petroleum reserve (SPR) capacity in 2018. The country is likely to open around 58mn bl of new commercial crude storage capacity this year, along with 97mn bl of SPR capacity (see table). But storage projects, especially the SPR, are prone to delays, and crude markets are in backwardation, with prompt prices above forward ones. These factors suggest inventory building may be considerably lower than the new tanks nominal absorption rate. Shandong province remains an important focus for storage expansions. Independent sector refiner Hongrun plans to open 32.7mn bl of storage capacity this year. Hongrun plans to use its niche among independents as a storage operator to create locally acceptable crude blends. Among grades it is considering combining are Latin American sour crudes and US light sweet grades. Storage capacity is also growing further north, in Liaoning province, where private-sector company Hengli plans to open a new 400,000 b/d refinery later this year. More than 10mn bl of storage capacity will open in the Dalian Changxing industrial area this year, excluding tanks built as part of Hengli s Changxing refinery project, to serve Liaoning s burgeoning crude trade. The province is home to two large independent refineries, in addition to 1.5mn b/d of refining capacity operated by PetroChina. New refining capacity further down the east coast will also help underpin storage capacity additions this year, with the opening of private-sector firm ZPC s new 400,000 b/d Zhejiang refinery planned for December. ZPC had hoped to begin stockpiling in August, but the company now does not expect to open its 20mn bl Mamu transit crude storage site until October, and construction of all tanks is not expected to be fully completed until October 2019. Go-slow strategy The long-delayed Jinzhou SPR in Liaoning, initially due to open by June 2014, will finally open this year, a PetroChina official says. A pipeline will connect the SPR cavern to PetroChina s 180,000 b/d Jinzhou refinery. The Sinopec-run Zhanjiang SPR and PetroChina s Jintan SPR on the east coast are also supposed to open this year, but may be delayed again. Sinopec started filling new commercial storage tanks in Zhanjiang in southern Guangdong province last year, but has not given an update on its progress at the SPR. And the CNOOCrun Huizhou SPR, scheduled to open in 2017, is now due to open this year. China s National Statistics Bureau (NBS) has confirmed that the country s total SPR crude stocks hit 275mn bl (37.73mn t) in mid-2017, up from 243mn bl a year earlier. The 90,000 b/d annual increase in SPR stocks partly reflects the opening of the Sinochem-run 19mn bl Aoshan SPR extension project, which began filling in September 2016. China s nominal SPR capacity was 180mn bl in mid-2015, the NBS says. Actual crude stocks are higher than SPR capacity because the government leases tank space from state-run and private-sector firms. China s SPR included as much as 85mn bl of crude held in leased storage tanks by the middle of last year, new NBS data suggest, up from 60mn bl in mid-2016. China finished building the 91mn bl phase 1 of its SPR programme in 2013. The 166mn bl phase 2 is still under way. But the government has abandoned a December 2020 deadline for its 168mn bl phase 3 SPR project. Phase 3 envisages building sites at Caofeidian in Hebei as well as inland Chongqing. Page 8 of 46
DOWNSTREAM The Venezuelan firm s financial problems make it hard to see how it will cover its share of investment in the Jieyang plant Venezuelan crude receipts 000 b/d 600 500 400 300 200 100 0 2016 2017 Jan Apr Jul Oct Upstream executives in Venezuela doubt that struggling PdV can hit its new chief executive s ambitious production targets PdV woes raise questions over Jieyang The massive planned Jieyang refinery on China s south coast is still, officially, a joint venture between CNPC and Venezuelan state-owned PdV. But Mideast Gulf rather than Venezuelan crude will be its base-load crude supply. CNPC s listed subsidiary PetroChina plans to bring the 400,000 b/d Jieyang complex in southern Guangdong province on stream by the end of 2021. PdV holds 40pc of the venture, under a 2011 agreement in which the two companies planned to build three refineries. As part of the deal, PdV would send 800,000 b/d of heavy and extra-heavy crude to cover its share of the investment costs, as well as repay historical loans from China. PdV last year sent around 400,000 b/d of crude to China in debt repayment, up from 390,000 b/d in 2016 but Venezuela had promised far more than this. PetroChina sells most of this to independent refiners in Shandong province. Work at Jieyang started in 2012 but stalled in 2014 following a disagreement over crude pricing and investment terms. Jieyang aims to gain Guangdong local government approval by June and resume construction by the middle of this year. But one of the Jieyang crude units will now be designed to process Mideast Gulf crudes most likely from Iran and Saudi Arabia rather than Venezuelan crude. The latter tends to be heavier and sourer than Middle Eastern crude. PetroChina wants to ensure it can process at least 200,000 b/d of Middle Eastern crude in case there are disruptions to Venezuelan supplies. Its new configuration will include a 1.2mn t/yr ethylene plant and a benzene, toluene and xylene plant with a capacity of 2.6mn t/yr. Venezuela produced only 1.5mn b/d of crude in November, PdV chief executive Manuel Quevedo says. This is considerably lower than the 1.837mn b/d figure for November communicated to Opec by the country s energy ministry. Quevedo does not explain the discrepancy, but adds that production rebounded by up to 400,000 b/d to over 1.9mn b/d in December. PdV expects to lose about 588,000 b/d of production from its ageing reservoirs by December. But this will be offset by investments that add 1mn b/d of production, Quevedo says taking national output to about 2.5mn b/d by the end of the year. A senior national guard officer with no prior oil industry experience, Quevedo was appointed in late November following the arrests of then energy minister Eulogio Del Pino and former PdV chief executive Nelson Martinez on corruption charges. Oil-backed debt Upstream executives in Venezuela doubt that PdV can hit Quevedo s ambitious production targets, suggesting that the net increase in output will be smaller than the implied 400,000 b/d. The company s financial liabilities including bonds, bank loans, promissory notes, and debts to goods and services providers, total more than $65bn. This does not include outstanding oil-backed debt of $25bn owed mainly to China and Russian state-controlled Rosneft, according to the energy ministry. The company is in default on interest payments owed on five bonds worth $17.9bn. PdV s financial problems and declining production make it hard to see how it will cover its share of investment in the Jieyang plant. And PetroChina s decision to run at least half of the Yn58bn ($8.8bn) plant on Saudi and Iranian crude will make that task harder still for PdV doubling the time it will take to pay CNPC back. That, in turn, raises questions about whether the Venezuelan firm can afford to remain in the joint venture. PetroChina aims to start testing Jieyang s crude units by October 2021 and its petrochemical units by December 2021. Page 9 of 46
CORPORATE The petrochemical sector could be included in the next round of major restructuring aimed at making companies more efficient Critics say the government s restructuring strategy effectively bails out zombie firms by tying them to profitable ones Government heralds outcome of restructuring China plans to step up the restructuring of state-owned companies this year by introducing further reforms to make the firms more efficient, state-run assets regulator Sasac says. The government has mooted the idea of including the petrochemical sector in its next round of major restructuring, leading to renewed speculation that state-owned refining and chemicals firm ChemChina and state-owned oil firm Sinochem could be merged or have their petrochemical assets combined. Sinochem has, in the past, denied the possibility of a merger. State-owned Baowu Steel Group became far more profitable last year as a result of a merger, the government says. Baowu was previously two separate firms Baosteel and Wuhan Iron and Steel, the latter being one of the country s most-indebted steel producers. Baowu made a profit of Yn8.66bn ($1.26bn) in January-June 2017, a 100pc increase from a year earlier. ChemChina is also heavily indebted. It completed the $43bn acquisition of Swiss agrichemicals group Syngenta in June last year China s largest overseas deal to date. ChemChina, which received backing from government investment arm China Reform Holdings for the acquisition, is busy refinancing loans used to complete the deal. This month, it arranged a $5.5bn syndicated term loan facility to refinance part of the $12.7bn it used to fund the acquisition. Around seven yangqi companies those supervised by Sasac have merged in the past year, including the country s biggest coal producer Shenhua and power utility Guodian, which were combined to form China Energy Investment in November. The merged entity is worth Yn1.83 trillion ($278bn). It has 175GW of installed thermal power generation capacity, of which 173GW is coal-fired, and nearly 500mn t/yr of coal production. The watchdog reduced the number of yangqis it oversees to 98 from 117 last year through restructuring and mergers. Workforce cuts at yangqis have helped to resolve overcapacity in the steel and coal sectors, removing around 5.95mn t/yr of steel and 25.23mn t/yr of coal capacity last year, Sasac says. China has eliminated over 115mn t/yr of blast furnace-based crude steel capacity since 2016 and shut down 140mn t/yr of induction furnace capacity, while the government set a target to remove 150mn t/yr of coal capacity in 2017. Sasac s latest comments indicate more mergers could be on the way. The government will push for further restructuring in the coal, power, petrochemical, equipment manufacturing and communications sectors this year, Sasac chairman Xiao Yaqing said at a recent work summit focused on yangqi reforms. Saving zombies There are suggestions the reforms could extend to companies controlled by provincial governments. Beijing also wants to encourage asset management companies to be set up in fields including coal, steel, marine equipment and environmental protection, in order to streamline resources. Debt-to-asset ratios dropped for yangqis last year as they cut interest-bearing loans, while profits at the firms rose by 15pc to Yn1.4 trillion. Some critics say that Beijing s restructuring strategy effectively bails out zombie firms by tying them to profitable ones. Its decision to merge Macau-based downstream oil firm Nam Kwong and crude trading firm Zhuhai Zhenrong appears to have led to almost no operational changes. Zhenrong ran into difficulty when its main customer, Dragon Aromatics, closed it, formerly, supplied South Pars condensate to Dragon. China s imports of Iranian crude fell to an almost two-year low in December, but supply to Asia-Pacific held steady. Page 10 of 46
gas Demand for LNG has up pushed seaborne spot prices, but the increase in supply has helped cool prices in the domestic market China apparent gas demand bn m³ 30 25 20 15 10 5 0 Production LNG imports Pipeline imports Jan Mar May Jul Sep Nov Jan Mar May Jul Sep Nov 16 16 16 16 16 16 17 17 17 17 17 17 Government inspection teams are monitoring the gas shortages and work to convert coal heating schemes to run gas China turns to LNG to counter shortages Energy firms are pulling out all the stops to increase LNG imports to south and east China, freeing up pipeline imports and domestic gas to meet demand in the north. LNG imports rose by far more than pipeline imports last month, to a record 5.03mn t, with full-year imports at a record 38.3mn t, up by 46pc from a year earlier. Domestic gas output rose by 2.9pc on the year to 13.6bn m³ in December and reached 147bn m³ over the full year, up by 8.5pc from 2016 compared with 7.8pc growth in the previous year. China s demand for LNG pushed up seaborne spot prices by $0.84/mn Btu to $11.52/mn Btu this month. But the supply increase has helped cool domestic LNG prices, which fell by nearly a quarter from December to Yn5,613.60/t ($17.70/mn Btu), National Bureau of Statistics data suggest. A government crackdown on alleged price gouging by suppliers may have also helped to push domestic prices lower. Top economic planning body the NDRC fined Zhongxin Thermal Electric in Heilongjiang, Haiyan Natural Gas in Zhejiang, Xuanhan Hexin Natural Gas in Sichuan, Hengyuan CNG in Shandong and others for price irregularities, and NDRC anti-trust authorities launched an investigation into 17 companies including PetroChina units last month. The ministry of environmental protection sent out 839 inspection teams in December to monitor gas shortages and the conversion of coal heating schemes to run gas. China s rollout of the coal-to-gas scheme has been blamed for exacerbating seasonal gas shortages in the north. Sinopec has pledged 15.1bn m³ of gas supply from December-February, a 12pc increase on the year, by raising imports and boosting output by 1.1mn m³/d. CNOOC is expected to increase supply by a third to 20bn m³ in northeast cities this winter. PetroChina supplied 102mn m³/d of gas to the Beijing city area through its pipeline network from 1-17 January, up by 12pc from a year earlier. Imports are being used to supply coastal consumers, leaving the big trunk lines to supply inland markets. Sinopec s 295mn m³ working gas capacity Wen96 storage cavern at Zhongyuan in Henan, which serves Shandong and Henan provinces, and its 3mn t/yr Qingdao LNG terminal in Shandong, reached full capacity late last year. This has allowed Sinopec to send 40 LNG trucks north to help alleviate shortages there. And the firm said late last month that it had sent 2.8mn m³/d to PetroChina s West-to-East (WEP) gas pipeline to supply Hubei province. PetroChina bought more LNG from Qatar last month for its 3.5mn t/yr Tangshan LNG terminal in northern Hebei. This is fed into its Shaan-Jing gas pipeline network, which connects WEP to Beijing. Terminal velocity On the east coast, CNOOC s Zhejiang LNG terminal has set aside 1mn m³/d for supply to WEP destinations in the south, enabling WEP to maximise deliveries to Hebei, Henan and Shanxi in the north. PetroChina has added 92.4mn m³ of working gas storage capacity at its east coast Jiangsu Jintan underground gas storage facility, helping bolster supply to its WEP network and allowing it to target southern China so gas in the north can remain there rather than move south. But shortages are still forcing Sinopec to cut gas supplies to its refinery and petrochemical plants by over 6mn m³/d. It has cut supplies to refineries including Yangzi by 3.9mn m³/d since mid-december. And PetroChina has cut gas supply to its 200,000 b/d Pengzhou refinery in Sichuan by at least a third. But the imminent start-up of Sinopec s 3mn t/yr Tianjin LNG receiving terminal, and rising supply from Kazakhstan after the 10bn m³/yr Beineu-Bozoi-Chimkent pipeline opened in October, will help offset a fall in Turkmen deliveries. Turkmen gas supply to China fell to the lowest in a year, in November, before bouncing back last month. Total gas supply may be as much as 4.8bn m³ short of demand this winter. And it will take five years to remedy China s seasonal gas shortage problems, CNPC says. Page 11 of 46
Products Diesel spot prices $/bl 25 Dec 1 Jan 8 Jan 15 Jan Shandong independent 81.98 83.76 80.39 85.04 Yangtze river delta 100.19 97.44 95.45 74.35 Pearl river delta 106.59 107.50 107.42 83.70 Northwest China 106.59 108.02 109.48 86.47 Central China 105.83 104.66 104.32 82.14 Gasoline spot prices $/bl 25 Dec 1 Jan 8 Jan 15 Jan Shandong independent 64.81 67.79 71.46 84.58 Yangtze river delta 71.15 73.49 79.84 92.69 Pearl river delta 73.86 74.63 79.29 92.69 Northwest China 84.73 85.56 85.67 94.53 Central China 76.58 77.36 80.39 93.61 Prices are given in $/bl net of consumption tax and VAT and reflect deals done at selected refineries. For regions, see map below. Diesel assessments track China 5 (Max 10ppm sulphur/min. 46 cetane exc Northwest, which reflects China 4 prices (max. 50ppm sulphur/min. 43 cetane). Gasoline assessments track China 5 (max. 10ppm sulphur / min. 92 Ron / max. 1pc benzene) with the exception of Northwest, which reflect China 4 (max. 50ppm sulphur/min. 93 Ron/max. 2.5pc benzene) deals done in Shaanxi province. Consumption tax = Yn2,110/t (Gasoline); Yn1,411/t (Diesel) Refinery production Refinery runs Gasoline Jetkerosine 000 b/d Diesel Fuel oil LPG Jan 17 11,621 3,211 950 3,810 466 1,200 Feb 10,802 2,985 883 3,541 433 1,115 Mar 11,187 3,063 887 3,744 479 1,191 Apr 10,817 2,947 854 3,618 471 1,165 May 10,978 3,035 860 3,646 449 1,192 Jun 11,213 3,104 899 3,759 547 1,277 Jul 10,714 2,885 879 3,553 458 1,054 Aug 11,096 2,937 924 3,582 450 1,087 Sep 12,007 3,228 1,013 3,973 469 1,172 Oct 11,894 3,179 975 3,957 496 1,177 Nov 12,028 3,219 944 3,959 468 1,212 Dec 11,565 3,037 883 3,834 424 Khabarovsk 1,164 China downstream infrastructure K AZA K H S T A N Karamay Kozmino M O N GOLIA Changchun Refinery runs 000b/d Russia Jilin Dushanzi Kazakhstan Urumqi Heilongjiang Mongolia Northwest Tieling KYRGYZSTAN Oct 1,337 Shandong Shenyang Jilin Liaoyang Fushun Krygystan Nov 1,383 Oct 2,446 NORTH Dec 1,332 Liaoning Nov 2,521 Dandong KOREA Jinzhou Xinjiang Inner Mongolia Beijing Dec 2,465 Yalujiang Gansu Tianjin Yingkou Hebei Qinhuangdao Beijing Qinghai Ningxia Shanxi Shandong Renqiu Dalian Henan Yangtze delta Jiangsu Shijiazhuang Tianjin SOUTH Shaanxi Tibet Taiyuan Central Oct 1,898 Cangzhou KOREA Anhui Hejian Hubei Nepal Oct Sichuan 904 Nov 1,852 Linyi Jingbian Nov 898 Dec 1,862 Handan Qingdao Hunan Jiangxi CHI N A Yan an Anyang Zibo Fujian Jinan Shandong Dec 913 Rizhao India Bangladesh Puyang Northwest Dongming Yunnan Guangxi Guangdong Pearl Lanzhou Kaifeng Yangtze Oct 2,106 Luoyang Xinyi Central Myanmar Hong Kong Xianyang Zhengzhou Suzhou Huai an Pearl Laos Vietnam Nov 2,053 Xi an Bengbu Yancheng Thailand Hainan Dec 1,731 Fuyang Taizhou Weigang Huai nan Suzhou Shanghai Zhumadian Chuzhou Hefei Nanjing Ma anshan Pengzhou Wanzhou Wuhan Anqing Chengdu Ningbo Jianyang Jingmen Zhenhai Neijiang Jiujiang Leshan Yueyang Nanchang Chongqing Quzhou Changsha Shangrao Rongchanga Wenzhou Jiangjin Tongzi Xiangtan ZhuzhouZhangshu Zhaotong Zunyi Loudi Fuzhou Lijiang Pingxiang Tongren Ganzhou Guiyang Quanzhou Quanzhou Chenzhou Product pipeline Dali Kunming Xiamen Xiamen Baoshan Guilin Meizhou Product pipeline under construction Guangzhou Chuxiong Liuzhou Yuxi Planned product pipeline Ruili T A I W A N Lincang YangweiBaise Pearl river Huizhou Oil port M YANMAR Nanning Zhongshan ( B URMA) WenshanGuangxi Shenzhen Maoming Key refineries Zhuhai Qinzhou Planned refineries VIETNAM Zhanjiang Beihai Rail terminal LAOS Hainan Ramree N E P A L Mekong river Yellow river Yangtze river Argus Page 12 of 46
Product prices China and Singapore refining margins $/bl 45 40 35 30 25 20 15 10 5 0 Gasoline crack spread Diesel crack spread 321 crack spread -5 Jan Apr Jul Oct Jan Apr Jul Oct Jan 16 17 18 Gasoline and diesel marketing margins $/bl 30 20 10 0-10 -20-30 Gasoline spot price differential to ex refinery Diesel spot price differential to ex refinery -40 2013 2014 2015 2016 2017 2018 Gasoline and diesel retail margins $/bl 10 0-10 -20-30 -40-50 -60 Guangdong spot gasoline price differential to retail Guangdong spot diesel price differential to retail -70 2013 2014 2015 2016 2017 2018 China basket price month 1 vs 2 $/bl 0.7 0.6 0.5 0.4 0.3 0.2 0.1 Month 2 = 0 China basket = reference price used by NDRC to set retail price caps calculated as 40pc Ice Brent, 10pc Nymex WTI and 50pc Dubai plus freight to China 0.0 30 Oct 30 Nov 31 Dec Chinese retail price caps Yn/t 90 Ron gasoline^ 10ppm diesel^ 22 Jan 22 Dec 22 Jan 22 Dec Northeast: Heilongjiang 8,115 7,340 7,115 6,370 Jilin 8,115 7,340 7,115 6,370 Liaoning 8,115 7,340 7,115 6,370 North: Beijing 8,150 7,545 7,150 6,565 Tianjin 8,115 7,510 7,115 6,530 Hebei 8,115 7,340 7,115 6,370 Shanxi 8,185 7,410 7,170 6,425 Hohhot 8,130 7,355 7,130 6,385 East: Shanghai 8,130 7,525 7,120 6,535 Jiangsu 8,170 7,395 7,155 6,410 Zhejiang 8,170 7,395 7,170 6,425 Shandong 8,125 7,350 7,125 6,380 Central: Hubei 8,140 7,365 7,140 6,395 Hunan 8,180 7,405 7,200 6,455 Henan 8,135 7,360 7,135 6,390 Anhui 8,165 7,390 7,165 6,420 Jiangxi 8,170 7,395 7,175 6,430 South: Guangdong 8,195 7,590 7,185 6,600 Fujian 8,190 7,415 7,180 6,435 Hainan 8,260 7,485 7,250 6,505 Guangxi 8,260 7,485 7,250 6,505 Southwest: Chongqing 8,330 7,555 7,325 6,580 Chengdu, Sichuan* 8,335 7,560 7,350 6,605 Chongqing, Sichuan* 8,330 7,555 7,325 6,580 Guiyang, Guizhou* 8,295 7,520 7,275 6,530 Kunming, Yunnan* 8,325 7,550 7,305 6,560 Northwest: Xinjiang 7,895 7,120 7,010 6,265 Xi'an, Shaanxi* 8,100 7,495 7,125 6,540 Xining, Qinghai* 8,080 7,305 7,160 6,415 Gansu 8,100 7,325 7,135 6,390 Ningxia 8,120 7,345 7,115 6,370 *Prices are for the listed city, not the province. NDRC guidelines stipulate that the highest wholesale prices must be at least Yn400/t below maximum retail prices Beijing has stricter vehicle emissions standards. Prices listed are for China 4 ^Prices apply to fuel compatible with China 4 vehicle emissions standards NDRC Shandong independent/official price comparison $/bl 17 Nov 24 Nov 1 Dec 8 Dec 15 Dec Gasoline, 90 Ron Lijin* Ex-refinery prices 107.18 109.36 110.01 106.36 106.54 ± NDRC wholesale cap -24.83-27.88-26.92-30.48-30.53 % of wholesale cap 81.19 79.69 80.34 77.73 77.73 Dongming Ex-refinery prices 115.22 116.89 115.20 112.80 113.70 ± NDRC wholesale cap -16.79-20.35-21.73-24.04-23.37 % of wholesale cap 87.28 85.17 84.13 82.43 82.95 Diesel, 10ppm Lijin* Ex-refinery prices 131.52 137.07 136.77 130.20 118.65 ± NDRC wholesale cap 2.23 2.23 2.23-4.25-16.02 % of wholesale cap 101.72 101.66 101.66 96.84 88.10 Dongming Ex-refinery prices 140.42 143.98 143.05 139.31 131.63 ± NDRC wholesale cap 11.13 9.14 8.51 4.86-3.04 % of wholesale cap 108.61 106.78 106.33 103.61 97.74 Crude price Shengli** Ex-field prices 72.64 72.90 73.63 73.58 73.70 Independent differential to NDRC price caps assumes a Yn400/t wholesale discount to retail cap *The 70,000 b/d Lijin refinery runs a blend of imported straight-run fuel oil and domestic crude, producing China 5 standard gasoline and diesel since January 2016 The 160,000 b/d Dongming refinery produces China 4 and 5 standard gasoline, but mainly China 4 road diesel **Sinopec produces around 540,000 b/d of heavy sour Shengli crude in Shandong. Since November 2015, it has set prices retrospectively. Page 13 of 46
Product MArkets Chinese oil products imports and exports Imports Nov ± Nov/Oct YTD ± YTD 17/16 Exports Net imports* Oct net imports* 000t % Imports Exports Net imports* YTD 16 net* 000t 000t % Gasoline 0.0 1,042.5-1,042.5-969.7-72.7 7.5 16.4 9,324.5-9,308.1-8,532.4-775.7 9.1 Naphtha 629.1 0.0 629.1 461.5 167.6 36.3 6,056.2 25.8 6,030.5 6,113.3-82.8-1.4 Jet-kerosine 376.9 1,452.3-1,075.5-680.3-395.1 58.1 3,371.0 11,497.8-8,126.8-8,331.9 205.1-2.5 Gasoil 1.1 2,025.5-2,024.4-1,084.5-939.9 86.7 744.5 15,261.1-14,516.6-12,810.1-1,706.5 13.3 Fuel oil 1,069.3 1,242.5-173.2 245.7-418.9-170.5 12,245.6 9,871.0 2,374.7 1,689.2 685.5 40.6 LPG 1,577.1 117.8 1,459.3 1,460.8-1.5-0.1 16,856.6 1,219.5 15,637.1 13,560.9 2,076.2 15.3 Asphalt 472.1 30.8 441.3 363.7 77.6 21.3 4,707.6 318.2 4,389.4 4,598.6-209.3-4.6 Petroleum coke 946.8 224.4 722.4 452.5 269.9 59.6 6,758.5 2,036.2 4,722.3 1,842.4 2,879.9 156.3 Lubricant 28.1 18.9 9.3 18.9-9.7-51.3 317.7 105.2 212.6 224.7-12.1-5.4 Base oil 262.2 3.2 259.0 167.1 91.9 55.0 2,598.6 41.9 2,556.7 2,570.1-13.3-0.5 Wax 0.5 42.8-42.3-52.5 10.2-19.4 5.2 464.4-459.2-522.0 62.8-12.0 Other products 48.8 2.6 46.1 33.5 12.6 37.6 475.8 35.4 440.4 397.7 42.8 10.8 Total products 5,412.1 6,203.4-791.3 416.7-1,208.0-289.9 54,153.8 50,200.9 3,952.9 800.4 3,152.5 393.9 Crude 37,043.8 850.3 36,193.5 30,763.7 5,429.8 17.6 386,269.0 4,704.6 381,564.4 342,060.5 39,503.9 11.5 Total petroleum 42,455.9 7,053.7 35,402.3 31,180.5 4,221.8 13.5 440,422.8 54,905.6 385,517.2 342,860.9 42,656.4 12.4 *minus figures indicate net exports Chinese oil products imports and exports Imports Dec ± Dec/Nov YTD ± YTD 17/16 Exports Net imports* Nov net imports* 000t % Imports Exports Net imports* YTD 16 net* 000t 000t % Gasoline 0.0 1,230.0-1,229.9-1,042.5-187.5 18.0 16.4 10,554.5-10,538.0-9,489.0-1,049.1 11.1 Naphtha 611.4 0.0 611.4 629.1-17.7-2.8 6,667.6 25.8 6,641.9 6,624.7 17.2 0.3 Jet-kerosine 343.4 1,691.5-1,348.1-1,075.5-272.7 25.4 3,714.4 13,189.3-9,475.0-9,606.3 131.3-1.4 Gasoil 3.8 1,994.2-1,990.3-2,024.4 34.1-1.7 748.3 17,255.3-16,507.0-14,488.5-2,018.5 13.9 Fuel oil 1,330.2 1,239.2 91.0-173.2 264.2-152.6 13,575.8 11,110.1 2,465.7 1,909.4 556.3 29.1 LPG 1,592.4 101.9 1,490.5 1,459.3 31.2 2.1 18,449.0 1,321.4 17,127.6 14,801.9 2,325.7 15.7 Asphalt 331.0 67.4 263.7 441.3-177.6-40.2 5,038.6 385.6 4,653.0 4,745.2-92.2-1.9 Petroleum coke 667.6 217.4 450.2 722.4-272.2-37.7 7,426.1 2,253.6 5,172.5 1,732.1 3,440.4 198.6 Lubricant 26.3 9.5 16.8 9.3 7.6 82.1 344.1 114.7 229.4 246.0-16.6-6.7 Base oil 218.0 1.5 216.5 259.0-42.5-16.4 2,816.6 43.4 2,773.2 2,800.0-26.7-1.0 Wax 0.5 53.4-52.8-42.3-10.5 24.8 5.7 517.8-512.1-573.7 61.7-10.8 Other products 41.3 3.2 38.1 46.1-8.0-17.3 517.1 38.5 478.5 446.9 31.6 7.1 Total products 5,166.0 6,609.0-1,443.0-791.3-651.6 82.4 59,319.8 56,809.9 2,509.8-851.3 3,361.2-394.8 Crude 33,697.5 158.8 33,538.7 36,193.5-2,654.8-7.3 419,966.5 4,863.4 415,103.1 378,097.1 37,005.9 9.8 Total petroleum 38,863.5 6,767.8 32,095.7 35,402.3-3,306.4-9.3 479,286.3 61,673.4 417,612.9 377,245.8 40,367.1 10.7 *minus figures indicate net exports Product imports, exports mn t 8 Exports Imports Net exports/imports 6 4 2 0-2 -4-6 -8 Jan 16 Apr Jul Oct Jan 17 Apr Jul Oct Gasoil imports, exports mn t 2.5 2.0 Exports Imports Net exports/imports 1.5 1.0 0.5 0.0-0.5 Jan 16 Apr Jul Oct Jan 17 Apr Jul Oct Page 14 of 46
Product markets Independent crude import quotas Refinery Gasoline exports and margins $/bl 15 10 5 0-5 -10-15 Gasoline export margins with 1 month lag (LHS) Net gasoline exports (RHS) -20 2015 2016 2017 Diesel exports and margins $/bl 10 5 0-5 -10-15 -20 Diesel export margins with 1 month lag (LHS) Net diesel exports (RHS) Quota to refine -25 *three-month moving average -30 2015 2016 2017 Licence to import 000 b/d CDU cap. Huajin Chemical 128 149 160 ChemChina 232 333 494 Dragon Aromatics 92 0 92 Heze Dongming 150 135 150 Panjin North Asphalt Fuel 140 126 140 Shandong Kenli 50.4 45 60 Shandong Lijin 70 63 70 Hongrun 106 106 114 Shandong Yatong 55.2 50 70 Ningxia Baota 43.2 22 150 Shandong Wonfull (Huifeng) 83.2 83 116 Shandong Tianhong Chemical 88 79 100 Shouguang Luqing 51.6 46 60 Shandong Chambroad 66.2 60 70 Dongying Qirun Chemical 44 40 44 Shaanxi Yanchang Petroleum 72 72 348 Shandong Haiyou 64 64 70 Shandong Hengyuan Petrochemical 70 63 70 Shandong Wudi Xinyue 48 38 48 Shandong Qingyuan Petrochemical 81 73 104 Henan Fengli Petrochemical 44 40 52 Shandong Jincheng Petrochemical 44 54 118 Hebei Xinhai Chemical 74.4 67 120 Landbridge Petrochemical # 36 36 70 Hubei Jin'ao Science & Technology Chemical 46 46 100 Shenchi Petrochemical 50.4 45 52 Zhonghai Fine Chemical 37 37 46 Shandong Haike Ruilin Chemical 42 38 46 Shandong Dongfang Hualong Industry & Trade# 60 60 60 Shandong Shengxing Chemical# 44 44 44 Shandong Qicheng Petrochemical # 32 32 70 Dalian Jinyuan Petrochemical # 16 16 44 Shandong Yuhuang Shengshi Chemical# 28.9 29 60 Zibo Xintai Petrochemical # 40 40 44 Shandong Qingyishan Petchem Science & Technology# 60 60 60 Shandong Fuyu Chemical # 32.8 44 Hualian Petrochemical# 34-80 Shandong Haike Chemical # 19.2-44 Jiangsu Xinhai Petrochemical # 46-60 Total 2,522 2,291 3,744 *granted licence to import crude #won preliminary approval to refine crude imports 000 b/d 350 300 250 200 150 100 50 0 000 b/d 500 450 400 350 300 250 200 150 100 50 0 Product prices* (week ending) China HSFO (cracked) fob south China barges (STS) Product prices Singapore refining margins $/bl 25 20 15 10 5 0-5 29 Dec 5 Jan 12 Jan 19 Jan Yuan/t 3,438 3,425 3,455 3,575 $/t (premium to Mops HSFO 180) M-100 (straight-run) c+f south China 37.00 37.00 37.00 37.00 M-100 (straight-run) c+f east China 36.00 36.00 36.00 36.00 HSFO 180 c+f south China (month 1) 387.53 388.69 391.06 393.17 HSFO 180 c+f south China (month 2) 387.65 389.38 391.78 393.82 HSFO 180 c+f south China (month 3) 387.84 390.06 392.68 394.07 South Korea/Japan $/t HSFO 180 fob South Korea 387.69 388.88 391.10 393.15 Naphtha c+f Japan 608.88 606.16 606.65 605.40 Singapore $/bl Gasoil 0.5% 76.85 78.39 78.96 79.92 Gasoil 0.005% 78.44 80.14 81.00 81.87 Gasoil 0.005% diff to MOPS 1.00 0.04 0.07 0.18 Gasoil 0.001% 78.58 80.29 81.15 82.02 Gasoil 0.001% diff to MOPS 1.14 0.19 0.22 0.33 Gasoline 92R 74.23 74.44 76.21 76.86 Naphtha 67.01 67.01 66.71 66.68 Jet-kerosine 78.30 79.58 80.23 81.15 HSFO 180 ($/t) 376.69 377.88 380.10 382.15 $1 = Yn 6.4354 19 Jan *Average weekly prices Aug 17 Sep Oct Nov Dec Gasoline Naphtha Jet Diesel Heating oil Fuel oil $/bl Jan 18* Singapore Gasoil 0.005% 64.24 69.25 69.95 73.96 75.75 81.06 Gasoil 0.005% diff to MOPS +0.59 +1.19 +1.49 +0.89 +0.96 +0.10 Gasoil 0.001% 64.33 69.41 70.24 74.07 75.86 81.21 Gasoil 0.001% diff to MOPS +0.68 +1.34 +1.78 +0.99 +1.06 +0.25 Gasoline 92R 64.70 67.55 67.37 73.07 73.26 75.94 * month to date -10-15 five-day rolling averages 2014 2015 2016 2017 2018 $/t Page 15 of 46
Products Shandong netbacks $/bl 25 20 15 10 5 Independent GPW refining margin (LHS) Independent utilisation rate (RHS) % 90 0 65 Sep Nov Jan Mar May Jul Sep Nov Jan 16 17 18 85 80 75 70 Shandong margins weaken Shandong independent sector refinery utilisation rates have remained high this month, despite volatile refining margins. The rise in crude prices prompted top economic planning body the NDRC to increase pump prices on 12 January. But diesel prices continued their retreat from highs of close to $100/bl in November to $84/bl this month, eroding margins. A looming crackdown on sales of untaxed gasoline boosted spot prices and margins. But the rally petered out, and prices in Shandong fell to deep discounts to gasoline in south and east China, opening an arbitrage for product to flow south. Retailers have proved reluctant to add to stocks, expecting prices to fall further before the lunar new year holidays in mid-february. Crude stocks in bonded tanks at Shandong ports fell in December, but began to build this month. The weighted average utilisation rate of independents surveyed by Argus remained at 84pc this month, equivalent to 1.03mn b/d. Gross product worth refining margins for a range of crude grades favoured by independents fell to $12.40/ bl from $15.65/bl last month. Independent Haiyou Petrochemical completed maintenance at its 70,000 b/d refinery in Rizhao, and restarted it late this month. The firm completed maintenance at a 12,000 b/d catalytic cracking unit in mid-december. Dongying-based refiner Shangneng shut its 40,000 b/d plant in late-december and plans to reopen it at the end of January. China Overseas Energy Science and Technology shut its 46,000 b/d refinery at Rizhao for maintenance and plans to reopen it in March. Crude China CDU shutdowns mn b/d 1.4 Sinopec PetroChina Other 1.2 1.0 0.8 0.6 0.4 0.2 0.0 Jan Apr Jul Oct Jan 17 18 Oman vs Cabinda dated $/bl 70 Oman month 1 Cabinda dated 65 60 55 50 45 Jul Aug Sep Oct Nov Dec Supply fears support prices Atlantic basin benchmark North Sea Dated rose by $5.71/bl between 19 December and 17 January, to reach $69.10/bl. Mideast Gulf benchmark Dubai rose by $4.92/ bl to $66.33/bl. Venezuelan production collapsed last month. Opec members compliance with production cuts remained above 100pc, while the North Sea Forties pipeline outage crimped non-opec supply. Chinese demand for west African crude remained firm. Chinese refiners took 1.36mn b/d of west African crude in December, up by 140,000 b/d from the previous month. Strong diesel prices have underpinned demand for distillate-rich west African grades. Angolan crudes accounted for nearly three-quarters of Chinese refiners west African purchases. But volumes destined for China s independent refiners were down at 220,000 b/d, from the 330,000 b/d that went to the sector in October- November. Many independent refiners curbed their purchases last month after using up most of their import quotas. Demand for Dated-linked west African crude may ease, following a widening of the Brent-Dubai spread. The Brent-Dubai EFS, or the premium of Ice Brent to Dubai swaps, hit a 19-month high of $3.64/bl on 15 January. Angolan grades such as Cabinda have become expensive relative to Mideast Gulf Oman. China continued to buy Russian ESPO Blend crude. At least 380,000 b/d is going to China. In December, China took about 500,000 b/d of ESPO Blend from Kozmino in Russia s far east, its highest amount in five months. Chinese demand has helped push ESPO Blend premiums to Dubai to $4.70/bl, their highest since March last year. Page 16 of 46
Crude markets Crude prices* (week ending) $/bl 29 Dec 5 Jan 12 Jan 19 Jan Formula pricing $/bl Oct 17 Nov Dec Jan 18 Feb Mideast Gulf (Singapore close) Dubai (month 1) 63.86 64.72 66.10 66.42 Dubai (month 2) 63.46 64.31 65.66 65.98 Dubai (month 3) 63.10 64.05 65.42 65.76 Oman (month 1) 63.49 64.99 66.22 66.82 Murban (Abu Dhabi) 66.24 67.08 68.50 69.32 Qatar Marine 63.84 64.88 66.24 66.88 Brent-Dubai EFS 3.35 3.26 3.43 3.49 Asia-Pacific (Singapore close) Minas (Indonesia) 59.11 60.04 60.96 61.07 Duri (Indonesia) 56.36 57.23 57.76 57.90 Tapis (Malaysia) 68.17 70.39 72.07 71.80 NW Shelf (Australia) 68.82 70.94 72.57 72.10 West Africa (London close) Cabinda Blend (Angola) 66.34 68.21 69.90 69.51 Girassol (Angola) 66.94 68.69 70.30 69.91 Hungo (Angola) 65.94 67.64 69.14 68.71 Bonny Light (Nigeria) 67.34 69.14 70.78 70.35 Russia/Mediterranean (London close) Urals (Russia, cif northwest Europe) 65.64 67.34 69.04 68.72 ESPO Blend (fob Kozmino) 67.71 68.76 70.07 70.88 Saharan Blend (Algeria) 66.84 68.66 70.34 70.25 North Sea Dated (Brent) 66.14 67.94 69.62 69.35 Ice Brent month 1 66.31 67.30 68.61 69.35 Nymex WTI (month 1) 59.75 61.20 63.09 63.87 *average weekly price Crude prices $/bl Contract month Oct 17 Nov Dec Jan 18 Feb Mar* Ice Brent 51.87 55.51 57.65 62.87 63.95 68.57 Dubai 50.24 53.71 55.60 60.81 61.61 65.77 Murban (Abu Dhabi) 51.50 55.15 57.36 62.76 63.84 68.39 Sep 17 Oct Nov Dec Jan 18 Feb* Nymex WTI futures 48.40 48.34 51.10 55.09 57.36 61.58 WCS Houston cfr China 48.90 49.60 51.85 56.57 58.28 62.33 WTI Houston cfr China 54.34 56.15 59.58 65.05 66.33 70.31 Calendar month Aug 17 Sep Oct Nov Dec Jan 18* Forties 51.93 56.88 57.30 62.90 64.59 69.52 Djeno (Congo) 51.02 56.06 56.71 61.74 62.83 67.48 * month to date Saudi Arabia fob Ras Tanura to Asia-Pacific: average Oman/Dubai Arab Super Light +4.00 +4.10 +4.55 +5.75 +5.95 Arab Light +0.30 +0.60 +1.25 +1.65 +1.65 Arab Medium -0.55-0.65 +0.00 +0.25 +0.05 Arab Heavy -1.65-1.80-1.15-1.05-1.25 Iran: fob Kharg Island: average Oman/Dubai Iranian Light +0.50 +0.80 +1.40 +1.85 +1.80 Iranian Heavy -0.99-1.09-0.49-0.24-0.50 Iraq to Asia-Pacific: average Oman/Dubai Basrah Light (Basrah oil terminal) -0.25-0.25 +0.10 +0.25-0.05 Kuwait: average Oman/Dubai Kuwait -1.05-1.10-0.50-0.30-0.55 Yemen: dated Brent Masila na na na na na Nigeria: dated Brent Bonny Light +0.69 +0.66 +0.50 +0.79 +0.86 Official selling prices $/bl Jul 17 Aug Sep Oct Nov Dec Middle East Abu Dhabi Murban 48.60 51.60 55.70 58.10 63.65 64.85 Oman Oman MOG 50.55 46.52 47.63 50.39 54.02 55.59 Asia-Pacific Indonesia Minas 46.35 49.17 53.17 54.71 59.83 61.19 Duri 44.09 46.86 50.71 52.40 57.62 58.77 Malaysia Tapis 49.56 52.99 57.75 59.71 65.52 66.94 Opec basket 46.93 49.61 53.44 55.36 60.74 62.06 Japanese Crude Cocktail 48.36 48.98 51.51 54.81 na na Dubai-Brent EFs $/bl 4.0 3.5 3.0 2.5 2.0 1.5 1.0 0.5 0.0 Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec Jan Page 17 of 46
Crude imports/exports China s crude imports by origin and exports by destination Imports by origin Nov ± Oct YTD ± YTD 17/16 000t 000 b/d ± 000 b/d ±% 000t 000 b/d ± 000 b/d ±% Middle East 16,672.3 4,064.7 733.5 22.0 167,973.8 3,679.8 46.5 1.3 Saudi Arabia 4,339.9 1,056.0-30.4-2.8 47,474.3 1,037.6 4.1 0.4 Iran 2,292.6 556.3-126.9-18.6 28,724.0 626.1 9.6 1.6 Oman 2,683.4 656.6 318.7 94.3 28,401.4 624.2-62.2-9.1 Yemen 267.7 66.2 66.2 na 1,567.4 34.8 27.1 351.9 UAE 738.1 185.0 23.1 14.3 9,471.9 213.3-22.4-9.5 Kuwait 2,144.6 519.7 82.8 19.0 16,508.1 359.3 36.9 11.4 Iraq 4,205.9 1,024.8 400.1 64.0 34,950.1 764.9 43.0 6.0 Qatar 876.5 19.6 10.4 112.3 Africa 6,930.2 1,681.5 237.8 16.5 76,524.5 1,667.9 322.1 23.9 Angola 3,802.0 918.8 84.7 10.2 47,258.4 1,025.8 152.5 17.5 Sudan 83.5 20.2 20.2 na 720.7 15.7-4.9-23.8 Congo (Brazzaville) 1,197.4 291.8 130.1 80.5 8,129.0 177.9 39.5 28.5 Congo (DRC) 590.7 12.9 6.3 95.7 Equatorial Guinea 394.2 95.5 95.5 na 2,290.4 49.9 27.5 123.1 Libya 554.2 136.1 136.1 na 3,003.6 66.3 52.2 371.3 Nigeria 1,205.0 26.7 8.0 42.6 Algeria -68.2-100.1 268.8 6.3 6.3 na Chad 586.5 11.9 4.7 65.8 Egypt 242.1 57.5 25.7 80.6 1,902.5 40.6 29.6 267.6 Gabon 128.7 31.6-82.6-72.3 3,559.2 78.4 18.2 30.2 Cameroon 136.3 32.5 2.6 8.7 656.2 14.0 5.7 68.5 Ghana 247.1 62.2-32.4-34.3 3,243.7 73.3 21.4 41.2 South Sudan 144.6 35.2-74.0-67.7 3,110.0 68.1-39.2-36.6 FSU/Europe 6,379.5 1,584.9 227.4 16.8 67,343.9 1,498.8 258.6 20.9 Russia 5,120.1 1,271.5 154.3 13.8 54,765.5 1,218.3 166.1 15.8 Kazakhstan 364.4 92.1 38.7 72.5 2,356.1 53.5-15.1-22.0 Norway -32.5-99.9 1,147.4 25.5 10.3 67.6 UK 894.9 221.3 67.0 43.4 7,793.1 173.1 84.1 94.5 Azerbaijan 1,281.7 28.4 13.2 86.8 Americas 5,829.6 1,407.6 434.2 44.6 60,166.4 1,296.6 288.3 28.6 Venezuela 1,489.5 348.5 141.8 68.6 19,603.0 412.0 26.3 6.8 Brazil 1,880.7 454.5 187.7 70.4 20,978.9 455.4 96.4 26.9 Argentina 145.2 35.0 0.5 1.4 1,277.1 27.7-0.7-2.5 Ecuador -56.6-99.9 1,362.8 28.0 10.8 63.0 Colombia 1,129.6 280.9 144.9 106.6 8,383.3 187.2 5.1 2.8 Canada 586.4 13.0 9.5 268.4 US 1,184.6 288.7 81.5 39.3 6,818.8 149.2 138.6 1,307.5 Mexico -65.6-100.1 1,156.1 24.1 4.9 25.5 Asia-Pacific 1,232.4 310.6 80.8 35.2 14,135.8 321.3 16.7 5.5 Indonesia 268.2 65.8 41.6 171.7 1,485.7 32.7-29.8-47.6 Vietnam 177.9 45.0 15.6 53.0 2,193.5 49.8-41.8-45.6 Thailand -8.7-99.6 812.3 18.8-0.8-4.1 Brunei 593.1 13.3 6.9 109.0 Malaysia 537.6 136.6 33.6 32.6 5,997.9 136.8 102.7 300.9 Australia 163.6 42.5 0.1 na 2,101.1 49.1-19.6-28.5 Mongolia 85.0 20.7-1.2-5.5 952.2 20.8-0.9-4.1 Total imports 37,043.8 9,049.4 1,713.8 23.4 386,144.4 8,464.4 932.2 12.4 of which: Opec* 19,835.1 4,811.3 628.1 15.0 212,192.3 4,618.7 325.0 7.6 Opec* % 53.2 (Nov) 57 (Oct) 54.6 (YTD 17) 57 (YTD 16) Middle East % 44.9 (Nov) 45.4 (Oct) 43.5 (YTD 17) 48.2 (YTD 16) Africa % 18.6 (Nov) 19.7 (Oct) 19.7 (YTD 17) 17.9 (YTD 16) FSU % 15.1 (Nov) 16 (Oct) 17.7 (YTD 17) 16.5 (YTD 16) Exports by destination 000t 000 b/d ± 000 b/d ±% 000t 000 b/d ± 000 b/d ±% South Korea 1,089.6 23.2 4.5 24.1 Indonesia 84.3 19.9 19.9 na 167.8 3.6 3.6 na US 225.0 4.8 1.0 26.2 Japan 161.7 38.3-22.7-37.2 1,856.9 39.5 14.5 58.1 Singapore 199.2 4.2-0.7-14.2 Malaysia 391.9 8.3 8.3 na Thailand 253.8 60.1 60.1 na 327.7 7.0 4.3 161.0 Philippines 91.4 21.6 21.6 na 187.4 4.0 4.0 na Hong Kong 259.1 61.3 61.3 na 259.1 5.5 5.5 na Total exports 850.3 201.2 140.2 229.8 4,704.6 100.0 45.0 81.8 Net crude imports 36,193.5 8,848.2 1,573.6 21.6 381,439.8 8,364.4 887.2 11.9 Crude production 15,690.0 3,765.6-8.4-0.2 175,638.0 3,786.2-145.1-3.7 Apparent crude demand 51,883.5 12,613.8 1,565.2 14.2 557,077.8 12,150.6 742.1 6.5 Refinery runs 49,429.0 11,096.0-777.0-6.5 518,622.0 11,304.9 598.6 5.6 Unaccounted for crude 2,454.5 1,517.8 2,342.2-284.1 38,455.8 686.6-15.6-2.2 Crude import dependency % 70.1 (Nov) 65.8 (Oct) 68.8 (YTD 17) 65.5 (YTD 16) Net products imports 1,059.2 353.2 115.2 48.4 23,247.7 620.0 9,207.6 148.6 Net petroleum imports 37,252.7 9,201.4 1,688.8 22.5 404,687.5 8,984.4 1,090.0 13.8 Apparent petroleum demand 52,942.7 12,967.0 1,680.4 14.9 580,325.5 12,770.6 944.9 8.0 Petroleum import dependency % 71 (Nov) 66.6 (Oct) 70.4 (YTD 17) 66.8 (YTD 16) *includes Ecuador from Dec '07 and Angola from Jan '07. Back data adjusted to include Ecuador and Angola Apparent crude demand minus refinery runs. This includes storage gains and heavy crude run in specialist 'asphalt factories' which are not officially regarded as refineries Imports and exports data from China General Administration of Customs Page 18 of 46
Crude imports/exports China s crude imports by origin and exports by destination Imports by origin Dec ± Nov YTD ± YTD 17/16 000t 000 b/d ± 000 b/d ±% 000t 000 b/d ± 000 b/d ±% Middle East 14,222.4 3,355.6-709.1-17.4 182,196.3 3,652.3-7.0-0.2 Saudi Arabia 4,709.6 1,109.0 53.0 5.0 52,183.9 1,043.7 26.4 2.6 Iran 2,426.0 569.7 13.4 2.4 31,150.0 621.3-1.2-0.2 Oman 2,608.1 617.5-39.0-5.9 31,009.5 623.6-79.7-11.3 Yemen -66.2-100.0 1,567.4 31.9 23.7 290.4 UAE 690.4 167.5-17.5-9.5 10,162.3 209.4-41.0-16.4 Kuwait 1,736.4 407.2-112.5-21.6 18,244.5 363.4 38.8 12.0 Iraq 1,914.4 451.4-573.4-56.0 36,864.6 738.3 15.0 2.1 Qatar 137.5 33.2 33.2 na 1,014.1 20.8 11.0 112.0 Africa 5,974.9 1,404.9-276.6-16.4 82,499.4 1,645.6 296.6 22.0 Angola 3,171.5 741.7-177.1-19.3 50,429.9 1,001.7 135.0 15.6 Sudan -20.2-99.8 720.7 14.4-6.4-30.9 Congo (Brazzaville) 756.4 178.4-113.4-38.9 8,885.4 178.0 39.3 28.3 Congo (DRC) 590.7 11.8 5.8 96.3 Equatorial Guinea 137.3 32.2-63.3-66.3 2,427.7 48.4 25.2 108.7 Libya 219.5 52.2-84.0-61.7 3,223.0 65.1 44.6 218.0 Nigeria 1,205.0 24.5 7.3 42.5 Algeria 268.8 5.8 5.8 na Chad 586.5 10.9 4.3 65.7 Egypt 181.3 41.7-15.8-27.5 2,083.9 40.7 27.9 218.3 Gabon 251.9 59.8 28.2 89.3 3,811.1 76.8 12.9 20.2 South Africa 546.3 130.1 130.1 na 546.3 11.0 5.7 106.9 Cameroon 134.6 31.1-1.4-4.3 790.8 15.5 7.9 103.8 Ghana 253.1 61.6-0.6-1.0 3,496.8 72.3 19.5 36.9 South Sudan 322.9 76.1 40.9 116.0 3,432.9 68.8-38.4-35.8 FSU/Europe 6,098.4 1,465.4-119.5-7.5 73,442.2 1,495.7 226.8 17.9 Russia 5,030.9 1,209.0-62.5-4.9 59,796.4 1,217.2 151.9 14.3 Kazakhstan 146.0 35.7-56.4-61.3 2,502.1 52.0-15.0-22.4 Norway 274.4 65.8 65.8 na 1,421.8 28.9 12.2 72.9 UK 647.1 154.9-66.5-30.0 8,440.2 171.6 71.1 70.8 Azerbaijan 1,281.7 26.0 6.7 34.7 Americas 6,566.4 1,525.8 118.2 8.4 66,732.8 1,316.1 283.2 27.4 Venezuela 2,167.3 490.8 142.3 40.8 21,770.3 418.7 32.1 8.3 Brazil 2,104.2 492.1 37.6 8.3 23,083.1 458.5 79.4 20.9 Argentina 148.6 34.7-0.3 na 1,425.7 28.3-3.5-11.0 Ecuador 100.6 22.3 22.3 na 1,463.3 27.5 6.1 28.5 Colombia 1,068.8 257.2-23.7-8.4 9,452.1 193.2 13.7 7.6 Canada 586.4 11.9 8.6 265.4 US 835.5 197.0-91.6-31.7 7,654.3 153.3 143.6 1,480.4 Mexico 141.4 31.8 31.8 na 1,297.6 24.7 5.7 30.0 Asia-Pacific 835.5 204.4-106.2-34.2 14,971.2 311.4-1.3-0.4 Indonesia -65.8-100.0 1,485.7 30.0-27.3-47.7 Vietnam 167.2 40.9-4.1-9.1 2,360.6 49.1-39.4-44.5 Thailand 812.3 17.2-1.6-8.5 Brunei 593.1 12.1 4.8 65.5 Malaysia 590.4 145.1 8.6 6.3 6,588.3 137.5 87.4 174.3 Australia -42.5-99.9 2,101.1 44.9-24.1-34.9 Mongolia 77.9 18.4-2.3-11.1 1,030.1 20.6-1.1-5.1 Total imports 33,697.5 7,956.1-1,093.2-12.1 419,841.9 8,421.1 798.3 10.5 of which: Opec* 17,273.2 4,045.0-766.2-15.9 229,465.4 4,570.0 273.9 6.4 Opec* % 50.8 (Dec) 53.2 (Nov) 54.3 (YTD 17) 56.4 (YTD 16) Middle East % 42.2 (Dec) 44.9 (Nov) 43.4 (YTD 17) 48 (YTD 16) Africa % 17.7 (Dec) 18.6 (Nov) 19.5 (YTD 17) 17.7 (YTD 16) FSU % 15.6 (Dec) 15.1 (Nov) 17.8 (YTD 17) 16.6 (YTD 16) Exports by destination 000t 000 b/d ± 000 b/d ±% 000t 000 b/d ± 000 b/d ±% South Korea 1,089.6 21.2 0.5 2.4 Indonesia -19.9-99.8 167.8 3.3 3.3 na US 225.0 4.4 0.9 25.7 Japan 39.1 9.0-29.3-76.6 1,896.0 36.9 14.0 61.3 Singapore 199.2 3.9-0.6-13.3 Malaysia 25.4 5.8 5.8 na 417.3 8.1 8.1 na Thailand -60.1-100.1 327.7 6.4 2.4 60.5 Philippines 94.3 21.6 0.0 0.0 281.7 5.5 5.5 na Hong Kong -61.3-100.0 259.1 5.0 5.0 na Total exports 158.8 36.4-164.8-81.9 4,863.4 94.6 37.5 65.7 Net crude imports 33,538.7 7,919.7-928.4-10.5 414,978.5 8,326.5 760.8 10.1 Crude production 15,984.0 3,712.4-61.6-1.6 191,506.0 3,777.7-150.5-3.8 Apparent crude demand 49,522.7 11,632.1-990.0-7.8 606,484.5 12,104.2 610.3 5.3 Refinery runs 49,111.0 11,564.8-446.2-3.7 518,662.0 11,327.0 574.2 5.3 Unaccounted for crude 411.7 67.3-543.8-89.0 87,822.5 686.6-54.5-7.4 Crude import dependency % 68.1 (Dec) 70.1 (Nov) 68.8 (YTD 17) 65.8 (YTD 16) Net products imports 1,314.2 411.0 66.3 19.2 24,121.0 594.0 5,943.0 137.5 Net petroleum imports 34,852.9 8,330.7-862.1-9.4 439,099.5 8,920.5 922.8 11.5 Apparent petroleum demand 50,836.9 12,043.1-923.7-7.1 630,605.5 12,698.2 772.3 6.5 Petroleum import dependency % 69.2 (Dec) 70.9 (Nov) 70.3 (YTD 17) 67.1 (YTD 16) *includes Ecuador from Dec '07 and Angola from Jan '07. Back data adjusted to include Ecuador and Angola Apparent crude demand minus refinery runs. This includes storage gains and heavy crude run in specialist 'asphalt factories' which are not officially regarded as refineries Imports and exports data from China General Administration of Customs Page 19 of 46
Crude imports in detail Chinese crude imports and exports in detail, Nov Imports by destination (city, province)^ 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t $/bl Northeast 1,336.57 5,437.95 1,336.57 2,237.09 411.39 55.79 Jinzhou, Liaoning 120.00 487.65 120.00 213.97 438.77 59.43 Russia Shenyang, Liaoning 93.13 23.13 39.79 427.21 57.34 31.57 Gabon Shenyang, Liaoning 128.70 31.57 57.91 450.00 61.14 65.30 Libya Shenyang, Liaoning 265.82 65.30 116.27 437.39 59.35 Panjin, Liaoning 199.21 811.17 199.21 334.48 412.35 55.97 Iraq Dalian, Liaoning 111.77 27.23 46.24 413.70 56.59 64.36 Oman Dalian, Liaoning 263.05 64.36 102.75 390.62 53.22 41.99 Russia Dalian, Liaoning 169.09 41.99 73.16 432.65 58.07 24.80 Shenyang, Liaoning 99.87 24.80 41.01 410.65 55.12 33.27 Brazil Dalian, Liaoning 137.66 33.27 55.70 404.61 55.81 7.55 Malaysia Dalian, Liaoning 29.73 7.55 15.62 525.55 68.97 Yingkou, Liaoning 184.53 767.85 184.53 285.48 371.79 51.57 Iraq Dalian, Liaoning 159.12 38.77 65.92 414.26 56.67 36.60 Oman Dalian, Liaoning 149.60 36.60 59.56 398.13 54.24 59.27 Venezuela Dalian, Liaoning 253.28 59.27 80.10 316.24 45.05 32.59 Brazil Dalian, Liaoning 134.84 32.59 49.32 365.76 50.45 17.30 US Dalian, Liaoning 71.01 17.30 30.58 430.68 58.92 Dalian Others, Liaoning 132.28 532.05 132.28 228.54 429.56 57.59 Russia Dalian, Liaoning 464.23 115.28 196.56 423.42 56.83 17.00 UAE Dalian, Liaoning 67.82 17.00 31.98 471.59 62.71 Dalian Eco/Tech/ Dev. Zone, Liaoning 281.70 1,151.04 281.70 466.13 404.97 55.16 Iran Dalian, Liaoning 248.38 60.27 110.54 445.04 61.13 84.83 Iraq Dalian, Liaoning 348.15 84.83 130.60 375.12 51.32 17.44 Oman Dalian, Liaoning 71.27 17.44 28.33 397.43 54.15 24.86 Russia Dalian, Liaoning 100.11 24.86 30.42 303.90 40.79 26.43 Saudi Arabia Dalian, Liaoning 108.63 26.43 44.84 412.79 56.55 34.83 UAE Dalian, Liaoning 138.93 34.83 55.32 398.18 52.95 33.04 US Dalian, Liaoning 135.58 33.04 66.09 487.47 66.69 Shenyang Others, Liaoning 15.61 61.45 15.61 29.92 486.92 63.90 Malaysia Dalian, Liaoning 61.45 15.61 29.92 486.92 63.90 Daqing Others, Heilongjiang 370.68 1,494.18 370.68 618.27 413.79 55.60 Mongolia Hohhot, Inner Mongolia 35.54 8.66 10.12 284.64 38.94 11.12 Manzhouli, Inner Mongolia 45.64 11.12 12.50 273.92 37.47 350.90 Russia Harbin, Heilongjiang 1,413.00 350.90 595.66 421.55 56.58 Huludao, Liaoning 32.57 132.56 32.57 60.29 454.81 61.71 Libya Shenyang, Liaoning 132.56 32.57 60.29 454.81 61.71 Northwest 328.02 1,314.52 328.02 500.54 380.77 50.87 Urumqi High-tech Industrial zone 257.09 1,028.89 257.09 388.60 377.69 50.39 Russia Urumqi, Xinjiang 664.50 165.02 251.38 378.30 50.78 92.07 Kazakhstan Urumqi, Xinjiang 364.39 92.07 137.22 376.58 49.68 Lanzhou Others, Gansu 59.58 239.91 59.58 90.76 378.30 50.78 Russia Lanzhou, Gansu 239.91 59.58 90.76 378.30 50.78 Yinchuan, Ningxia 11.35 45.72 11.35 21.18 463.17 62.17 Russia Yinchuan, Ningxia 45.72 11.35 21.18 463.17 62.17 North 615.43 2,527.14 615.43 1,029.19 407.26 55.74 Cangzhou, Hebei 24.63 99.16 24.63 40.68 410.22 55.06 Russia Qingdao, Shandong 99.16 24.63 40.68 410.22 55.06 Beijing (Fangshan) 114.74 472.79 114.74 202.47 428.26 58.82 Saudi Arabia Tianjin, Tianjin 253.25 61.62 109.24 431.33 59.09 46.23 Brazil Tianjin, Tianjin 191.30 46.23 80.12 418.81 57.77 6.88 US Tianjin, Tianjin 28.24 6.88 13.12 464.69 63.57 Tangshan, Hebei 96.79 398.48 96.79 156.87 393.68 54.03 Iran Shijiazhuang, Hebei 132.32 32.11 53.28 402.64 55.31 33.19 Iraq Shijiazhuang, Hebei 136.20 33.19 51.14 375.45 51.36 31.50 Kuwait Shijiazhuang, Hebei 129.97 31.50 52.46 403.66 55.52 Shijiazhuang Others, Hebei 99.63 409.71 99.63 171.66 418.99 57.43 Kuwait Shijiazhuang, Hebei 131.28 31.81 52.67 401.20 55.19 32.84 Oman Tianjin, Tianjin 134.24 32.84 55.34 412.22 56.16 19.16 Brazil Tianjin, Tianjin 79.28 19.16 33.86 427.14 58.92 15.82 US Tianjin, Tianjin 64.92 15.82 29.80 458.99 62.79 Tianjin (Binhai New Area (Dagang)) 213.15 872.75 213.15 343.94 394.08 53.79 Iraq Shijiazhuang, Hebei 461.18 112.38 184.28 399.57 54.66 32.67 Kuwait Shijiazhuang, Hebei 134.82 32.67 54.06 400.99 55.16 32.68 Saudi Arabia Shijiazhuang, Hebei 134.28 32.68 52.39 390.18 53.45 35.43 Colombia Shijiazhuang, Hebei 142.47 35.43 53.20 373.44 50.06 Beijing (Chaoyang District) 32.63 134.11 32.63 52.06 388.20 53.18 Saudi Arabia Tianjin, Tianjin 134.11 32.63 52.06 388.20 53.18 Tianjin (Tianjin Others) 33.87 140.14 33.87 61.51 438.88 60.54 Brazil Tianjin, Tianjin 140.14 33.87 61.51 438.88 60.54 Page 20 of 46
Crude imports in detail Chinese crude imports and exports in detail, Nov Imports by destination (city, province)^ 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t $/bl East 4,603.47 18,901.77 4,603.47 7,849.26 415.27 56.84 Binzhou, Shandong 101.86 421.85 101.86 175.56 416.17 57.45 Angola Qingdao, Shandong 268.64 64.92 113.33 421.88 58.19 5.28 Venezuela Qingdao, Shandong 22.57 5.28 8.01 355.07 50.58 31.66 Equatorial Guinea Jinan, Shandong 130.63 31.66 54.21 415.01 57.08 Dongying, Shandong 329.81 1,350.20 329.81 545.49 404.01 55.13 Angola Jinan, Shandong 309.48 74.79 103.32 333.85 46.05 0.92 Mongolia Hohhot, Inner Mongolia 3.79 0.92 1.58 416.12 56.93 72.76 Russia Qingdao, Shandong 292.99 72.76 132.54 452.36 60.72 34.97 Brazil Jinan, Shandong 144.72 34.97 49.87 344.57 47.53 12.84 Malaysia Qingdao, Shandong 50.53 12.84 23.42 463.46 60.82 61.43 Congo (Brazzaville) Qingdao, Shandong 252.12 61.43 105.69 419.22 57.35 42.13 Jinan, Shandong 172.91 42.13 70.30 406.53 55.61 29.97 Equatorial Guinea Jinan, Shandong 123.65 29.97 58.78 475.40 65.39 Zibo, Shandong 107.57 442.27 107.57 173.79 392.96 53.86 Angola Jinan, Shandong 339.88 82.14 127.97 376.52 51.93 25.43 Russia Jinan, Shandong 102.39 25.43 45.82 447.52 60.07 Dezhou, Shandong 32.29 133.61 32.29 55.37 414.41 57.16 Brazil Tianjin, Tianjin 133.61 32.29 55.37 414.41 57.16 Heze, Shandong 167.63 680.86 167.63 268.90 394.94 53.47 Oman Qingdao, Shandong 273.80 66.99 109.25 399.01 54.36 33.81 UAE Tianjin, Tianjin 134.89 33.81 60.46 448.22 59.60 37.24 Colombia Qingdao, Shandong 149.76 37.24 48.80 325.88 43.68 29.59 Brazil Qingdao, Shandong 122.42 29.59 50.39 411.62 56.78 Zhoushan, Zhejiang 23.71 96.65 23.71 34.18 353.65 48.05 Indonesia Hangzhou, Zhejiang 96.65 23.71 34.18 353.65 48.05 Ningbo Others, Zhejiang 491.19 2,033.84 491.19 814.89 400.67 55.30 Angola Ningbo, Zhejiang 126.42 30.55 56.22 444.72 61.34 157.91 Iran Ningbo, Zhejiang 650.72 157.91 268.79 413.07 56.74 31.47 Iraq Ningbo, Zhejiang 129.17 31.47 50.41 390.29 53.39 30.49 Kuwait Ningbo, Zhejiang 125.83 30.49 50.32 399.92 55.01 61.60 Oman Ningbo, Zhejiang 251.75 61.60 103.04 409.29 55.76 28.98 Saudi Arabia Ningbo, Zhejiang 119.09 28.98 48.50 407.27 55.79 68.41 Venezuela Ningbo, Zhejiang 292.35 68.41 96.34 329.52 46.94 30.23 Brazil Ningbo, Zhejiang 125.10 30.23 50.81 406.13 56.02 17.62 South Sudan Ningbo, Zhejiang 72.32 17.62 27.76 383.83 52.51 13.68 Egypt Ningbo, Zhejiang 57.57 13.68 26.07 452.93 63.52 20.24 Sudan Ningbo, Zhejiang 83.52 20.24 36.62 438.51 60.32 Qingdao Eco. and Tech. Dev.Zone, Shandong 275.19 1,128.83 275.19 458.58 406.24 55.55 Angola Qingdao, Shandong 177.84 42.98 72.31 406.61 56.08 56.12 Iran Qingdao, Shandong 231.28 56.12 93.11 402.61 55.30 64.80 Iraq Qingdao, Shandong 265.92 64.80 104.29 392.18 53.65 32.42 Kuwait Qingdao, Shandong 133.78 32.42 55.99 418.53 57.57 30.17 Russia Qingdao, Shandong 121.49 30.17 49.86 410.42 55.09 16.60 Colombia Qingdao, Shandong 66.75 16.60 28.09 420.72 56.40 32.11 US Qingdao, Shandong 131.77 32.11 54.93 416.88 57.03 Qingdao Others, Shandong 448.23 1,855.88 448.23 757.48 408.15 56.33 Angola Qingdao, Shandong 472.76 114.25 199.76 422.54 58.28 10.20 Iran Qingdao, Shandong 42.05 10.20 16.88 401.32 55.13 34.13 Kuwait Qingdao, Shandong 140.82 34.13 56.19 399.02 54.89 33.94 Saudi Arabia Qingdao, Shandong 139.48 33.94 55.35 396.81 54.36 95.35 Venezuela Qingdao, Shandong 407.49 95.35 143.40 351.91 50.13 34.15 Colombia Qingdao, Shandong 137.33 34.15 56.13 408.72 54.79 61.34 US Qingdao, Shandong 251.74 61.34 116.64 463.35 63.39 31.77 Congo (Brazzaville) Qingdao, Shandong 130.39 31.77 54.06 414.60 56.72 33.10 Yemen Qingdao, Shandong 133.83 33.10 59.08 441.49 59.50 Rizhao, Shandong 900.14 3,702.47 900.14 1,576.37 425.76 58.38 Angola Qingdao, Shandong 336.71 81.37 151.33 449.45 61.99 112.05 Iran Qingdao, Shandong 461.76 112.05 194.98 422.26 58.00 91.13 Oman Qingdao, Shandong 372.48 91.13 157.79 423.63 57.72 24.78 Russia Qingdao, Shandong 99.79 24.78 43.94 440.37 59.11 92.62 Saudi Arabia Qingdao, Shandong 380.63 92.62 166.90 438.47 60.06 61.47 Venezuela Qingdao, Shandong 262.69 61.47 84.51 321.70 45.83 130.25 Brazil Qingdao, Shandong 538.94 130.25 226.86 420.93 58.06 125.28 UK Qingdao, Shandong 506.52 125.28 229.02 452.14 60.94 39.33 US Qingdao, Shandong 161.40 39.33 74.90 464.07 63.48 35.03 Argentina Qingdao, Shandong 145.16 35.03 62.54 430.83 59.51 73.73 Congo (Brazzaville) Qingdao, Shandong 302.59 73.73 124.53 411.54 56.30 33.10 Yemen Qingdao, Shandong 133.83 33.10 59.08 441.49 59.50 Shanghai (Pudong New Area) 195.95 800.49 195.95 352.35 440.16 59.94 Page 21 of 46
Crude imports in detail Chinese crude imports and exports in detail, Nov Imports by destination (city, province)^ 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t $/bl Angola Ningbo, Zhejiang 131.05 31.67 59.27 452.24 62.38 59.25 Hangzhou, Zhejiang 245.15 59.25 113.71 463.85 63.98 30.63 Iraq Hangzhou, Zhejiang 125.69 30.63 54.26 431.68 59.05 37.16 Colombia Hangzhou, Zhejiang 149.44 37.16 56.81 380.16 50.96 20.94 Vietnam Hangzhou, Zhejiang 82.78 20.94 38.15 460.85 60.72 16.31 Libya Hangzhou, Zhejiang 66.39 16.31 30.16 454.19 61.63 Weifang Other, Shandong 371.83 1,523.57 371.83 679.27 445.84 60.90 Angola Jinan, Shandong 255.01 61.63 116.01 454.93 62.75 65.56 Kuwait Jinan, Shandong 270.54 65.56 124.93 461.77 63.52 32.12 Oman Jinan, Shandong 131.27 32.12 47.56 362.28 49.36 93.70 Russia Jinan, Shandong 377.30 93.70 172.96 458.40 61.53 32.25 UK Jinan, Shandong 130.37 32.25 59.58 456.98 61.59 32.49 Cameroon Jinan, Shandong 136.33 32.49 60.56 444.24 62.13 20.18 Congo (Brazzaville) Jinan, Shandong 82.82 20.18 34.56 417.24 57.08 33.91 Equatorial Guinea Jinan, Shandong 139.92 33.91 63.12 451.13 62.05 Yantai Others, Shandong 13.70 55.82 13.70 23.88 427.81 58.13 Indonesia Qingdao, Shandong 55.82 13.70 23.88 427.81 58.13 Longkou, Shandong 161.63 650.41 161.63 272.89 419.57 56.28 Oman Qingdao, Shandong 100.70 24.64 36.75 364.88 49.71 84.48 Russia Qingdao, Shandong 340.17 84.48 142.24 418.14 56.13 32.52 Malaysia Qingdao, Shandong 128.04 32.52 58.54 457.23 60.00 20.00 Indonesia Qingdao, Shandong 81.50 20.00 35.37 433.94 58.96 Nanjing Others, Jiangsu 480.32 1,970.57 480.32 806.44 409.24 55.97 Iran Ningbo, Zhejiang 262.23 63.64 106.36 405.59 55.71 131.59 Iraq Ningbo, Zhejiang 540.02 131.59 222.31 411.67 56.32 103.24 Hangzhou, Zhejiang 423.70 103.24 171.36 404.43 55.33 21.17 Kuwait Ningbo, Zhejiang 87.34 21.17 34.93 399.92 55.01 32.00 Oman Ningbo, Zhejiang 130.77 32.00 54.92 420.00 57.22 31.95 Hangzhou, Zhejiang 130.57 31.95 54.84 420.00 57.22 66.42 Saudi Arabia Ningbo, Zhejiang 272.97 66.42 116.08 425.23 58.25 11.48 Hangzhou, Zhejiang 47.19 11.48 18.42 390.30 53.47 18.84 Colombia Hangzhou, Zhejiang 75.78 18.84 27.23 359.38 48.18 Shanghai (Jinshan) 266.92 1,091.16 266.92 447.41 410.03 55.87 Iraq Hangzhou, Zhejiang 257.00 62.62 98.78 384.37 52.58 29.09 Kuwait Ningbo, Zhejiang 120.04 29.09 48.10 400.65 55.11 32.00 Oman Ningbo, Zhejiang 130.77 32.00 53.90 412.17 56.15 31.95 Hangzhou, Zhejiang 130.57 31.95 54.06 414.02 56.41 31.85 Saudi Arabia Ningbo, Zhejiang 130.90 31.85 55.94 427.38 58.55 28.72 Hangzhou, Zhejiang 118.04 28.72 50.48 427.66 58.58 50.69 Colombia Hangzhou, Zhejiang 203.84 50.69 86.15 422.61 56.65 Shanghai (Pudong Others) 47.13 194.86 47.13 78.41 402.38 55.45 Kuwait Ningbo, Zhejiang 62.18 15.07 23.88 384.01 52.82 32.06 Brazil Ningbo, Zhejiang 132.68 32.06 54.53 411.00 56.69 Nanjing Pukou high-tech export 87.96 359.86 87.96 145.65 404.75 55.20 Iraq Hangzhou, Zhejiang 138.29 33.70 53.81 389.08 53.23 19.21 Saudi Arabia Hangzhou, Zhejiang 78.93 19.21 32.18 407.71 55.85 14.96 Colombia Hangzhou, Zhejiang 60.18 14.96 21.48 356.92 47.84 20.09 US Hangzhou, Zhejiang 82.45 20.09 38.19 463.11 63.35 Ningbo Economic/Technological 31.75 131.38 31.75 57.60 438.45 60.48 Angola Ningbo, Zhejiang 131.38 31.75 57.60 438.45 60.48 Xuzhou, Jiangsu 63.82 258.03 63.82 115.49 447.59 60.32 UK Tianjin, Tianjin 258.03 63.82 115.49 447.59 60.32 Huaian, Jiangsu 4.85 19.17 4.85 9.26 482.84 63.62 Vietnam Hangzhou, Zhejiang 19.17 4.85 9.26 482.84 63.62 South 1,732.99 7,098.15 1,732.99 2,919.32 411.28 56.15 Beihai, Guangxi 35.83 144.07 35.83 58.93 409.01 54.83 Colombia Zhanjiang, Guangdong 144.07 35.83 58.93 409.01 54.83 Maoming, Guangdong 318.04 1,309.26 318.04 533.53 407.51 55.92 Angola Zhanjiang, Guangdong 134.61 32.53 54.85 407.48 56.20 64.04 Iran Zhanjiang, Guangdong 263.91 64.04 101.33 383.98 52.74 62.80 Kuwait Zhanjiang, Guangdong 259.16 62.80 102.56 395.73 54.43 32.27 Oman Zhanjiang, Guangdong 131.88 32.27 48.91 370.87 50.53 31.44 Saudi Arabia Zhanjiang, Guangdong 129.19 31.44 55.01 425.84 58.33 13.74 Egypt Zhanjiang, Guangdong 57.82 13.74 26.05 450.45 63.18 62.52 Congo (Brazzaville) Zhanjiang, Guangdong 256.59 62.52 109.13 425.32 58.18 18.70 Libya Zhanjiang, Guangdong 76.10 18.70 35.68 468.90 63.62 Qinzhou, Guangxi 136.34 556.73 136.34 232.54 417.69 56.85 Kuwait Nanning, Guangxi 145.33 35.22 58.22 400.57 55.10 66.52 Saudi Arabia Nanning, Guangxi 273.36 66.52 112.24 410.61 56.25 34.60 UAE Nanning, Guangxi 138.04 34.60 62.08 449.73 59.80 Page 22 of 46
Crude imports in detail Chinese crude imports and exports in detail, Nov Imports by destination (city, province)^ 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t $/bl Guangzhou Others, Guangdong 271.99 1,118.87 271.99 450.62 402.75 55.23 Angola Huangpu, Guangdong 125.60 30.35 51.50 410.00 56.55 31.75 Shenzhen, Guangdong 131.38 31.75 53.73 408.98 56.41 31.68 Iraq Huangpu, Guangdong 130.00 31.68 53.30 410.00 56.09 33.24 Shenzhen, Guangdong 136.43 33.24 52.89 387.67 53.03 24.81 Saudi Arabia Huangpu, Guangdong 101.97 24.81 39.26 385.00 52.74 70.92 Shenzhen, Guangdong 291.46 70.92 112.50 386.00 52.88 17.62 South Sudan Shenzhen, Guangdong 72.32 17.62 27.76 383.83 52.51 31.61 US Shenzhen, Guangdong 129.71 31.61 59.68 460.12 62.94 Huizhou Others, Guangdong 323.87 1,322.41 323.87 539.68 408.11 55.55 Angola Shenzhen, Guangdong 523.34 126.48 211.62 404.36 55.77 66.95 Kuwait Shenzhen, Guangdong 276.27 66.95 113.71 411.58 56.61 24.78 Russia Shenzhen, Guangdong 99.78 24.78 43.41 435.08 58.40 63.12 Saudi Arabia Shenzhen, Guangdong 259.38 63.12 105.73 407.62 55.84 42.55 Australia Shenzhen, Guangdong 163.64 42.55 65.22 398.55 51.10 Zhangjiang, Guangdong 141.87 569.03 141.87 257.15 451.91 60.42 UAE Zhanjiang, Guangdong 133.73 33.52 61.48 459.71 61.13 6.60 Vietnam Zhanjiang, Guangdong 26.07 6.60 11.97 458.90 60.46 62.19 Ghana Zhanjiang, Guangdong 247.13 62.19 109.47 442.99 58.67 31.15 US Zhanjiang, Guangdong 127.83 31.15 58.94 461.08 63.08 8.41 Indonesia Zhanjiang, Guangdong 34.28 8.41 15.30 446.30 60.64 Quanzhou, Fujian 475.56 1,951.65 475.56 810.37 415.22 56.80 Iraq Xiamen, Fujian 843.29 205.48 339.39 402.46 55.06 68.69 Oman Xiamen, Fujian 280.73 68.69 122.40 436.02 59.40 201.39 Saudi Arabia Xiamen, Fujian 827.63 201.39 348.58 421.18 57.70 Foshan, Guangdong 29.51 126.12 29.51 36.50 289.42 41.23 Venezuela Ningbo, Zhejiang 126.12 29.51 36.50 289.42 41.23 Central 239.43 972.38 239.43 448.62 461.36 62.46 Yueyang, Hunan 45.98 189.81 45.98 88.54 466.47 64.19 Vietnam Hangzhou, Zhejiang 49.84 12.61 23.81 477.73 62.94 30.11 Egypt Hangzhou, Zhejiang 126.70 30.11 58.70 463.33 64.98 3.26 Libya Hangzhou, Zhejiang 13.28 3.26 6.03 454.18 61.63 Puyang, Henan 22.41 92.72 22.41 39.78 429.03 59.18 Angola Qingdao, Shandong 92.72 22.41 39.78 429.03 59.18 Yan'an, Shaanxi 141.79 564.85 141.79 275.91 488.46 64.86 Russia Qingdao, Shandong 296.96 73.74 141.91 477.88 64.15 68.05 Malaysia Qingdao, Shandong 267.89 68.05 134.00 500.19 65.64 Jingzhou, Hubei 29.25 125.00 29.25 44.39 355.09 50.58 Venezuela Qingdao, Shandong 125.00 29.25 44.39 355.09 50.58 Other 0.14 0.55 0.14 0.21 379.75 50.96 Various 0.14 0.55 0.14 0.21 379.75 50.96 Various small cargoes 0.55 0.14 0.21 379.75 50.96 Southwest 193.35 791.37 193.35 345.48 436.55 59.56 Kunming Others, Yunnan 193.35 791.37 193.35 345.48 436.55 59.56 Kuwait Kunming, Yunnan 127.26 30.84 54.89 431.33 59.33 131.25 Saudi Arabia Kunming, Yunnan 539.39 131.25 237.28 439.91 60.26 31.26 UAE Kunming, Yunnan 124.72 31.26 53.30 427.36 56.83 Total imports 9,049.40 37,043.83 9,049.40 15,329.70 413.83 56.47 Exports by origin (City, Province)^ 000 b/d Destination Departure customs 000t 000 b/d $mn $/t $/bl Northeast 35.70 150.85 35.70 53.76 356.38 50.20 Dalian Eco. / Tech.Dev. Zone, Liaoning 35.70 150.85 35.70 53.76 356.38 50.20 Japan Dalian,Liaoning 150.85 35.70 53.76 356.38 50.20 East 22.52 95.13 22.52 30.94 325.20 45.80 Zhoushan, Zhejiang 22.52 95.13 22.52 30.94 325.20 45.80 Indonesia Hangzhou,Zhejiang 84.29 19.95 26.65 316.19 44.53 2.57 Japan Hangzhou,Zhejiang 10.84 2.57 4.29 395.19 55.66 South 143.02 604.33 143.02 256.10 423.77 59.69 Yangpu Eco. Dev. Zone, Hainan 143.02 604.33 143.02 256.10 423.77 59.69 Thailand Haikou,Hainan 253.78 60.06 112.77 444.36 62.59 61.33 Hong Kong Haikou,Hainan 259.13 61.33 102.76 396.55 55.85 21.64 Philippines Haikou,Hainan 91.42 21.64 40.57 443.80 62.51 Total exports 201.24 850.32 201.24 340.80 400.79 56.45 Net imports 8,848.16 ^ Destination (for imports) and origin (exports) in the customs entry usually refers to the shipment s final destination, but occasionally indicates an intermediate point. Yangtze river delta destinations. Considerable volumes of crude designated as being for Yangtze delta destinations in the customs data end up at mid- Yangtze refineries. Pearl river delta destinations. Imports and exports data from China General Administration of Customs Page 23 of 46
Crude imports in detail Chinese crude imports and exports in detail, Dec Imports by destination (city, province)^ 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t $/bl Northeast 1,182.85 4,962.16 1,182.85 2,235.42 450.49 60.96 Jinzhou, Liaoning 40.60 169.69 40.60 82.63 486.92 65.65 Russia Shenyang, Liaoning 99.88 24.00 47.20 472.57 63.43 16.60 Libya Shenyang, Liaoning 69.82 16.60 35.43 507.46 68.86 Panjin, Liaoning 145.33 611.60 145.33 283.16 462.99 62.85 Russia Dalian, Liaoning 99.89 24.01 50.40 504.57 67.73 30.22 Saudi Arabia Dalian, Liaoning 128.35 30.22 57.20 445.70 61.06 34.52 UAE Dalian, Liaoning 142.31 34.52 65.75 462.02 61.44 32.11 Brazil Dalian, Liaoning 137.28 32.11 60.28 439.06 60.56 24.47 US Dalian, Liaoning 103.77 24.47 49.53 477.31 65.30 Yingkou, Liaoning 176.38 753.23 176.38 315.90 419.40 57.77 Venezuela Dalian, Liaoning 259.15 58.69 85.55 330.11 47.02 19.74 Colombia Dalian, Liaoning 82.03 19.74 30.89 376.51 50.47 32.19 Brazil Dalian, Liaoning 137.62 32.19 63.93 464.56 64.08 65.77 Norway Dalian, Liaoning 274.42 65.77 135.54 493.89 66.47 Dalian Others, Liaoning 238.02 998.76 238.02 458.43 459.00 62.13 Russia Dalian, Liaoning 459.83 110.51 214.33 466.10 62.56 33.19 UAE Dalian, Liaoning 136.82 33.19 63.14 461.45 61.36 33.82 Venezuela Dalian, Liaoning 149.34 33.82 52.55 351.90 50.13 60.50 UK Dalian, Liaoning 252.76 60.50 128.41 508.03 68.47 Dalian Eco. and Tech. Dev. Zone, Liaoning 209.98 876.52 209.98 385.94 440.30 59.29 Russia Dalian, Liaoning 99.98 24.03 46.07 460.78 61.85 71.01 Saudi Arabia Dalian, Liaoning 301.54 71.01 128.76 427.00 58.49 68.16 UAE Dalian, Liaoning 280.97 68.16 129.82 462.06 61.45 13.60 Colombia Dalian, Liaoning 56.50 13.60 18.11 320.50 42.96 33.19 Qatar Dalian, Liaoning 137.55 33.19 63.18 459.36 61.41 Daqing Others, Heilongjiang 355.95 1,482.54 355.95 673.94 454.58 61.08 Mongolia Hohhot, Inner Mongolia 34.88 8.23 10.37 297.39 40.68 9.59 Manzhouli, Inner Mongolia 40.66 9.59 11.74 288.79 39.51 338.13 Russia Harbin, Heilongjiang 1,407.00 338.13 651.82 463.27 62.18 Huludao, Liaoning 16.60 69.82 16.60 35.43 507.46 68.86 Libya Shenyang, Liaoning 69.82 16.60 35.43 507.46 68.86 Northwest 242.79 1,007.72 242.79 423.41 420.16 56.26 Urumqi High-tech Ind. Dev. Zone, Xinjiang 151.90 629.52 151.90 261.41 415.25 55.51 Russia Urumqi, Xinjiang 483.56 116.21 201.77 417.27 56.01 35.69 Kazakhstan Urumqi, Xinjiang 145.96 35.69 59.64 408.57 53.90 Lanzhou Others, Gansu 79.95 332.66 79.95 138.81 417.27 56.01 Russia Lanzhou, Gansu 332.66 79.95 138.81 417.27 56.01 Yinchuan, Ningxia 10.95 45.54 10.95 23.19 509.11 68.34 Russia Yinchuan, Ningxia 45.54 10.95 23.19 509.11 68.34 North 609.06 2,579.12 609.06 1,158.79 449.30 61.37 Cangzhou, Hebei 30.04 128.43 30.04 58.79 457.73 63.14 Angola Tianjin, Tianjin 128.43 30.04 58.79 457.73 63.14 Beijing (Fangshan) 177.05 752.17 177.05 339.62 451.52 61.88 Iran Tianjin, Tianjin 262.69 61.69 115.59 440.04 60.45 7.04 Kuwait Shijiazhuang, Hebei 30.00 7.04 13.25 441.63 60.75 16.80 Russia Tianjin, Tianjin 69.88 16.80 33.92 485.44 65.16 61.06 Saudi Arabia Shijiazhuang, Hebei 259.30 61.06 116.53 449.41 61.56 30.47 Brazil Tianjin, Tianjin 130.30 30.47 60.32 462.95 63.85 Shijiazhuang Others, Hebei 90.98 388.42 90.98 182.34 469.44 64.65 Kuwait Shijiazhuang, Hebei 95.74 22.45 42.28 441.64 60.75 31.57 Oman Tianjin, Tianjin 133.35 31.57 61.23 459.21 62.56 7.21 Russia Tianjin, Tianjin 30.00 7.21 14.56 485.43 65.16 29.75 Egypt Tianjin, Tianjin 129.34 29.75 64.26 496.86 69.69 Tianjin (Binhai New Area (Dagang)) 217.35 917.86 217.35 402.91 438.97 59.80 Iraq Shijiazhuang, Hebei 278.99 65.79 123.37 442.19 60.49 26.34 Kuwait Shijiazhuang, Hebei 112.30 26.34 49.60 441.63 60.75 60.29 Saudi Arabia Shijiazhuang, Hebei 256.01 60.29 109.87 429.16 58.79 34.41 Colombia Shijiazhuang, Hebei 143.00 34.41 57.14 399.60 53.57 30.53 UK Tianjin, Tianjin 127.56 30.53 62.94 493.39 66.49 Beijing (Chaoyang District) 62.02 261.94 62.02 113.93 434.94 59.26 Oman Tianjin, Tianjin 261.94 62.02 113.93 434.94 59.26 Page 24 of 46
Chinese crude imports and exports in detail, Dec Imports by destination (city, province)^ 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t $/bl Hebei Others, Hebei 31.61 130.30 31.61 61.21 469.75 62.47 UAE Tianjin, Tianjin 130.30 31.61 61.21 469.75 62.47 East 3,888.82 16,503.58 3,888.82 7,237.21 438.52 60.03 Dongying, Shandong 454.62 1,919.73 454.62 830.63 432.68 58.94 Angola Qingdao, Shandong 466.90 109.19 211.92 453.88 62.61 64.93 Jinan, Shandong 277.62 64.93 100.15 360.74 49.76 30.01 Oman Jinan, Shandong 126.73 30.01 45.84 361.72 49.28 41.99 Russia Qingdao, Shandong 174.71 41.99 79.65 455.89 61.19 19.92 Jinan, Shandong 82.89 19.92 43.19 521.10 69.95 32.96 Brazil Qingdao, Shandong 140.92 32.96 58.44 414.73 57.20 31.51 Jinan, Shandong 134.72 31.51 53.11 394.25 54.38 68.77 Malaysia Qingdao, Shandong 279.77 68.77 132.45 473.41 62.13 23.15 Congo (Brazzaville) Jinan, Shandong 98.16 23.15 47.89 487.90 66.75 32.20 Equatorial Guinea Qingdao, Shandong 137.31 32.20 57.99 422.31 58.09 Zibo, Shandong 27.62 118.04 27.62 52.45 444.32 61.25 Angola Jinan, Shandong 95.71 22.38 42.11 439.94 60.68 4.69 Kuwait Qingdao, Shandong 20.00 4.69 9.36 468.02 64.38 0.55 Mongolia Hohhot, Inner Mongolia 2.34 0.55 0.98 420.81 57.56 Dezhou, Shandong 93.99 401.88 93.99 173.85 432.58 59.67 Brazil Tianjin, Tianjin 265.42 62.07 119.92 451.83 62.32 31.92 Qingdao, Shandong 136.47 31.92 53.92 395.15 54.50 Heze, Shandong 184.04 776.73 184.04 321.98 414.53 56.44 Colombia Qingdao, Shandong 290.12 69.82 110.24 379.96 50.93 63.49 Brazil Qingdao, Shandong 271.49 63.49 118.90 437.96 60.41 31.87 US Qingdao, Shandong 135.16 31.87 56.46 417.70 57.14 18.85 Congo (Brazzaville) Qingdao, Shandong 79.96 18.85 36.38 455.03 62.25 Ningbo Others, Zhejiang 477.93 2,042.55 477.93 885.19 433.37 59.75 Angola Ningbo, Zhejiang 260.55 60.93 118.41 454.45 62.68 183.63 Iran Ningbo, Zhejiang 781.94 183.63 357.44 457.13 62.79 29.69 Iraq Ningbo, Zhejiang 125.91 29.69 54.31 431.35 59.01 31.65 Kuwait Ningbo, Zhejiang 134.96 31.65 58.03 429.99 59.15 61.89 Oman Ningbo, Zhejiang 261.38 61.89 114.72 438.91 59.80 29.39 Saudi Arabia Ningbo, Zhejiang 124.82 29.39 55.63 445.68 61.05 60.23 Venezuela Ningbo, Zhejiang 265.97 60.23 89.01 334.67 47.67 20.52 South Sudan Ningbo, Zhejiang 87.04 20.52 37.63 432.39 59.15 Qingdao Eco. and Tech. Dev.Zone, Shandong 270.10 1,147.37 270.10 504.32 439.55 60.23 Iran Qingdao, Shandong 232.12 54.51 102.02 439.53 60.38 64.14 Iraq Qingdao, Shandong 271.99 64.14 121.31 446.02 61.02 62.84 Kuwait Qingdao, Shandong 267.95 62.84 118.03 440.49 60.59 24.69 Russia Qingdao, Shandong 102.72 24.69 44.28 431.13 57.87 17.18 Colombia Qingdao, Shandong 71.39 17.18 28.87 404.40 54.21 15.70 US Qingdao, Shandong 66.56 15.70 29.61 444.93 60.87 31.06 Cameroon Qingdao, Shandong 134.64 31.06 60.19 447.00 62.52 Qingdao Others, Shandong 421.27 1,797.17 421.27 799.48 444.86 61.22 Angola Qingdao, Shandong 372.05 87.01 177.39 476.81 65.77 10.22 Iran Qingdao, Shandong 43.52 10.22 19.13 439.54 60.38 61.46 Kuwait Qingdao, Shandong 262.06 61.46 115.44 440.49 60.59 43.32 Russia Qingdao, Shandong 180.28 43.32 85.73 475.54 63.83 64.73 Venezuela Qingdao, Shandong 285.86 64.73 100.82 352.71 50.24 34.70 Colombia Qingdao, Shandong 144.18 34.70 63.81 442.55 59.32 31.10 Brazil Qingdao, Shandong 132.96 31.10 61.75 464.43 64.06 28.06 US Qingdao, Shandong 119.00 28.06 58.99 495.72 67.81 60.66 Congo (Brazzaville) Qingdao, Shandong 257.26 60.66 116.42 452.54 61.91 Rizhao, Shandong 711.39 3,021.36 711.39 1,334.09 441.55 60.49 Angola Qingdao, Shandong 536.87 125.56 244.46 455.35 62.81 14.17 Iran Qingdao, Shandong 60.36 14.17 26.50 439.12 60.32 124.07 Oman Qingdao, Shandong 523.99 124.07 237.43 453.13 61.73 75.91 Russia Qingdao, Shandong 315.86 75.91 140.34 444.32 59.64 61.02 Saudi Arabia Qingdao, Shandong 259.14 61.02 116.65 450.14 61.66 61.18 Venezuela Qingdao, Shandong 270.18 61.18 90.57 335.20 47.75 91.20 Brazil Qingdao, Shandong 389.96 91.20 176.99 453.88 62.60 30.71 Gabon Qingdao, Shandong 129.33 30.71 53.08 410.38 55.76 63.85 UK Qingdao, Shandong 266.75 63.85 130.44 488.99 65.90 31.00 Congo (Brazzaville) Qingdao, Shandong 131.47 31.00 59.21 450.38 61.61 Page 25 of 46
Chinese crude imports and exports in detail, Dec Imports by destination (city, province)^ 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t $/bl 32.72 South Africa Qingdao, Shandong 137.46 32.72 58.42 424.99 57.59 Shanghai (Pudong New Area) 69.57 290.25 69.57 137.79 474.72 63.89 Iraq Hangzhou, Zhejiang 81.15 19.14 35.07 432.17 59.12 31.80 Vietnam Hangzhou, Zhejiang 129.87 31.80 64.59 497.37 65.53 5.98 Egypt Hangzhou, Zhejiang 26.00 5.98 12.36 475.24 66.65 12.65 Libya Hangzhou, Zhejiang 53.22 12.65 25.76 484.08 65.68 Weifang Other, Shandong 205.61 863.36 205.61 395.18 457.73 62.00 Angola Jinan, Shandong 254.49 59.52 112.12 440.56 60.77 43.16 Russia Qingdao, Shandong 179.58 43.16 87.56 487.60 65.45 30.13 Jinan, Shandong 125.37 30.13 58.90 469.78 63.06 27.93 Malaysia Qingdao, Shandong 113.64 27.93 55.60 489.21 64.20 32.68 US Jinan, Shandong 138.60 32.68 61.64 444.70 60.84 12.19 Congo (Brazzaville) Jinan, Shandong 51.68 12.19 19.38 375.01 51.30 Yantai Others, Shandong 111.56 481.34 111.56 191.22 397.27 55.29 Venezuela Qingdao, Shandong 278.00 62.95 103.20 371.21 52.88 16.09 Malaysia Qingdao, Shandong 65.45 16.09 32.09 490.35 64.35 32.52 Congo (Brazzaville) Qingdao, Shandong 137.89 32.52 55.93 405.62 55.49 Longkou, Shandong 114.17 483.75 114.17 190.64 394.10 53.87 Oman Qingdao, Shandong 101.32 23.99 36.56 360.86 49.16 62.04 Russia Qingdao, Shandong 258.15 62.04 112.35 435.20 58.42 28.14 Venezuela Qingdao, Shandong 124.28 28.14 41.74 335.82 47.84 Nanjing Others, Jiangsu 331.91 1,404.05 331.91 633.56 451.24 61.58 Iran Ningbo, Zhejiang 261.46 61.40 118.17 451.96 62.08 97.17 Iraq Ningbo, Zhejiang 412.08 97.17 179.26 435.01 59.51 20.65 Hangzhou, Zhejiang 87.59 20.65 40.32 460.38 62.98 16.41 Kuwait Ningbo, Zhejiang 69.95 16.41 30.85 440.97 60.66 30.82 Oman Ningbo, Zhejiang 130.17 30.82 59.74 458.90 62.52 47.83 Hangzhou, Zhejiang 202.01 47.83 92.83 459.51 62.60 46.00 Russia Ningbo, Zhejiang 191.40 46.00 91.40 477.54 64.10 11.63 Saudi Arabia Hangzhou, Zhejiang 49.39 11.63 21.00 425.24 58.25 Shanghai (Jinshan) 288.74 1,222.28 288.74 541.65 443.15 60.51 Iraq Ningbo, Zhejiang 286.08 67.46 124.53 435.31 59.55 24.42 Hangzhou, Zhejiang 103.54 24.42 46.82 452.17 61.86 45.93 Kuwait Ningbo, Zhejiang 195.86 45.93 86.37 440.98 60.66 30.82 Oman Ningbo, Zhejiang 130.17 30.82 60.21 462.55 63.02 17.51 Hangzhou, Zhejiang 73.93 17.51 33.64 454.95 61.98 30.99 Saudi Arabia Ningbo, Zhejiang 131.61 30.99 58.66 445.69 61.05 38.56 Hangzhou, Zhejiang 163.75 38.56 71.96 439.44 60.20 33.05 Colombia Hangzhou, Zhejiang 137.34 33.05 59.47 433.01 58.04 Shanghai (Pudong Others) 52.03 219.71 52.03 102.08 464.62 63.29 Angola Ningbo, Zhejiang 119.93 28.05 53.61 447.00 61.66 23.98 Russia Ningbo, Zhejiang 99.78 23.98 48.47 485.80 65.21 Nanjing Pukou high-tech, Jiangsu 42.72 180.69 42.72 81.87 453.10 61.82 Oman Qingdao, Shandong 130.43 30.88 59.79 458.37 62.45 11.83 Saudi Arabia Hangzhou, Zhejiang 50.26 11.83 22.08 439.43 60.20 Xuzhou, Jiangsu 31.57 133.35 31.57 61.23 459.21 62.56 Oman Tianjin, Tianjin 133.35 31.57 61.23 459.21 62.56 South 1,661.14 7,076.52 1,661.14 3,141.49 443.93 61.01 Beihai, Guangxi 92.92 396.21 92.92 181.77 458.76 63.11 Angola Zhanjiang, Guangdong 134.19 31.38 60.80 453.09 62.50 61.53 Iran Zhanjiang, Guangdong 262.02 61.53 120.97 461.67 63.42 Maoming, Guangdong 339.32 1,451.86 339.32 648.07 446.37 61.61 Angola Zhanjiang, Guangdong 131.22 30.69 58.03 442.22 61.00 92.28 Iran Zhanjiang, Guangdong 392.93 92.28 170.09 432.88 59.46 31.65 Kuwait Zhanjiang, Guangdong 134.95 31.65 58.63 434.47 59.76 30.95 Oman Zhanjiang, Guangdong 130.72 30.95 52.61 402.45 54.83 60.93 Saudi Arabia Zhanjiang, Guangdong 258.75 60.93 121.44 469.33 64.29 20.48 South Sudan Zhanjiang, Guangdong 86.87 20.48 40.27 463.57 63.42 33.82 US Zhanjiang, Guangdong 143.41 33.82 75.70 527.83 72.21 22.25 Ecuador Zhanjiang, Guangdong 100.56 22.25 43.65 434.04 63.27 16.27 Mexico Zhanjiang, Guangdong 72.46 16.27 27.66 381.75 54.85 Qinzhou, Guangxi 214.62 910.52 214.62 418.34 459.45 62.88 Oman Nanning, Guangxi 137.91 32.65 64.30 466.29 63.53 160.51 Saudi Arabia Nanning, Guangxi 681.62 160.51 314.70 461.69 63.25 Page 26 of 46
Chinese crude imports and exports in detail, Dec Imports by destination (city, province)^ 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t $/bl 21.46 South Sudan Nanning, Guangxi 90.99 21.46 39.34 432.36 59.15 Guangzhou Others, Guangdong 278.42 1,182.08 278.42 519.07 439.12 60.14 Angola Shenzhen, Guangdong 125.52 29.36 62.31 496.40 68.47 62.98 Iraq Huangpu, Guangdong 267.09 62.98 112.18 420.00 57.46 16.29 Oman Huangpu, Guangdong 68.80 16.29 28.90 420.00 57.22 14.66 Shenzhen, Guangdong 61.92 14.66 24.93 402.67 54.86 91.25 Saudi Arabia Shenzhen, Guangdong 387.51 91.25 175.90 453.92 62.18 34.71 Colombia Shenzhen, Guangdong 144.22 34.71 63.83 442.55 59.32 13.68 South Sudan Shenzhen, Guangdong 58.03 13.68 25.09 432.38 59.15 15.49 Mexico Shenzhen, Guangdong 68.98 15.49 25.94 376.09 54.04 Huizhou Others, Guangdong 188.43 803.13 188.43 350.28 436.15 59.97 Angola Shenzhen, Guangdong 268.02 62.68 115.09 429.39 59.23 62.26 Kuwait Shenzhen, Guangdong 265.48 62.26 115.79 436.16 59.99 63.49 Saudi Arabia Shenzhen, Guangdong 269.63 63.49 119.41 442.85 60.66 Zhangjiang, Guangdong 211.70 899.70 211.70 396.03 440.18 60.35 Iran Zhanjiang, Guangdong 128.94 30.28 52.09 404.01 55.50 60.27 Venezuela Zhanjiang, Guangdong 266.14 60.27 94.09 353.54 50.36 29.09 Gabon Zhanjiang, Guangdong 122.54 29.09 60.78 495.98 67.39 61.64 Ghana Zhanjiang, Guangdong 253.09 61.64 124.14 490.47 64.96 30.42 US Zhanjiang, Guangdong 128.99 30.42 64.93 503.39 68.86 Quanzhou, Fujian 243.38 1,029.60 243.38 474.99 461.34 62.96 Russia Xiamen, Fujian 191.21 45.95 95.52 499.54 67.05 197.43 Saudi Arabia Xiamen, Fujian 838.39 197.43 379.48 452.62 62.00 Zhuhai zone, Guangdong 92.36 403.43 92.36 152.94 379.10 53.42 Venezuela Qingdao, Shandong 268.41 60.78 91.69 341.62 48.66 31.58 Brazil Dalian, Liaoning 135.02 31.58 61.25 453.62 62.57 Central 207.34 870.96 207.34 401.38 460.85 62.45 Yueyang, Hunan 21.44 89.92 21.44 44.26 492.19 66.59 Vietnam Hangzhou, Zhejiang 37.31 9.13 19.02 509.77 67.16 5.98 Egypt Hangzhou, Zhejiang 26.00 5.98 12.36 475.24 66.65 6.33 Libya Hangzhou, Zhejiang 26.61 6.33 12.88 484.10 65.69 Yan'an, Shaanxi 185.90 781.05 185.90 357.12 457.24 61.97 Brazil Qingdao, Shandong 92.07 21.53 45.60 495.23 68.31 32.33 Malaysia Qingdao, Shandong 131.54 32.33 65.16 495.35 65.01 34.70 Argentina Qingdao, Shandong 148.58 34.70 77.88 524.15 72.40 97.33 South Africa Qingdao, Shandong 408.85 97.33 168.49 412.11 55.84 Other 0.18 0.77 0.18 0.32 419.06 56.22 Various 0.18 0.77 0.18 0.32 419.06 56.22 Various small cargoes 0.77 0.18 0.32 419.06 56.22 Southwest 163.92 696.70 163.92 329.59 473.08 64.86 Kunming Others, Yunnan 163.92 696.70 163.92 329.59 473.08 64.86 Kuwait Kunming, Yunnan 147.14 34.51 68.45 465.20 63.99 129.41 Saudi Arabia Kunming, Yunnan 549.56 129.41 261.14 475.19 65.09 Total imports 7,956.10 33,697.52 7,956.10 14,927.61 442.99 60.52 Exports by origin (City, Province)^ 000 b/d Destination Departure customs 000t 000 b/d $mn $/t $/bl East 27.41 119.66 27.41 45.80 382.77 53.91 Zhoushan, Zhejiang 21.59 94.26 21.59 37.25 395.20 55.66 Philippines Hangzhou,Zhejiang 94.26 21.59 37.25 395.20 55.66 Qingdao Others, Shandong 5.82 25.40 5.82 8.55 336.65 47.42 Malaysia Qingdao,Shandong 25.40 5.82 8.55 336.65 47.42 South 8.96 39.13 8.96 16.90 431.82 60.82 Zhangjiang, Guangdong 8.96 39.13 8.96 16.90 431.82 60.82 Japan Zhanjiang,Guangdong 39.13 8.96 16.90 431.82 60.82 Total exports 36.37 158.80 36.37 62.70 394.86 55.61 Net imports 7,919.73 ^ Destination (for imports) and origin (exports) in the customs entry usually refers to the shipment s final destination, but occasionally indicates an intermediate point. Yangtze river delta destinations. Considerable volumes of crude designated as being for Yangtze delta destinations in the customs data end up at mid- Yangtze refineries. Pearl river delta destinations. Imports and exports data from China General Administration of Customs Page 27 of 46
refinery throughputs Refinery throughputs, Jan (plan) Province Owner Capacity Crude sources Shutdowns 000 b/d Jan (plan) ± Dec mn t/yr 000 b/d 000t 000 b/d % util. 000 b/d Northeast* 102.7 2,050 Local, some Russian rail 0 7,650 1,800 88-46 Dalian (PetroChina) Liaoning PC 20.5 410 Daqing, Russian rail, West Africa 0 1,700 400 98 +0 Daqing petrochemical Heilongjiang PC 9.5 190 Local (Daqing), some Russian rail 0 500 118 62 +0 Daqing refining & chemical Heilongjiang PC 5.5 110 Local (Daqing), some Russian rail 0 500 118 107 +0 Fushun Liaoning PC 11.5 230 Local (Daqing 85%, Fushun 15%) 0 900 212 92-12 Harbin Heilongjiang PC 5.0 100 Daqing, Russian rail 20% 0 300 71 71-4 Jilin petrochemical Jilin PC 10.0 200 Local (Daqing, Jilin), Russian rail 20% 0 700 165 83-12 Jinxi Liaoning PC 6.5 130 Domestic, Imports 10% 0 550 130 100 +5 Jinzhou Liaoning PC 9.0 180 Domestic, Imports 30% (Chad, Russia etc) 0 600 141 78 +0 Liaohe, Panjin Liaoning PC 5.2 100 Local (Liaohe) 0 300 68 68 +0 Liaoyang Liaoning PC 10.0 200 Local (Liaohe, Daqing) Russian rail 20% 0 800 188 94-12 Wepec Dalian Liaoning W 10.0 200 Mideast sour imports only 0 800 189 95-11 Northwest* 60.8 1,224 Xinjiang, local, Kazakh rail/pipeline 0 3,950 937 77-23 Changqing, Xianyang Shaanxi PC 5.0 100 Local (Changqing) 0 400 94 94 +0 Dushanzi Xinjiang PC 15.8 320 Xinjiang, Kazakh (40pc) 0 800 191 60-24 Karamay Xinjiang PC 5.0 100 Xinjiang 0 400 95 95-5 Lanzhou Gansu PC 15.9 320 Xinjiang, local 0 900 213 67 +11 Tahe Xinjiang S 4.7 94 Local (Tahe) 0 300 70 75 +0 Urumqi Xinjiang PC 9.4 190 Xinjiang, Kazakh 0 950 227 120 +0 Xian Shaanxi S 2.5 50 Local (Yanchang) 0 0 0 - +0 Yumen Gansu PC 2.5 50 Xinjiang, local 0 200 47 94-5 North* 50.6 999 50:50 seaborne imports:domestic 0 4,340 1,010 101 +62 Beijing Yanshan Beijing S 13.5 270 Daqing, some imports 0 1,050 247 92 +35 Cangzhou Hebei S 3.6 71 Domestic 50%, Imports (Oman etc) 50% 0 320 74 104 +4 Dagang Tianjin PC 5.1 98 Local (Dagang) 0 450 103 105 +0 Huabei, Renqiu Hebei PC 5.1 100 Local (Huabei) 0 420 97 97 +0 Shijiazhuang Hebei S 8.1 160 Local (Huabei), Russian rail 30% 0 800 187 117 +0 Tianjin Tianjin S 15.2 300 Local (Dagang) 50%, Imports (sweet) 50% 0 1,300 302 101 +23 East* 127.6 2,528 2/3 imports 0 8,720 2,037 81-2 Jinan Shandong S 8.3 160 Local (Shengli) 0 420 95 59 +0 Qilu, Zibo Shandong S 18.8 370 Local 50%, Imports (ME, Waf) 50% 0 900 209 57 +12 Qingdao Shandong S 10.0 200 Imports only (Mideast sour crude) 0 750 177 89-12 Qingdao Petrochemical Shandong S 5.0 100 Imports only (Mideast sour crude) 0 450 106 106 +12 Yangtze River Delta 85.5 1,698 2/3 imports 0 6,200 1,450 85-14 Gaoqiao, Shanghai Shanghai S 13.1 260 Imports (sweets) 50%, local 0 1,050 246 95-7 Jinling, Nanjing Jiangsu S 19.0 378 Imports 50% 0 1,450 339 90-7 Shanghai (Jinshan) Shanghai S 16.1 320 Imports (light & medium) 75% 0 1,100 257 80 +0 Yangzi, Nanjing Jiangsu S 14.1 280 Imports (sours) 60%, Shengli 0 1,100 257 92 +0 Zhenhai, Ningbo Zhejiang S 23.2 460 Imports; over 2/3 sour 0 1,500 351 76 +0 Central* 48.1 952 40-50% imports (Angola etc) 0 4,090 954 100-10 Anqing Anhui S 9.1 180 Imported sours, Shengli, Daqing 0 700 163 91-4 Changling, Yueyang Hunan S 8.1 160 Shengli 60-70%, imports 0 700 163 102 +24 Jingmen Hubei S 5.7 112 Domestic 50%, imports 50% 0 300 70 63-4 Jiujiang Jiangxi S 6.5 130 Shengli (60-70%), imports 0 900 212 163-14 Luoyang Henan S 8.1 160 Imports (Oman/Russia) 50%+, domestic 0 600 139 87-12 Wuhan Hubei S 8.6 170 Domestic, imports 0 750 174 102 +0 Yueyang Petchem (Baling) Hunan S 2.0 40 Shengli, Daqing, imports 0 140 33 83 +0 South* 75.8 1,524 100% imports 0 5,420.0 1,286.0 84 +195 Fujian, Quanzhou Fujian S 14.0 280 Imports (Yemen, Oman etc) 0 1,000 236 84 +5 Hainan Hainan S 8.0 160 Imports (Mideast, Angola) 0 600 141 88 +141 Qinzhou Guangxi PC 9.6 200 Imports (Light, sweet Angolan/Australian) 0 800 197 99 +25 Pearl River Delta 44.2 884 100% imports 0 3,020 712 81 +24 Guangzhou Guangdong S 15.7 314 Imports (Angola, Oman etc) 0 1,100 259 83 +0 Maoming Guangdong S 23.5 470 Imports (Mideast sour crude) 0 1,500 354 75 +24 Zhanjiang Dongxing Guangdong S 5.0 100 Imports (Libya, Angola etc) 0 420 99 99 +0 Southwest 23 460 Anning Yunnan PC 13.0 260 Imports (Mideast Guilf) 0 983 232 89 +8 Pengzhou Sichuan PC 9.7 200 Imports /Light, sweet Kazakhstan) 0 865 204 102 +0 Total Sinopec* 300.1 5,961 0 22,017 5,151 86 +126 Total PetroChina* 213.4 4,268 0 14,206 3,355 79-236 Total above 47 refineries 465.6 9,277 0 34,170 8,024 87 +176 Total China* 688.7 13,774 251 49,112 12,170 88-14 PetroChina + S'pec % of total China 74 70 Above 47 refineries % of total China 67 66 *China total and company totals include plants not listed. Regional totals are for listed plants only. PetroChina total includes refineries under CNPC and Wepec. China total refinery capacity includes 46 major PC/S-owned plants identified as well as 730,000 b/d of, smaller plants operated by the two oil giants. Additionally, it includes CNOOC s Huizhou refinery in Guangdong and 10 of the country s largest teakettle refineries totalling 1.36mn b/d. PC=PetroChina W=Wepec S=Sinopec Page 28 of 46
refinery throughputs Refinery throughputs, Nov (confirmed) Nov Oct Jan-Nov ± 2016 000t 000 b/d % util. 000t 000 b/d % util. 000t 000 b/d % util. 000 b/d % Northeast* 7,600 1,848 90 7,990 1,879 92 76,975 1,680 80 +117 +7 Dalian (PetroChina) 1,700 414 101 1,750 412 101 14,915 326 70-52 -16 Daqing petrochemical 480 117 62 500 118 62 5,240 115 60 +17 +15 Daqing refining & chemical 480 117 106 500 118 107 5,160 113 103 +19 +17 Fushun 920 224 97 950 224 97 7,140 156 63 +14 +9 Harbin 300 73 73 320 75 75 3,290 72 72-1 -1 Jilin petrochemical 700 170 85 750 177 89 7,960 174 87 +18 +10 Jinxi 500 122 94 550 130 100 5,850 128 99 +46 +36 Jinzhou 600 146 81 650 153 85 6,560 143 80 +18 +13 Liaohe, Panjin 300 70 70 320 72 72 3,300 69 69 +1 +1 Liaoyang 800 195 98 850 200 100 8,770 192 96 +31 +16 Wepec Dalian 820 200 100 850 200 100 8,790 192 96 +8 +4 Northwest* 3,900 958 78 4,040 959 78 42,310 932 75 +146 +16 Changqing, Xianyang 400 98 98 420 99 99 4,440 97 97 +16 +17 Dushanzi 850 210 66 850 203 63 8,840 196 61-1 -1 Karamay 400 98 98 420 100 100 3,520 77 78 +5 +7 Lanzhou 850 208 65 900 213 67 9,690 213 67 +13 +6 Tahe 300 73 78 300 70 75 3,300 72 64 +1 +1 Urumqi 900 222 117 950 227 120 10,280 228 120 +100 +44 Yumen 200 49 98 200 47 94 2,240 49 98 +12 +24 North* 4,000 961 96 4,240 987 99 40,340 872 86 +139 +16 Beijing Yanshan 850 207 77 900 212 79 11,050 242 89 +44 +18 Cangzhou 310 74 104 320 74 104 2,890 62 79 0 0 Dagang 420 99 101 420 96 98 3,230 68 67-4 -6 Huabei, Renqiu 420 100 100 450 104 104 4,590 99 98 +4 +4 Shijiazhuang 800 193 121 850 199 124 5,080 110 66 +6 +5 Tianjin 1,200 288 96 1,300 302 101 13,500 291 97 +89 +31 East* 8,320 2,008 79 8,275 1,934 77 89,395 1,938 75 +44 +2 Jinan 400 93 58 420 95 59 4,960 104 63 +10 +10 Qilu, Zibo 800 192 52 425 99 27 8,705 188 47-10 -5 Qingdao 820 200 100 850 200 100 8,220 180 90 +8 +4 Qingdao Petrochemical 400 97 97 450 106 106 4,690 103 102 +4 +4 Yangtze River Delta 5,900 1,426 84 6,130 1,434 85 62,820 1,364 79 +32 +2 Gaoqiao, Shanghai 1,000 242 93 1,050 246 95 11,000 239 92 +6 +3 Jinling, Nanjing 1,420 343 91 1,480 346 92 15,720 341 88 +24 +7 Shanghai (Jinshan) 1,030 249 78 1,100 257 80 11,380 247 71 +13 +5 Yangzi, Nanjing 1,050 254 91 1,050 246 88 8,330 181 64-70 -39 Zhenhai, Ningbo 1,400 338 74 1,450 339 74 16,390 356 77 +59 +17 Central* 3,960 954 100 4,080 951 100 41,160 890 92 +42 +5 Anqing 700 168 93 700 5 3 7,600 164 91 +92 +56 Changling, Yueyang 600 144 90 650 5 3 6,230 134 81-31 -23 Jingmen 320 77 69 320 74 66 3,300 71 62 0 0 Jiujiang 900 219 169 920 217 167 8,220 180 130-38 -21 Luoyang 600 144 90 600 139 87 6,330 136 85-7 -5 Wuhan 700 168 99 750 174 102 7,940 171 101 +26 +15 Yueyang Petchem (Baling) 140 34 85 140 33 83 1,540 33 84 0 0 South* 4,420 1,084 71 4,820 1,144 75 54,470 1,199 76-38 -3 Fujian, Quanzhou 950 231 83 1,000 236 84 10,690 234 83 +91 +39 Hainan 0 0 0 150 35 22 5,630 123 77-20 -16 Qinzhou 700 178 89 750 185 93 7,110 163 81 +65 +40 Pengzhou 847 206 103 847 200 100 8,599 195 94 +11 +6 Pearl River Delta 2,770 675 76 2,920 688 78 31,040 679 73 +10 +2 Guangzhou 1,000 244 78 1,100 259 83 10,650 233 66-20 -9 Maoming 1,350 329 70 1,400 330 70 15,690 343 71 +22 +6 Zhanjiang Dongxing 420 102 102 420 99 99 4,700 103 - +8 +8 Southwest 1,649 401 87 1,648 389 85 10,978 247 90 +63 +26 Anning 802 195 75 801 189 73 2,380 52 20 +52 +100 Pengzhou 847 206 103 847 200 100 8,599 195 94 +11 +6 Total Sinopec* 20,277 4,900 82 20,912 4,891 82 222,732 4,835 81 +307 +6 Total PetroChina* 14,695 3,576 84 15,274 3,597 84 145,509 3,180 78 +369 +12 Total above 47 refineries 32,200 7,813 84 33,445 7,854 85 344,650 7,511 79 +450 +6 Total China* 494,290 12,183 88 51,749 12,186 89 966,041 21,114 85 +10,338 +49 PetroChina + S'pec % of total China 70 70 38 Above 47 refineries % of total China 64 64 36 *China total and company totals include plants not listed. Regional totals are for listed plants only. PetroChina total includes refineries under CNPC and Wepec. China total refinery capacity includes 46 major PetroChina/Sinopec-owned plants identified as well as 730,000 b/d of, smaller plants operated by the two oil giants. Additionally, it includes CNOOC s Huizhou refinery in Guangdong and 10 of the country s largest teakettle refineries totalling 1.36mn b/d. Page 29 of 46
refinery throughputs Sinopec total runs mn b/d 5.2 5.0 4.8 4.6 4.4 4.2 4.0 Jan 16 Apr Jul Oct Jan 17 Apr Jul Oct Sinopec vs PetroChina runs % utilisation 90 85 80 75 70 65 60 Sinopec PetroChina 55 Jan 16 Apr Jul Oct Jan 17 Apr Jul Oct PetroChina total runs mn b/d 4.2 4.0 3.8 3.6 3.4 3.2 3.0 2.8 2.6 2.4 2.2 Jan 16 Apr Jul Oct Jan 17 Apr Jul Oct Domestic vs import economics % utilisation 95 90 85 80 75 70 65 Northeast refineries running domestic crude Northeast refineries running imported crude 60 Jan 16 Apr Jul Oct Jan 17 Apr Jul Oct Sweet vs sour imports % utilisation 110 100 90 80 70 60 50 40 Refineries running sweet imports Refineries running sour imports 30 Jan 16 Apr Jul Oct Jan 17 Apr Jul Oct NW China refinery runs % utilisation 90 80 70 60 50 40 30 Running Kazakh crude Running domestic crude only 20 Jan 16 Apr Jul Oct Jan 17 Apr Jul Oct Shandong imports and runs mn b/d 4.0 3.5 Shandong runs Shandong imports 3.0 2.5 2.0 1.5 1.0 0.5 0.0 2013 2014 2015 2016 2017 Guangdong imports and runs mn b/d 1.5 Guangdong runs Guangdong imports 1.0 0.5 0.0 2013 2014 2015 2016 2017 Page 30 of 46
Fuel oil imports/exports Chinese fuel oil (no. 5-7 grade) imports and exports in detail, Nov Destination (city, province)^ 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t Northeast 16.65 77.43 16.65 29.09 375.65 Dalian Others, Liaoning 16.65 77.43 16.65 29.09 375.65 Singapore Dalian Customs, Liaoning 62.43 13.42 23.99 384.21 Malaysia Dalian Customs, Liaoning 15.00 3.23 5.10 340.00 North 20.13 93.61 20.13 40.53 433.03 Qinhuangdao Others, Hebei 3.50 16.30 3.50 6.52 399.98 Japan Shijiazhuang Customs, Hebei 16.30 3.50 6.52 399.98 Tianjin (Binhai New Area) 16.62 77.31 16.62 34.02 440.00 Singapore Tianjin Customs, Tianjin 60.01 12.90 26.40 440.00 Japan Tianjin Customs, Tianjin 17.30 3.72 7.61 440.01 East 178.14 828.57 178.14 299.11 361.00 Jiangyin, Jiangsu 7.71 35.84 7.71 14.34 400.01 South Korea Nanjing Customs, Jiangsu 35.84 7.71 14.34 400.01 Zhoushan, Zhejiang 86.40 401.88 86.40 144.04 358.42 Singapore Hangzhou Customs, Zhejiang 270.72 58.21 99.49 367.51 Japan Hangzhou Customs, Zhejiang 42.20 9.07 15.19 359.99 Malaysia Hangzhou Customs, Zhejiang 88.95 19.13 29.36 330.00 Taizhou, Jiangsu 5.36 24.93 5.36 8.72 349.98 Singapore Nanjing Customs, Jiangsu 24.93 5.36 8.72 349.98 Longkou, Shandong 9.68 45.00 9.68 17.99 399.73 Malaysia Qingdao Customs, Shandong 45.00 9.68 17.99 399.73 Qingdao Others, Shandong 3.87 18.00 3.87 6.86 381.00 Singapore Qingdao Customs, Shandong 18.00 3.87 6.86 381.00 Shanghai (Pudong New Area) 2.16 10.05 2.16 3.32 329.95 Japan Shanghai Customs, Shanghai 10.05 2.16 3.32 329.95 Weifang Other, Shandong 4.23 19.66 4.23 7.93 403.14 Malaysia Qingdao Customs, Shandong 19.66 4.23 7.93 403.14 Qingdao Eco Tec. Dev.Zone, Shandong 30.97 144.02 30.97 51.32 356.33 Singapore Qingdao Customs, Shandong 120.90 25.99 43.46 359.45 Malaysia Qingdao Customs, Shandong 23.13 4.97 7.86 340.02 Shanghai (Nanhui) 24.39 113.45 24.39 37.99 334.89 Singapore Shanghai Customs, Shanghai 84.98 18.27 28.60 336.53 Japan Shanghai Customs, Shanghai 28.46 6.12 9.39 330.00 Dongying, Shandong 3.39 15.75 3.39 6.61 419.84 Malaysia Qingdao Customs, Shandong 15.75 3.39 6.61 419.84 South 14.21 66.08 14.21 22.96 347.51 Panyu, Guangdong 0.54 2.50 0.54 0.95 380.00 Singapore Guangzhou Customs, Guangdong 2.50 0.54 0.95 380.00 Xiamen SEZ, Fujian 3.43 15.95 3.43 5.34 334.98 Singapore Xiamen Customs, Fujian 15.95 3.43 5.34 334.98 Nansha Others, Guangdong 10.24 47.62 10.24 16.67 350.00 Singapore Guangzhou Customs, Guangdong 30.00 6.45 10.50 349.99 Malaysia Guangzhou Customs, Guangdong 17.62 3.79 6.17 350.02 Other 0.79 3.63 0.79 1.42 391.46 Various 0.79 3.63 0.79 1.42 391.46 Various small cargoes 3.47 0.75 1.33 383.64 Other fuel oil 0.16 0.04 0.09 563.29 Total imports 229.91 1,069.31 229.91 393.11 367.63 Exports by origin (City, Province)^ 000 b/d Destination Departure customs 000t 000 b/d $mn $/t Northeast 16.99 79.00 16.99 28.28 357.95 Dalian Others, Liaoning 16.99 79.00 16.99 28.28 357.95 Panama Dalian Customs, Liaoning 17.61 3.79 6.44 365.67 Singapore Dalian Customs, Liaoning 7.01 1.51 2.58 367.41 Hong Kong Dalian Customs, Liaoning 18.21 3.91 6.49 356.50 Liberia Dalian Customs, Liaoning 8.43 1.81 2.86 339.39 Marshall Islands Dalian Customs, Liaoning 8.74 1.88 3.11 355.75 Malta Dalian Customs, Liaoning 3.53 0.76 1.25 352.79 Japan Dalian Customs, Liaoning 3.80 0.82 1.36 358.68 Bahamas Dalian Customs, Liaoning 2.44 0.53 0.86 353.95 UK Dalian Customs, Liaoning 2.40 0.52 0.92 385.00 Greece Dalian Customs, Liaoning 4.54 0.98 1.62 356.83 Italy Dalian Customs, Liaoning 2.29 0.49 0.78 342.66 North 20.86 96.99 20.86 37.44 386.01 Qinhuangdao Others, Hebei 7.22 33.56 7.22 12.77 380.57 Panama Shijiazhuang Customs, Hebei 6.01 1.29 2.31 384.56 Singapore Shijiazhuang Customs, Hebei 6.88 1.48 2.53 368.58 Page 31 of 46
Fuel oil imports/exports Chinese fuel oil (no. 5-7 grade) imports and exports in detail, Nov Hong Kong Shijiazhuang Customs, Hebei 8.10 1.74 3.13 386.27 Liberia Shijiazhuang Customs, Hebei 5.66 1.22 2.20 389.12 Marshall Islands Shijiazhuang Customs, Hebei 4.37 0.94 1.67 383.24 Greece Shijiazhuang Customs, Hebei 2.54 0.55 0.92 361.70 Tianjin (Binhai New Area) 13.64 63.44 13.64 24.67 388.89 Panama Tianjin Customs, Tianjin 22.67 4.87 8.62 380.34 Singapore Tianjin Customs, Tianjin 5.09 1.09 1.99 391.63 Hong Kong Tianjin Customs, Tianjin 15.59 3.35 6.12 392.16 Liberia Tianjin Customs, Tianjin 4.38 0.94 1.75 398.86 Marshall Islands Tianjin Customs, Tianjin 2.01 0.43 0.81 403.58 Japan Tianjin Customs, Tianjin 2.90 0.62 1.17 404.90 Bahamas Tianjin Customs, Tianjin 2.18 0.47 0.84 386.45 UK Tianjin Customs, Tianjin 2.20 0.47 0.89 402.64 Greece Tianjin Customs, Tianjin 2.25 0.48 0.90 399.56 Italy Tianjin Customs, Tianjin 4.16 0.90 1.58 379.44 East 166.24 773.20 166.24 263.34 340.58 Jiangyin, Jiangsu 16.83 78.28 16.83 27.37 349.67 Panama Nanjing Customs, Jiangsu 25.59 5.50 9.01 351.87 Singapore Nanjing Customs, Jiangsu 8.01 1.72 2.74 341.53 Hong Kong Nanjing Customs, Jiangsu 15.04 3.23 5.28 350.73 Liberia Nanjing Customs, Jiangsu 5.03 1.08 1.77 351.09 Marshall Islands Nanjing Customs, Jiangsu 8.12 1.75 2.83 348.98 Malta Nanjing Customs, Jiangsu 1.73 0.37 0.60 348.78 Bahamas Nanjing Customs, Jiangsu 7.88 1.69 2.81 356.14 Greece Nanjing Customs, Jiangsu 3.27 0.70 1.12 341.90 Antigua and Barbuda Nanjing Customs, Jiangsu 1.94 0.42 0.68 350.70 India Nanjing Customs, Jiangsu 1.68 0.36 0.55 328.96 Zhoushan, Zhejiang 52.16 242.59 52.16 83.43 343.91 Panama Hangzhou Customs, Zhejiang 52.91 11.38 18.61 351.77 Singapore Hangzhou Customs, Zhejiang 27.43 5.90 9.38 342.10 Hong Kong Hangzhou Customs, Zhejiang 53.47 11.50 18.24 341.03 Liberia Hangzhou Customs, Zhejiang 41.03 8.82 13.81 336.58 Marshall Islands Hangzhou Customs, Zhejiang 21.03 4.52 7.37 350.69 Malta Hangzhou Customs, Zhejiang 14.68 3.16 4.98 339.49 Japan Hangzhou Customs, Zhejiang 1.85 0.40 0.67 362.01 Bahamas Hangzhou Customs, Zhejiang 5.43 1.17 1.85 341.13 Cyprus Hangzhou Customs, Zhejiang 4.01 0.86 1.39 346.54 UK Hangzhou Customs, Zhejiang 3.09 0.66 1.04 336.89 Greece Hangzhou Customs, Zhejiang 6.10 1.31 2.10 344.20 Portugal Hangzhou Customs, Zhejiang 4.96 1.07 1.69 341.40 Germany Hangzhou Customs, Zhejiang 1.98 0.43 0.68 341.92 Denmark Hangzhou Customs, Zhejiang 1.95 0.42 0.67 346.35 Norway Hangzhou Customs, Zhejiang 2.68 0.58 0.94 349.12 Taizhou, Jiangsu 6.95 32.31 6.95 11.04 341.74 Panama Nanjing Customs, Jiangsu 6.60 1.42 2.27 344.60 Singapore Nanjing Customs, Jiangsu 3.72 0.80 1.27 340.60 Hong Kong Nanjing Customs, Jiangsu 6.03 1.30 2.07 342.63 Liberia Nanjing Customs, Jiangsu 4.48 0.96 1.52 339.66 Marshall Islands Nanjing Customs, Jiangsu 3.04 0.65 1.05 347.05 UK Nanjing Customs, Jiangsu 1.95 0.42 0.66 340.16 South Korea Nanjing Customs, Jiangsu 6.50 1.40 2.20 338.10 Qingdao Others, Shandong 19.39 90.19 19.39 27.97 310.15 Panama Qingdao Customs, Shandong 45.26 9.73 13.82 305.35 Singapore Qingdao Customs, Shandong 8.21 1.77 2.59 314.98 Hong Kong Qingdao Customs, Shandong 20.54 4.42 6.47 314.98 Liberia Qingdao Customs, Shandong 2.94 0.63 0.93 314.97 Marshall Islands Qingdao Customs, Shandong 8.99 1.93 2.83 314.95 Malta Qingdao Customs, Shandong 4.25 0.91 1.34 315.06 Shanghai (Pudong New Area) 22.83 106.17 22.83 34.35 323.53 Panama Shanghai Customs, Shanghai 28.62 6.15 9.22 322.14 Singapore Shanghai Customs, Shanghai 7.04 1.51 2.23 316.61 Hong Kong Shanghai Customs, Shanghai 33.26 7.15 10.90 327.78 Liberia Shanghai Customs, Shanghai 8.99 1.93 2.91 323.70 Marshall Islands Shanghai Customs, Shanghai 7.56 1.63 2.42 319.71 Malta Shanghai Customs, Shanghai 1.61 0.35 0.53 331.27 Japan Shanghai Customs, Shanghai 2.12 0.46 0.69 325.77 Bahamas Shanghai Customs, Shanghai 5.16 1.11 1.65 320.02 UK Shanghai Customs, Shanghai 5.19 1.12 1.68 323.12 Page 32 of 46
Fuel oil imports/exports Chinese fuel oil (no. 5-7 grade) imports and exports in detail, Nov Greece Shanghai Customs, Shanghai 1.98 0.43 0.64 324.57 Taiwan Shanghai Customs, Shanghai 2.44 0.53 0.77 316.29 Antigua and Barbuda Shanghai Customs, Shanghai 2.20 0.47 0.70 320.44 Qingdao Eco. /Tech. Dev. Zone, Shandong 20.64 96.00 20.64 33.78 351.92 Panama Qingdao Customs, Shandong 82.32 17.70 28.92 351.28 Liberia Qingdao Customs, Shandong 13.68 2.94 4.87 355.80 Shanghai (Nanhui) 13.63 63.40 13.63 23.30 367.46 Panama Shanghai Customs, Shanghai 4.15 0.89 1.54 371.24 Hong Kong Shanghai Customs, Shanghai 8.87 1.91 3.82 431.20 Liberia Shanghai Customs, Shanghai 15.58 3.35 5.63 361.39 Marshall Islands Shanghai Customs, Shanghai 3.35 0.72 1.16 344.47 Malta Shanghai Customs, Shanghai 3.97 0.85 1.39 348.87 Cyprus Shanghai Customs, Shanghai 6.05 1.30 2.16 357.76 UK Shanghai Customs, Shanghai 5.60 1.20 1.98 354.00 Greece Shanghai Customs, Shanghai 1.65 0.36 0.59 356.93 Taiwan Shanghai Customs, Shanghai 3.56 0.77 1.23 345.31 Portugal Shanghai Customs, Shanghai 3.24 0.70 1.13 347.32 Italy Shanghai Customs, Shanghai 2.85 0.61 1.06 371.88 Denmark Shanghai Customs, Shanghai 2.94 0.63 1.07 363.98 Norway Shanghai Customs, Shanghai 1.60 0.34 0.55 341.25 Ningbo Others, Zhejiang 2.83 13.14 2.83 4.72 358.80 Panama Ningbo Customs, Zhejiang 6.08 1.31 2.30 378.25 Hong Kong Ningbo Customs, Zhejiang 7.06 1.52 2.42 342.06 Nantong Others, Jiangsu 2.65 12.34 2.65 4.32 349.75 Panama Nanjing Customs, Jiangsu 4.71 1.01 1.68 356.43 Hong Kong Nanjing Customs, Jiangsu 4.24 0.91 1.44 340.49 Marshall Islands Nanjing Customs, Jiangsu 1.84 0.40 0.65 352.75 Malta Nanjing Customs, Jiangsu 1.56 0.34 0.55 351.25 Zhangjiagang Others, Jiangsu 4.33 20.15 4.33 7.56 375.30 Panama Nanjing Customs, Jiangsu 20.15 4.33 7.56 375.30 Lianyungang Others, Jiangsu 4.01 18.64 4.01 5.50 294.98 Panama Nanjing Customs, Jiangsu 18.64 4.01 5.50 294.98 South 45.38 211.05 45.38 67.61 320.33 Panyu, Guangdong 0.47 2.20 0.47 0.79 360.16 Malta Guangzhou Customs, Guangdong 2.20 0.47 0.79 360.16 Fuzhou Others, Fujian 0.55 2.54 0.55 0.97 381.20 Australia Fuzhou Customs, Fujian 2.54 0.55 0.97 381.20 Xiamen SEZ, Fujian 4.21 19.60 4.21 7.09 361.57 Panama Xiamen Customs, Fujian 2.03 0.44 0.72 353.38 Hong Kong Xiamen Customs, Fujian 6.10 1.31 2.16 353.95 Japan Xiamen Customs, Fujian 1.68 0.36 0.62 370.30 Australia Xiamen Customs, Fujian 5.53 1.19 2.00 361.06 Indonesia Xiamen Customs, Fujian 4.26 0.92 1.59 373.59 Nansha Others, Guangdong 2.54 11.84 2.54 3.79 319.98 Hong Kong Guangzhou Customs, Guangdong 11.84 2.54 3.79 319.98 Shenzhen SEZ, Guangdong 11.38 52.93 11.38 16.55 312.61 Panama Shenzhen Customs, Guangdong 1.86 0.40 0.70 373.99 Singapore Shenzhen Customs, Guangdong 2.30 0.50 0.81 350.69 Hong Kong Shenzhen Customs, Guangdong 42.17 9.07 12.69 300.81 Liberia Shenzhen Customs, Guangdong 2.60 0.56 0.94 361.85 Cyprus Shenzhen Customs, Guangdong 4.00 0.86 1.42 354.59 Zhuhai zone, Guangdong 1.25 5.81 1.25 1.76 303.02 Hong Kong Zhuhai Customs, Guangdong 5.81 1.25 1.76 303.02 Huizhou Others, Guangdong 12.80 59.53 12.80 18.44 309.70 Hong Kong Shenzhen Customs, Guangdong 59.53 12.80 18.44 309.70 Yangpu Eco. Dev. Zone, Hainan 12.17 56.62 12.17 18.23 322.01 Hong Kong Haikou Customs, Hainan 56.62 12.17 18.23 322.01 Other 18.34 82.25 18.34 32.50 395.17 Various 18.34 82.25 18.34 32.50 395.17 Various small cargoes 68.42 14.71 24.46 357.52 Other fuel oil 13.83 3.63 8.04 581.47 Total exports 267.79 1,242.49 267.79 429.16 345.40 Net imports -37.88 ^ Destination (for imports) and origin (exports) in the customs entry usually refers to the shipment s final destination, but occasionally indicates an intermediate point. Yangtze river delta destinations. Considerable volumes of crude designated as being for Yangtze delta destinations in the customs data end up at mid- Yangtze refineries. Imports and exports data from China General Administration of Customs Page 33 of 46
Fuel oil imports/exports Chinese fuel oil (no. 5-7 grade) imports and exports in detail, Dec Destination (city, province)^ 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t Northeast 8.31 39.93 8.31 15.03 376.27 Dalian Others, Liaoning 8.31 39.93 8.31 15.03 376.27 South Korea Dalian Customs, Liaoning 39.93 8.31 15.03 376.27 North 12.48 60.00 12.48 24.68 411.36 Qinhuangdao Others, Hebei 5.53 26.58 5.53 9.98 375.35 South Korea Shijiazhuang Customs, Hebei 26.58 5.53 9.98 375.35 Tianjin (Binhai New Area) 6.95 33.42 6.95 14.70 440.00 Japan Tianjin Customs, Tianjin 33.42 6.95 14.70 440.00 East 234.37 1,126.43 234.37 434.73 385.94 Jiangyin, Jiangsu 9.99 48.00 9.99 19.68 410.00 Singapore Nanjing Customs, Jiangsu 48.00 9.99 19.68 410.00 Zhoushan, Zhejiang 148.16 712.07 148.16 277.04 389.07 Singapore Hangzhou Customs, Zhejiang 253.68 52.78 98.49 388.25 South Korea Hangzhou Customs, Zhejiang 115.24 23.98 46.61 404.49 Malaysia Hangzhou Customs, Zhejiang 125.97 26.21 46.43 368.62 Kuwait Hangzhou Customs, Zhejiang 87.48 18.20 32.37 370.00 Thailand Hangzhou Customs, Zhejiang 31.47 6.55 12.90 410.01 UAE Hangzhou Customs, Zhejiang 98.23 20.44 40.23 409.57 Taizhou, Jiangsu 8.33 40.03 8.33 14.41 359.99 Singapore Nanjing Customs, Jiangsu 40.03 8.33 14.41 359.99 Shanghai (Pudong New Area) 18.58 89.28 18.58 33.20 371.83 Singapore Shanghai Customs, Shanghai 61.31 12.76 22.99 374.96 South Korea Shanghai Customs, Shanghai 27.97 5.82 10.21 364.99 Weifang Other, Shandong 7.58 36.43 7.58 14.62 401.17 South Korea Qingdao Customs, Shandong 36.43 7.58 14.62 401.17 Qingdao Eco. and Tech. Dev. Zone, Shandong 41.74 200.62 41.74 75.79 377.78 Singapore Qingdao Customs, Shandong 124.49 25.90 47.62 382.54 Malaysia Qingdao Customs, Shandong 76.13 15.84 28.17 370.00 South 20.36 97.83 20.36 34.36 351.26 Panyu, Guangdong 0.60 2.90 0.60 1.09 375.04 Singapore Guangzhou Customs, Guangdong 2.90 0.60 1.09 375.04 Xiamen SEZ, Fujian 6.24 29.99 6.24 11.20 373.44 Singapore Xiamen Customs, Fujian 29.99 6.24 11.20 373.44 Shenzhen SEZ, Guangdong 12.82 61.63 12.82 20.86 338.50 Singapore Shenzhen Customs, Guangdong 61.63 12.82 20.86 338.50 Zhuhai zone, Guangdong 0.69 3.30 0.69 1.21 367.13 Singapore Zhuhai Customs, Guangdong 3.30 0.69 1.21 367.13 Other 1.25 6.01 1.25 2.25 374.85 Various 1.25 6.01 1.25 2.25 374.85 Various small cargoes 5.95 1.24 2.22 372.86 Other fuel oil 0.06 0.02 0.03 576.27 Total imports 276.77 1,330.19 276.77 511.05 384.20 Exports by origin (City, Province)^ 000 b/d Destination Departure customs 000t 000 b/d $mn $/t Northeast 16.91 81.29 16.91 30.83 379.24 Dalian Others, Liaoning 16.91 81.29 16.91 30.83 379.24 Panama Dalian Customs, Liaoning 15.37 3.20 5.73 372.79 Singapore Dalian Customs, Liaoning 9.02 1.88 3.42 378.71 Hong Kong Dalian Customs, Liaoning 17.79 3.70 6.77 380.27 Liberia Dalian Customs, Liaoning 8.77 1.82 3.28 373.56 Marshall Islands Dalian Customs, Liaoning 11.37 2.37 4.36 383.85 Malta Dalian Customs, Liaoning 10.01 2.08 3.84 383.49 Bahamas Dalian Customs, Liaoning 2.76 0.57 1.06 382.75 Cyprus Dalian Customs, Liaoning 3.28 0.68 1.26 385.30 Greece Dalian Customs, Liaoning 2.93 0.61 1.12 382.99 North 16.84 80.95 16.84 32.02 395.55 Qinhuangdao Others, Hebei 1.65 7.91 1.65 3.07 388.77 Panama Shijiazhuang Customs, Hebei 1.78 0.37 0.71 398.20 Hong Kong Shijiazhuang Customs, Hebei 3.54 0.74 1.39 391.42 Liberia Shijiazhuang Customs, Hebei 2.59 0.54 0.98 378.67 Tianjin (Binhai New Area) 15.20 73.05 15.20 28.95 396.29 Panama Tianjin Customs, Tianjin 12.76 2.66 5.07 397.01 Singapore Tianjin Customs, Tianjin 5.24 1.09 2.11 402.41 Hong Kong Tianjin Customs, Tianjin 16.86 3.51 6.62 392.42 Liberia Tianjin Customs, Tianjin 14.75 3.07 5.88 398.43 Page 34 of 46
Fuel oil imports/exports Chinese fuel oil (no. 5-7 grade) imports and exports in detail, Dec Destination (city, province)^ 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t Marshall Islands Tianjin Customs, Tianjin 6.25 1.30 2.47 395.23 Malta Tianjin Customs, Tianjin 4.29 0.89 1.69 393.34 Japan Tianjin Customs, Tianjin 4.66 0.97 1.85 396.35 UK Tianjin Customs, Tianjin 2.45 0.51 0.96 391.02 Greece Tianjin Customs, Tianjin 2.94 0.61 1.17 397.96 Italy Tianjin Customs, Tianjin 2.86 0.60 1.15 403.01 East 189.31 909.87 189.31 329.80 362.47 Jiangyin, Jiangsu 23.41 112.50 23.41 42.04 373.66 Panama Nanjing Customs, Jiangsu 32.16 6.69 11.98 372.59 Singapore Nanjing Customs, Jiangsu 13.59 2.83 5.10 375.42 Hong Kong Nanjing Customs, Jiangsu 21.91 4.56 8.07 368.27 Liberia Nanjing Customs, Jiangsu 10.92 2.27 3.99 365.20 Marshall Islands Nanjing Customs, Jiangsu 16.52 3.44 6.30 381.17 Malta Nanjing Customs, Jiangsu 3.20 0.67 1.22 380.58 Japan Nanjing Customs, Jiangsu 4.14 0.86 1.56 376.57 Bahamas Nanjing Customs, Jiangsu 4.11 0.86 1.60 388.92 Greece Nanjing Customs, Jiangsu 4.39 0.91 1.66 377.54 India Nanjing Customs, Jiangsu 1.56 0.33 0.57 362.59 Zhoushan, Zhejiang 72.10 346.52 72.10 128.14 369.81 Panama Hangzhou Customs, Zhejiang 45.90 9.55 17.19 374.56 Singapore Hangzhou Customs, Zhejiang 19.30 4.02 7.14 370.15 Hong Kong Hangzhou Customs, Zhejiang 56.32 11.72 20.72 367.90 Liberia Hangzhou Customs, Zhejiang 36.17 7.53 13.57 374.99 Marshall Islands Hangzhou Customs, Zhejiang 33.16 6.90 12.47 376.17 Malta Hangzhou Customs, Zhejiang 17.20 3.58 6.33 368.05 Japan Hangzhou Customs, Zhejiang 7.58 1.58 2.88 379.44 Bahamas Hangzhou Customs, Zhejiang 1.75 0.36 0.67 383.43 Cyprus Hangzhou Customs, Zhejiang 6.07 1.26 2.31 379.82 UK Hangzhou Customs, Zhejiang 7.53 1.57 2.83 375.15 Greece Hangzhou Customs, Zhejiang 6.57 1.37 2.48 377.00 Taiwan Hangzhou Customs, Zhejiang 6.72 1.40 2.52 374.18 Portugal Hangzhou Customs, Zhejiang 4.65 0.97 1.70 364.52 South Korea Hangzhou Customs, Zhejiang 92.10 19.16 33.26 361.09 Denmark Hangzhou Customs, Zhejiang 3.02 0.63 1.15 381.41 Bulgaria Hangzhou Customs, Zhejiang 2.47 0.51 0.95 383.00 Taizhou, Jiangsu 11.31 54.36 11.31 20.13 370.33 Panama Nanjing Customs, Jiangsu 10.95 2.28 4.06 370.86 Singapore Nanjing Customs, Jiangsu 3.54 0.74 1.28 362.63 Hong Kong Nanjing Customs, Jiangsu 20.54 4.27 7.72 375.55 Liberia Nanjing Customs, Jiangsu 3.43 0.71 1.24 360.67 Marshall Islands Nanjing Customs, Jiangsu 4.21 0.88 1.56 370.10 Cyprus Nanjing Customs, Jiangsu 3.92 0.82 1.41 359.90 Greece Nanjing Customs, Jiangsu 7.78 1.62 2.87 368.91 Qingdao Others, Shandong 15.69 75.39 15.69 25.33 335.96 Panama Qingdao Customs, Shandong 33.59 6.99 11.19 333.13 Hong Kong Qingdao Customs, Shandong 28.25 5.88 9.59 339.40 Liberia Qingdao Customs, Shandong 2.20 0.46 0.75 340.00 Malta Qingdao Customs, Shandong 3.79 0.79 1.29 340.03 Cyprus Qingdao Customs, Shandong 2.31 0.48 0.73 315.15 UK Qingdao Customs, Shandong 5.26 1.09 1.79 340.06 Shanghai (Pudong New Area) 30.36 145.92 30.36 51.37 352.04 Panama Shanghai Customs, Shanghai 31.73 6.60 11.33 357.19 Singapore Shanghai Customs, Shanghai 9.27 1.93 3.34 360.17 Hong Kong Shanghai Customs, Shanghai 39.21 8.16 13.76 350.90 Liberia Shanghai Customs, Shanghai 17.45 3.63 6.15 352.49 Marshall Islands Shanghai Customs, Shanghai 10.05 2.09 3.54 352.05 Malta Shanghai Customs, Shanghai 3.19 0.66 1.18 370.77 Japan Shanghai Customs, Shanghai 5.81 1.21 2.04 350.71 Bahamas Shanghai Customs, Shanghai 6.89 1.43 2.31 335.51 Cyprus Shanghai Customs, Shanghai 2.83 0.59 0.96 339.47 UK Shanghai Customs, Shanghai 6.06 1.26 2.11 347.52 Taiwan Shanghai Customs, Shanghai 2.00 0.42 0.70 350.47 Germany Shanghai Customs, Shanghai 3.39 0.71 1.18 347.69 Antigua and Barbuda Shanghai Customs, Shanghai 2.40 0.50 0.80 331.12 Page 35 of 46
Fuel oil imports/exports Chinese fuel oil (no. 5-7 grade) imports and exports in detail, Dec Destination (city, province)^ 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t Norway Shanghai Customs, Shanghai 3.40 0.71 1.23 361.10 Netherlands Shanghai Customs, Shanghai 2.24 0.47 0.75 334.23 Shanghai (Nanhui) 18.22 87.58 18.22 33.30 380.25 Panama Shanghai Customs, Shanghai 11.97 2.49 4.63 386.29 Singapore Shanghai Customs, Shanghai 9.31 1.94 3.48 373.70 Hong Kong Shanghai Customs, Shanghai 13.64 2.84 5.71 418.68 Liberia Shanghai Customs, Shanghai 20.59 4.28 7.60 368.98 Marshall Islands Shanghai Customs, Shanghai 1.91 0.40 0.71 373.63 Malta Shanghai Customs, Shanghai 4.68 0.97 1.83 390.78 Cyprus Shanghai Customs, Shanghai 4.91 1.02 1.81 367.67 UK Shanghai Customs, Shanghai 2.65 0.55 1.00 378.21 Portugal Shanghai Customs, Shanghai 4.66 0.97 1.66 356.18 Germany Shanghai Customs, Shanghai 7.20 1.50 2.61 363.06 Italy Shanghai Customs, Shanghai 3.46 0.72 1.31 377.35 Denmark Shanghai Customs, Shanghai 2.60 0.54 0.96 369.86 Ningbo Others, Zhejiang 2.81 13.49 2.81 5.09 377.40 Panama Ningbo Customs, Zhejiang 2.76 0.57 1.02 370.52 Hong Kong Ningbo Customs, Zhejiang 8.93 1.86 3.38 378.26 Liberia Ningbo Customs, Zhejiang 1.79 0.37 0.69 383.71 Nantong Others, Jiangsu 1.41 6.79 1.41 2.48 365.04 Panama Nanjing Customs, Jiangsu 2.30 0.48 0.85 367.23 Marshall Islands Nanjing Customs, Jiangsu 4.49 0.93 1.63 363.92 Zhangjiagang Others, Jiangsu 3.41 16.40 3.41 6.36 388.11 Panama Nanjing Customs, Jiangsu 16.40 3.41 6.36 388.11 Lianyungang Others, Jiangsu 10.60 50.93 10.60 15.56 305.48 Panama Nanjing Customs, Jiangsu 50.93 10.60 15.56 305.48 South 18.62 89.49 18.62 31.84 355.76 Panyu, Guangdong 0.73 3.50 0.73 1.27 361.95 Malta Guangzhou Customs, Guangdong 3.50 0.73 1.27 361.95 Fuzhou Others, Fujian 1.13 5.42 1.13 2.23 411.99 Indonesia Fuzhou Customs, Fujian 1.61 0.34 0.67 417.86 Philippines Fuzhou Customs, Fujian 3.81 0.79 1.56 409.51 Xiamen SEZ, Fujian 3.84 18.45 3.84 7.04 381.54 Hong Kong Xiamen Customs, Fujian 5.47 1.14 2.10 384.25 Marshall Islands Xiamen Customs, Fujian 1.61 0.34 0.60 370.81 South Korea Xiamen Customs, Fujian 1.81 0.38 0.70 390.03 Australia Xiamen Customs, Fujian 6.96 1.45 2.63 378.43 US Xiamen Customs, Fujian 2.61 0.54 1.01 384.91 Nansha Others, Guangdong 3.03 14.54 3.03 4.85 333.61 Hong Kong Guangzhou Customs, Guangdong 14.54 3.03 4.85 333.61 Shenzhen SEZ, Guangdong 7.70 37.00 7.70 12.84 347.00 Panama Shenzhen Customs, Guangdong 9.88 2.06 3.80 384.31 Hong Kong Shenzhen Customs, Guangdong 15.98 3.32 4.82 301.48 Liberia Shenzhen Customs, Guangdong 9.15 1.90 3.47 379.63 Taiwan Shenzhen Customs, Guangdong 1.99 0.41 0.75 377.20 Zhuhai zone, Guangdong 1.20 5.78 1.20 1.73 299.19 Hong Kong Zhuhai Customs, Guangdong 5.78 1.20 1.73 299.19 Zhangjiang, Guangdong 1.00 4.80 1.00 1.88 391.37 Panama Zhanjiang Customs, Guangdong 2.22 0.46 0.86 389.44 Singapore Zhanjiang Customs, Guangdong 2.58 0.54 1.01 393.02 Other 16.66 77.57 16.66 32.05 413.14 Various 16.66 77.57 16.66 32.05 413.14 Various small cargoes 66.08 13.74 25.03 378.82 Other fuel oil 11.49 2.92 7.02 610.53 Total exports 258.35 1,239.16 258.35 456.53 368.42 Net imports 18.42 ^ Destination (for imports) and origin (exports) in the customs entry usually refers to the shipment s final destination, but occasionally indicates an intermediate point. Yangtze river delta destinations. Considerable volumes of crude designated as being for Yangtze delta destinations in the customs data end up at mid- Yangtze refineries. Imports and exports data from China General Administration of Customs Page 36 of 46
Product imports/exports Chinese jet-kerosine imports and exports in detail, Nov Destination (city, province)* 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t North 20.42 77.73 20.42 43.00 553.14 Beijing (Chaoyang District) 15.68 59.70 15.68 33.02 553.17 South Korea Beijing Customs, Beijing 59.70 15.68 33.02 553.17 Tianjin (Dongli) 4.74 18.03 4.74 9.97 553.07 South Korea Tianjin Customs, Tianjin 18.03 4.74 9.97 553.07 East 59.68 227.19 59.68 128.46 565.44 Shanghai (Nanhui) 5.28 20.11 5.28 10.83 538.26 South Korea Shanghai Customs, Shanghai 20.11 5.28 10.83 538.26 Shanghai (Pudong New Area) 54.39 207.08 54.39 117.64 568.08 South Korea Shanghai Customs, Shanghai 177.19 46.54 101.23 571.28 Singapore Shanghai Customs, Shanghai 29.89 7.85 16.41 549.07 South 18.89 71.92 18.89 39.91 554.91 Guangzhou Others, Guangdong 6.89 26.23 6.89 14.64 557.95 South Korea Guangzhou Customs, Guangdong 26.23 6.89 14.64 557.95 Zhuhai zone, Guangdong 12.00 45.69 12.00 25.28 553.17 South Korea Zhuhai Customs, Guangdong 43.29 11.37 24.01 554.72 Malaysia Zhuhai Customs, Guangdong 2.40 0.63 1.26 525.18 Total imports 98.99 376.85 98.99 211.37 560.89 Exports by origin (City, Province)^ 000 b/d Destination Departure customs 000t 000 b/d $mn $/t Northeast 23.50 89.45 23.50 44.72 500.00 Dalian Others, Liaoning 23.50 89.45 23.50 44.72 500.00 South Korea Dalian Customs,Liaoning 30.01 7.88 15.00 499.98 US Dalian Customs,Liaoning 59.44 15.61 29.72 500.01 North 5.91 22.48 5.91 14.54 646.80 Beijing (Chaoyang District) 5.91 22.48 5.91 14.54 646.80 Canada Beijing Customs,Beijing 1.83 0.48 1.19 649.92 France Beijing Customs,Beijing 1.54 0.40 0.99 644.11 Russia Beijing Customs,Beijing 2.25 0.59 1.47 652.00 Singapore Beijing Customs,Beijing 1.55 0.41 1.00 646.60 UAE Beijing Customs,Beijing 2.25 0.59 1.46 646.67 US Beijing Customs,Beijing 10.55 2.77 6.82 646.66 Germany Beijing Customs,Beijing 2.52 0.66 1.62 642.32 East 228.08 868.36 228.08 491.75 566.30 Shanghai (Changning) 5.82 22.15 5.82 12.70 573.25 South Korea Shanghai Customs,Shanghai 3.67 0.97 2.09 568.05 Japan Shanghai Customs,Shanghai 1.48 0.39 0.84 565.25 Hong Kong Shanghai Customs,Shanghai 8.02 2.11 4.80 599.00 Singapore Shanghai Customs,Shanghai 2.42 0.64 1.28 529.17 Macao Shanghai Customs,Shanghai 3.24 0.85 1.82 560.19 Taiwan Shanghai Customs,Shanghai 3.32 0.87 1.88 565.19 Shanghai (Pudong New Area) 49.08 186.86 49.08 115.81 619.75 South Korea Shanghai Customs,Shanghai 1.79 0.47 1.17 652.88 Japan Shanghai Customs,Shanghai 4.99 1.31 3.24 648.69 Hong Kong Shanghai Customs,Shanghai 31.78 8.35 15.31 481.73 Canada Shanghai Customs,Shanghai 7.05 1.85 4.57 648.22 France Shanghai Customs,Shanghai 6.31 1.66 4.08 646.39 Russia Shanghai Customs,Shanghai 12.49 3.28 8.12 650.01 Singapore Shanghai Customs,Shanghai 7.20 1.89 4.67 648.67 UAE Shanghai Customs,Shanghai 10.52 2.76 6.82 647.79 US Shanghai Customs,Shanghai 38.71 10.17 25.07 647.63 Vietnam Shanghai Customs,Shanghai 1.48 0.39 0.97 653.59 UK Shanghai Customs,Shanghai 5.30 1.39 3.42 645.72 Germany Shanghai Customs,Shanghai 16.69 4.38 10.72 642.08 Ethiopia Shanghai Customs,Shanghai 2.78 0.73 1.82 653.00 Sweden Shanghai Customs,Shanghai 2.21 0.58 1.45 653.57 Netherlands Shanghai Customs,Shanghai 3.80 1.00 2.45 646.30 Qatar Shanghai Customs,Shanghai 3.74 0.98 2.42 647.86 Turkey Shanghai Customs,Shanghai 4.15 1.09 2.71 652.14 Indonesia Shanghai Customs,Shanghai 1.85 0.49 1.20 649.89 Luxembourg Shanghai Customs,Shanghai 1.48 0.39 0.96 652.00 Finland Shanghai Customs,Shanghai 1.76 0.46 1.14 651.11 Switzerland Shanghai Customs,Shanghai 2.56 0.67 1.64 642.16 New Zealand Shanghai Customs,Shanghai 2.07 0.55 1.35 652.20 Azerbaijan Shanghai Customs,Shanghai 2.17 0.57 1.43 655.47 Page 37 of 46
Product imports/exports Chinese jet-kerosine imports and exports in detail, Nov Australia Shanghai Customs,Shanghai 3.40 0.89 2.21 651.27 Austria Shanghai Customs,Shanghai 1.42 0.37 0.91 642.25 Iran Shanghai Customs,Shanghai 1.89 0.50 1.24 656.61 Malaysia Shanghai Customs,Shanghai 2.46 0.65 1.61 652.46 Philippines Shanghai Customs,Shanghai 1.46 0.38 0.95 652.26 Belgium Shanghai Customs,Shanghai 2.07 0.55 1.34 646.41 Taiwan Shanghai Customs,Shanghai 1.29 0.34 0.83 645.14 Nanjing Others, Jiangsu 9.86 37.54 9.86 18.58 494.97 US Nanjing Customs,Jiangsu 34.41 9.04 16.46 478.41 Germany Nanjing Customs,Jiangsu 1.62 0.43 1.08 669.55 Thailand Nanjing Customs,Jiangsu 1.51 0.40 1.04 685.19 Qingdao Eco. and Tech. Dev. Zone, Shandong 40.22 153.12 40.22 78.52 512.80 Singapore Qingdao Customs,Shandong 114.78 30.15 58.58 510.40 Australia Qingdao Customs,Shandong 38.34 10.07 19.94 519.99 Ningbo Others, Zhejiang 105.25 400.71 105.25 229.57 572.91 South Korea Ningbo Customs,Zhejiang 40.00 10.51 22.00 550.00 Hong Kong Ningbo Customs,Zhejiang 280.74 73.74 159.59 568.45 Australia Ningbo Customs,Zhejiang 79.97 21.01 47.98 600.01 Nanjing Pukou high-tech export 17.86 67.98 17.86 36.58 538.01 Hong Kong Nanjing Customs,Jiangsu 67.98 17.86 36.58 538.01 South 104.61 398.25 104.61 214.14 537.71 Maoming, Guangdong 21.51 81.88 21.51 43.48 531.04 Hong Kong Zhanjiang Customs,Guangdong 34.12 8.96 15.52 455.01 Vietnam Zhanjiang Customs,Guangdong 37.06 9.74 21.94 592.05 Macao Zhanjiang Customs,Guangdong 10.70 2.81 6.02 562.14 Sanya, Hainan 0.63 2.41 0.63 1.68 696.36 Russia Haikou Customs,Hainan 2.41 0.63 1.68 696.36 Guangzhou Others, Guangdong 40.14 152.83 40.14 87.28 571.08 Japan Guangzhou Customs,Guangdong 9.98 2.62 5.36 536.56 Hong Kong Huangpu Customs,Guangdong 20.50 5.39 10.05 490.00 Singapore Guangzhou Customs,Guangdong 29.95 7.87 16.49 550.49 Macao Huangpu Customs,Guangdong 9.20 2.42 4.60 500.00 UK Guangzhou Customs,Guangdong 74.49 19.57 46.09 618.70 Taiwan Guangzhou Customs,Guangdong 8.71 2.29 4.70 540.02 Huizhou Others, Guangdong 21.75 82.80 21.75 41.22 497.77 Hong Kong Shenzhen Customs,Guangdong 14.35 3.77 6.87 479.02 Vietnam Shenzhen Customs,Guangdong 40.60 10.66 20.79 511.97 Philippines Shenzhen Customs,Guangdong 27.85 7.32 13.56 486.72 Xiamen SEZ, Fujian 0.85 3.23 0.85 2.02 627.40 Hong Kong Xiamen Customs,Fujian 3.23 0.85 2.02 627.40 Shenzhen SEZ, Guangdong 0.55 2.09 0.55 1.05 502.16 US Shenzhen Customs,Guangdong 2.09 0.55 1.05 502.16 Yangpu Eco. Dev. Zone, Hainan 14.20 54.06 14.20 27.57 510.01 Australia Haikou Customs,Hainan 54.06 14.20 27.57 510.01 Quanzhou, Fujian 4.98 18.95 4.98 9.85 519.50 Hong Kong Xiamen Customs,Fujian 18.95 4.98 9.85 519.50 Central 6.51 24.79 6.51 15.26 615.48 Chengdu Others, Sichuan 2.26 8.60 2.26 6.03 701.09 Hong Kong Chengdu Customs,Sichuan 8.60 2.26 6.03 701.09 Wuhan Others, Hubei 2.12 8.06 2.12 3.68 456.53 Hong Kong Wuhan Customs,Hubei 8.06 2.12 3.68 456.53 Zhengzhou Others, Henan 2.14 8.13 2.14 5.55 682.58 Russia Zhengzhou Customs,Henan 2.29 0.60 1.56 682.24 Luxembourg Zhengzhou Customs,Henan 3.98 1.05 2.72 682.58 Thailand Zhengzhou Customs,Henan 1.86 0.49 1.27 682.99 Other 12.87 49.02 12.87 31.49 642.33 Various 12.87 49.02 12.87 31.49 642.33 Various small cargoes 49.02 12.87 31.49 642.33 Total exports 381.48 1,452.34 381.48 811.90 559.03 Net imports -282.49 ^ Destination (for imports) and origin (exports) in the customs entry usually refers to the shipment s final destination, but occasionally indicates an intermediate point. Yangtze river delta destinations. Considerable volumes of crude designated as being for Yangtze delta destinations in the customs data end up at mid- Yangtze refineries. Pearl river delta destinations. Imports and exports data from China General Administration of Customs Page 38 of 46
Product imports/exports Chinese jet-kerosine imports and exports in detail, Dec Destination (city, province)* 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t North 9.93 39.07 9.93 21.25 543.99 Beijing (Chaoyang District) 9.93 39.07 9.93 21.25 543.99 South Korea Beijing Customs, Beijing 39.07 9.93 21.25 543.99 East 64.07 252.05 64.07 153.45 608.80 Shanghai (Changning) 1.78 7.00 1.78 4.28 610.86 South Korea Shanghai Customs, Shanghai 7.00 1.78 4.28 610.86 Shanghai (Nanhui) 3.70 14.55 3.70 8.55 587.96 South Korea Shanghai Customs, Shanghai 14.55 3.70 8.55 587.96 Shanghai (Pudong New Area) 58.59 230.51 58.59 140.62 610.06 South Korea Shanghai Customs, Shanghai 230.51 58.59 140.62 610.06 South 13.29 52.27 13.29 31.54 603.38 Guangzhou Others, Guangdong 13.29 52.27 13.29 31.54 603.38 Singapore Guangzhou Customs, Guangdong 26.28 6.68 15.84 602.52 Malaysia Guangzhou Customs, Guangdong 25.99 6.61 15.70 604.26 Total imports 87.29 343.39 87.29 206.24 600.61 Exports by origin (City, Province)^ 000 b/d Destination Departure customs 000t 000 b/d $mn $/t Northeast 39.77 156.43 39.77 82.39 526.68 Dalian Others, Liaoning 24.98 98.28 24.98 49.14 500.01 South Korea Dalian Customs,Liaoning 11.55 2.94 5.78 500.00 Hong Kong Dalian Customs,Liaoning 39.34 10.00 19.67 500.01 US Dalian Customs,Liaoning 47.38 12.04 23.69 500.00 Dalian Eco. and Tech. Dev. Zone, Liaoning 9.72 38.26 9.72 21.75 568.55 Hong Kong Dalian Customs,Liaoning 38.26 9.72 21.75 568.55 Huludao, Liaoning 5.06 19.90 5.06 11.50 577.94 Hong Kong Shenyang Customs,Liaoning 19.90 5.06 11.50 577.94 North 39.05 153.61 39.05 102.98 670.41 Beijing (Chaoyang District) 39.05 153.61 39.05 102.98 670.41 South Korea Beijing Customs,Beijing 1.57 0.40 1.07 678.78 Japan Beijing Customs,Beijing 3.44 0.87 2.31 672.58 Hong Kong Beijing Customs,Beijing 2.57 0.65 1.73 674.18 Canada Beijing Customs,Beijing 8.48 2.16 5.72 674.81 France Beijing Customs,Beijing 6.41 1.63 4.27 666.04 Russia Beijing Customs,Beijing 8.63 2.19 5.83 675.28 Singapore Beijing Customs,Beijing 7.96 2.02 5.32 668.68 UAE Beijing Customs,Beijing 11.79 3.00 7.89 669.84 US Beijing Customs,Beijing 58.85 14.96 39.44 670.19 UK Beijing Customs,Beijing 2.72 0.69 1.82 670.59 Germany Beijing Customs,Beijing 11.31 2.88 7.52 664.43 Ethiopia Beijing Customs,Beijing 4.91 1.25 3.34 680.51 Sweden Beijing Customs,Beijing 3.32 0.84 2.22 670.69 Netherlands Beijing Customs,Beijing 3.02 0.77 2.01 666.89 Qatar Beijing Customs,Beijing 3.77 0.96 2.55 676.92 Indonesia Beijing Customs,Beijing 1.59 0.40 1.06 671.29 Finland Beijing Customs,Beijing 3.05 0.78 2.01 657.49 Switzerland Beijing Customs,Beijing 2.46 0.63 1.63 664.23 Thailand Beijing Customs,Beijing 2.63 0.67 1.76 671.74 Austria Beijing Customs,Beijing 1.76 0.45 1.17 662.51 Malaysia Beijing Customs,Beijing 2.02 0.51 1.37 679.86 Sri Lanka Beijing Customs,Beijing 1.37 0.35 0.92 670.07 East 196.77 774.06 196.77 462.54 597.56 Shanghai (Pudong New Area) 75.60 297.39 75.60 194.12 652.72 South Korea Shanghai Customs,Shanghai 3.36 0.85 2.27 676.99 Japan Shanghai Customs,Shanghai 8.30 2.11 5.59 673.13 Hong Kong Shanghai Customs,Shanghai 31.50 8.01 16.27 516.48 Canada Shanghai Customs,Shanghai 5.75 1.46 3.74 650.19 France Shanghai Customs,Shanghai 10.99 2.80 7.35 668.55 Russia Shanghai Customs,Shanghai 23.78 6.05 15.97 671.63 Singapore Shanghai Customs,Shanghai 11.66 2.96 7.80 668.84 UAE Shanghai Customs,Shanghai 14.48 3.68 9.54 658.89 US Shanghai Customs,Shanghai 62.99 16.01 42.12 668.68 Vietnam Shanghai Customs,Shanghai 2.47 0.63 1.67 676.67 UK Shanghai Customs,Shanghai 9.84 2.50 6.59 669.75 Germany Shanghai Customs,Shanghai 26.04 6.62 17.30 664.22 Ethiopia Shanghai Customs,Shanghai 5.62 1.43 3.80 675.74 Sweden Shanghai Customs,Shanghai 3.93 1.00 2.65 674.73 Netherlands Shanghai Customs,Shanghai 6.50 1.65 4.35 668.97 Qatar Shanghai Customs,Shanghai 7.07 1.80 4.74 670.63 Turkey Shanghai Customs,Shanghai 4.32 1.10 2.83 654.25 Indonesia Shanghai Customs,Shanghai 2.76 0.70 1.85 669.81 Luxembourg Shanghai Customs,Shanghai 3.56 0.90 2.40 673.51 Finland Shanghai Customs,Shanghai 3.17 0.81 2.14 672.97 Switzerland Shanghai Customs,Shanghai 4.65 1.18 3.09 664.52 New Zealand Shanghai Customs,Shanghai 3.52 0.90 2.38 674.80 Thailand Shanghai Customs,Shanghai 2.33 0.59 1.58 676.52 Azerbaijan Shanghai Customs,Shanghai 5.45 1.39 3.68 676.21 Australia Shanghai Customs,Shanghai 6.16 1.57 4.15 673.38 Austria Shanghai Customs,Shanghai 2.28 0.58 1.51 663.60 Page 39 of 46
Product imports/exports Chinese jet-kerosine imports and exports in detail, Dec Destination (city, province)* 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t Iran Shanghai Customs,Shanghai 2.76 0.70 1.87 678.75 Malaysia Shanghai Customs,Shanghai 5.88 1.50 3.97 675.45 Philippines Shanghai Customs,Shanghai 2.78 0.71 1.88 676.02 Belgium Shanghai Customs,Shanghai 4.00 1.02 2.69 671.25 Taiwan Shanghai Customs,Shanghai 1.99 0.51 1.34 669.84 Sri Lanka Shanghai Customs,Shanghai 1.27 0.32 0.85 670.33 India Shanghai Customs,Shanghai 1.59 0.40 1.07 671.70 Mexico Shanghai Customs,Shanghai 2.73 0.69 1.83 671.68 Spain Shanghai Customs,Shanghai 1.90 0.48 1.27 670.17 Nanjing Others, Jiangsu 13.82 54.36 13.82 31.79 584.73 Hong Kong Nanjing Customs,Jiangsu 2.32 0.59 1.43 616.18 US Nanjing Customs,Jiangsu 37.73 9.59 21.33 565.25 Vietnam Nanjing Customs,Jiangsu 1.38 0.35 0.84 610.59 Germany Nanjing Customs,Jiangsu 3.65 0.93 2.22 606.35 Thailand Nanjing Customs,Jiangsu 4.84 1.23 3.04 628.98 Australia Nanjing Customs,Jiangsu 2.90 0.74 1.97 681.29 Italy Nanjing Customs,Jiangsu 1.55 0.39 0.96 619.42 Qingdao Eco./Tech.Dev. Zone, Shandong 29.23 114.98 29.23 62.24 541.30 Singapore Qingdao Customs,Shandong 114.98 29.23 62.24 541.30 Ningbo Others, Zhejiang 70.35 276.77 70.35 158.23 571.68 South Korea Ningbo Customs,Zhejiang 39.94 10.15 19.23 481.46 Japan Ningbo Customs,Zhejiang 40.00 10.17 24.00 600.00 Hong Kong Ningbo Customs,Zhejiang 156.83 39.87 91.00 580.21 Singapore Ningbo Customs,Zhejiang 40.00 10.17 24.00 600.00 Qingdao Others, Shandong 0.42 1.63 0.42 1.12 683.82 Germany Qingdao Customs,Shandong 1.63 0.42 1.12 683.82 Shanghai (Jinshan) 7.35 28.93 7.35 15.06 520.76 Hong Kong Shanghai Customs,Shanghai 28.93 7.35 15.06 520.76 South 137.19 539.71 137.19 299.03 554.06 Maoming, Guangdong 14.61 57.49 14.61 31.78 552.73 Vietnam Zhanjiang Customs,Guangdong 43.40 11.03 24.73 569.77 Macao Zhanjiang Customs,Guangdong 14.09 3.58 7.05 500.28 Sanya, Hainan 1.24 4.86 1.24 3.49 717.70 Russia Haikou Customs,Hainan 4.86 1.24 3.49 717.70 Guangzhou Others, Guangdong 58.14 228.71 58.14 139.93 611.83 Japan Guangzhou Customs,Guangdong 27.14 6.90 15.18 559.44 Hong Kong Huangpu Customs,Guangdong 4.30 1.09 2.58 600.00 Singapore Guangzhou Customs,Guangdong 28.04 7.13 15.16 540.71 Macao Huangpu Customs,Guangdong 9.20 2.34 4.51 490.00 UK Guangzhou Customs,Guangdong 130.34 33.13 84.85 651.01 Taiwan Guangzhou Customs,Guangdong 29.70 7.55 17.65 594.38 Huizhou Others, Guangdong 42.77 168.25 42.77 80.04 475.73 Hong Kong Shenzhen Customs,Guangdong 95.15 24.19 45.41 477.20 Vietnam Shenzhen Customs,Guangdong 45.05 11.45 21.56 478.54 Philippines Shenzhen Customs,Guangdong 28.05 7.13 13.08 466.20 Xiamen SEZ, Fujian 0.80 3.14 0.80 2.07 659.87 Hong Kong Xiamen Customs,Fujian 3.14 0.80 2.07 659.87 Shenzhen SEZ, Guangdong 3.18 12.49 3.18 6.77 541.98 South Korea Shenzhen Customs,Guangdong 1.53 0.39 0.83 542.95 Japan Shenzhen Customs,Guangdong 3.28 0.83 1.77 538.86 US Shenzhen Customs,Guangdong 3.76 0.96 2.04 543.23 Thailand Shenzhen Customs,Guangdong 1.49 0.38 0.81 542.59 Malaysia Shenzhen Customs,Guangdong 2.44 0.62 1.32 543.29 Qinzhou, Guangxi 16.47 64.77 16.47 34.95 539.62 Hong Kong Nanning Customs,Guangxi 64.77 16.47 34.95 539.62 Central 6.19 24.33 6.19 16.83 691.81 Chengdu Others, Sichuan 1.90 7.48 1.90 5.26 703.30 Hong Kong Chengdu Customs,Sichuan 7.48 1.90 5.26 703.30 Zhengzhou Others, Henan 3.58 14.08 3.58 9.64 684.40 Russia Zhengzhou Customs,Henan 2.79 0.71 1.91 684.48 US Zhengzhou Customs,Henan 2.40 0.61 1.65 684.28 Netherlands Zhengzhou Customs,Henan 3.76 0.96 2.58 684.38 Luxembourg Zhengzhou Customs,Henan 5.12 1.30 3.51 684.43 Chongqing (Chongqing Liangjiang New) 0.70 2.77 0.70 1.93 698.45 Russia Chongqing Customs,Chongqing 1.28 0.33 0.90 701.33 Finland Chongqing Customs,Chongqing 1.49 0.38 1.04 695.97 Other 11.03 43.38 11.03 28.56 658.28 Various 11.03 43.38 11.03 28.56 658.28 Various small cargoes 43.38 11.03 28.56 658.28 Total exports 429.98 1,691.53 429.98 992.34 586.65 Net imports -342.70 ^ Destination (for imports) and origin (exports) in the customs entry usually refers to the shipment s final destination, but occasionally indicates an intermediate point. Yangtze river delta destinations. Considerable volumes of crude designated as being for Yangtze delta destinations in the customs data end up at mid- Yangtze refineries. Pearl river delta destinations. Imports and exports data from China General Administration of Customs Page 40 of 46
Product imports/exports Chinese gasoil/diesel imports and exports in detail, Nov Destination (city, province)* 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t Other 0.29 1.11 0.29 0.70 623.88 Various 0.29 1.11 0.29 0.70 623.88 Various small cargoes 1.11 0.29 0.70 623.88 Total imports 0.29 1.11 0.29 0.70 623.88 Exports by origin (City, Province)^ 000 b/d Destination Departure customs 000t 000 b/d $mn $/t Northeast 111.65 425.05 111.65 220.17 517.99 Jinzhou, Liaoning 14.18 54.00 14.18 29.70 550.00 Singapore Shenyang Customs,Liaoning 27.00 7.09 14.85 550.00 Hong Kong Shenyang Customs,Liaoning 27.00 7.09 14.85 550.00 Liaoyuan, Liaoning 15.88 60.44 15.88 31.51 521.32 Singapore Dalian Customs,Liaoning 60.44 15.88 31.51 521.32 Dalian Others, Liaoning 25.66 97.70 25.66 49.55 507.18 Singapore Dalian Customs,Liaoning 19.07 5.01 9.55 500.52 Hong Kong Dalian Customs,Liaoning 39.11 10.27 20.04 512.45 New Zealand Dalian Customs,Liaoning 39.52 10.38 19.97 505.16 Huludao, Liaoning 15.50 59.00 15.50 32.45 550.00 Hong Kong Shenyang Customs,Liaoning 29.00 7.62 15.95 550.00 South Korea Shenyang Customs,Liaoning 30.00 7.88 16.50 550.00 Dalian Eco. and Tech. Dev. Zone, Liaoning 40.43 153.91 40.43 76.96 500.05 Singapore Dalian Customs,Liaoning 42.00 11.03 23.10 550.00 South Korea Dalian Customs,Liaoning 82.68 21.72 40.01 483.88 Philippines Dalian Customs,Liaoning 29.24 7.68 13.86 473.99 North 11.08 42.18 11.08 19.95 472.89 Tianjin (Binhai New Area) 0.35 1.33 0.35 0.87 655.17 Panama Tianjin Customs,Tianjin 1.33 0.35 0.87 655.17 Tianjin (Binhai New Area (Dagang)) 10.73 40.84 10.73 19.07 466.93 Netherlands Tianjin Customs,Tianjin 40.84 10.73 19.07 466.93 East 216.33 823.61 216.33 425.61 516.76 Shanghai (Jinshan) 31.49 119.89 31.49 59.96 500.15 Hong Kong Shanghai Customs,Shanghai 29.94 7.87 14.98 500.27 Bangladesh Shanghai Customs,Shanghai 29.94 7.86 14.97 499.92 South Korea Shanghai Customs,Shanghai 60.00 15.76 30.02 500.22 Qingdao Others, Shandong 4.77 18.16 4.77 8.23 453.00 Singapore Qingdao Customs,Shandong 16.58 4.36 7.46 449.73 Panama Qingdao Customs,Shandong 1.58 0.42 0.77 487.34 Nanjing Pukou high-tech export 33.19 126.37 33.19 72.84 576.42 Singapore Nanjing Customs,Jiangsu 23.58 6.19 12.97 550.00 Bangladesh Nanjing Customs,Jiangsu 33.95 8.92 22.07 650.00 South Korea Nanjing Customs,Jiangsu 33.98 8.93 21.30 626.82 Philippines Nanjing Customs,Jiangsu 34.86 9.16 16.51 473.51 Qingdao Eco./ Tech. Dev. Zone, Shandong 21.17 80.60 21.17 39.98 496.05 Singapore Qingdao Customs,Shandong 80.60 21.17 39.98 496.05 Shanghai (Pudong New Area) 8.08 30.77 8.08 13.00 422.42 South Korea Shanghai Customs,Shanghai 29.45 7.74 12.37 419.85 Panama Shanghai Customs,Shanghai 1.32 0.35 0.63 479.91 Ningbo Others, Zhejiang 91.80 349.49 91.80 184.26 527.21 Singapore Ningbo Customs,Zhejiang 74.91 19.68 34.93 466.31 Hong Kong Ningbo Customs,Zhejiang 75.08 19.72 45.05 600.00 Bangladesh Ningbo Customs,Zhejiang 174.50 45.84 90.53 518.77 South Korea Ningbo Customs,Zhejiang 25.00 6.57 13.75 550.00 Nanjing Others, Jiangsu 25.83 98.33 25.83 47.34 481.47 South Korea Nanjing Customs,Jiangsu 34.74 9.13 15.63 450.00 Philippines Nanjing Customs,Jiangsu 63.59 16.70 31.71 498.66 South 188.43 717.38 188.43 352.11 490.83 Maoming, Guangdong 8.13 30.96 8.13 15.76 508.95 Macao Zhanjiang Customs,Guangdong 12.36 3.25 6.05 489.68 Myanmar Kunming Customs,Yunnan 8.67 2.28 3.74 432.03 Vietnam Zhanjiang Customs,Guangdong 9.94 2.61 5.96 599.96 Yangpu Eco. Dev. Zone, Hainan 58.72 223.55 58.72 115.28 515.67 Singapore Haikou Customs,Hainan 55.25 14.51 29.49 533.79 Hong Kong Haikou Customs,Hainan 43.02 11.30 21.80 506.64 South Korea Haikou Customs,Hainan 78.37 20.59 39.77 507.41 Philippines Haikou Customs,Hainan 40.21 10.56 20.63 513.00 Vietnam Haikou Customs,Hainan 6.70 1.76 3.60 537.02 Huizhou Others, Guangdong 64.76 246.55 64.76 105.48 427.82 Singapore Huangpu Customs,Guangdong 75.60 19.86 31.43 415.79 Philippines Huangpu Customs,Guangdong 116.30 30.55 49.96 429.58 3.61 Shenzhen Customs,Guangdong 13.75 3.61 7.08 514.84 Mexico Huangpu Customs,Guangdong 40.90 10.74 17.01 415.80 Guangzhou Others, Guangdong 5.53 21.07 5.53 10.83 513.81 Myanmar Kunming Customs,Yunnan 10.57 2.78 5.47 517.60 Philippines Huangpu Customs,Guangdong 10.50 2.76 5.36 510.00 Quanzhou, Fujian 51.29 195.26 51.29 104.77 536.59 Singapore Xiamen Customs,Fujian 41.79 10.98 22.35 534.74 South Korea Xiamen Customs,Fujian 122.57 32.20 66.44 542.02 Philippines Xiamen Customs,Fujian 30.89 8.11 15.99 517.53 Other 4.55 17.31 4.55 10.22 590.17 Various 4.55 17.31 4.55 10.22 590.17 Various small cargoes 17.31 4.55 10.22 590.17 Total exports 532.04 2,025.53 532.04 1,028.05 507.55 Net imports -531.75 ^ Destination (for imports) and origin (exports) in the customs entry usually refers to the shipment s final destination, but occasionally indicates an intermediate point. Yangtze river delta destinations. Considerable volumes of crude designated as being for Yangtze delta destinations in the customs data end up at mid- Yangtze refineries. Pearl river delta destinations. Imports and exports data from China General Administration of Customs Page 41 of 46
Product imports/exports Chinese gasoil/diesel imports and exports in detail, Dec Destination (city, province)* 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t East 0.76 3.00 0.76 1.85 614.85 Zhangjiagang Others, Jiangsu 0.76 3.00 0.76 1.85 614.85 South Korea Nanjing Customs, Jiangsu 3.00 0.76 1.85 614.85 Other 0.21 0.83 0.21 0.47 564.17 Various 0.21 0.83 0.21 0.47 564.17 Various small cargoes 0.83 0.21 0.47 564.17 Total imports 0.97 3.83 0.97 2.31 603.92 Exports by origin (City, Province)^ 000 b/d Destination Departure customs 000t 000 b/d $mn $/t Northeast 115.11 452.84 115.11 248.21 548.12 Jinzhou, Liaoning 13.68 53.80 13.68 29.59 550.00 Hong Kong Shenyang Customs,Liaoning 26.80 6.81 14.74 550.00 South Korea Shenyang Customs,Liaoning 27.00 6.86 14.85 550.00 Liaoyuan, Liaoning 15.60 61.38 15.60 33.94 552.90 Hong Kong Dalian Customs,Liaoning 61.38 15.60 33.94 552.90 Dalian Others, Liaoning 60.12 236.50 60.12 129.37 547.01 Singapore Dalian Customs,Liaoning 79.74 20.27 43.58 546.51 Hong Kong Dalian Customs,Liaoning 39.95 10.16 21.87 547.42 South Korea Dalian Customs,Liaoning 76.95 19.56 42.13 547.52 Mexico Dalian Customs,Liaoning 39.86 10.13 21.79 546.63 Huludao, Liaoning 15.23 59.92 15.23 32.78 547.10 Hong Kong Shenyang Customs,Liaoning 30.00 7.63 16.50 550.00 South Korea Shenyang Customs,Liaoning 29.92 7.61 16.28 544.19 Dalian Eco. and Tech. Dev. Zone, Liaoning 10.49 41.25 10.49 22.53 546.33 South Korea Dalian Customs,Liaoning 41.25 10.49 22.53 546.33 North 68.75 270.45 68.75 137.27 507.55 Tianjin (Binhai New Area (Dagang)) 68.75 270.45 68.75 137.27 507.55 Singapore Tianjin Customs,Tianjin 161.49 41.05 81.13 502.36 South Korea Tianjin Customs,Tianjin 39.34 10.00 19.74 501.89 Mexico Tianjin Customs,Tianjin 69.63 17.70 36.40 522.78 East 144.23 567.41 144.23 287.35 506.43 Shanghai (Jinshan) 23.02 90.56 23.02 48.28 533.16 Hong Kong Shanghai Customs,Shanghai 29.46 7.49 15.65 531.30 Bangladesh Shanghai Customs,Shanghai 61.10 15.53 32.63 534.06 Qingdao Eco. and Tec. Dev.Zone, Shandong 41.15 161.89 41.15 83.61 516.43 Singapore Qingdao Customs,Shandong 161.89 41.15 83.61 516.43 Shanghai (Pudong New Area) 14.93 58.73 14.93 26.52 451.62 South Korea Shanghai Customs,Shanghai 58.73 14.93 26.52 451.62 Ningbo Others, Zhejiang 25.38 99.85 25.38 50.85 509.24 Singapore Ningbo Customs,Zhejiang 25.01 6.36 12.31 492.28 Bangladesh Ningbo Customs,Zhejiang 49.89 12.68 26.22 525.47 South Korea Ningbo Customs,Zhejiang 24.95 6.34 12.32 493.79 Nanjing Others, Jiangsu 28.65 112.70 28.65 54.33 482.05 Singapore Nanjing Customs,Jiangsu 35.56 9.04 15.86 446.01 Philippines Nanjing Customs,Jiangsu 77.13 19.61 38.46 498.66 Zhoushan, Zhejiang 0.87 3.41 0.87 2.05 601.53 Hong Kong Hangzhou Customs,Zhejiang 2.04 0.52 1.20 586.28 Liberia Hangzhou Customs,Zhejiang 1.37 0.35 0.85 624.27 Weifang Other, Shandong 10.24 40.27 10.24 21.72 539.28 Singapore Qingdao Customs,Shandong 40.27 10.24 21.72 539.28 South 173.91 684.16 173.91 356.73 521.42 Maoming, Guangdong 5.88 23.13 5.88 11.99 518.25 Macao Zhanjiang Customs,Guangdong 6.61 1.68 3.76 568.73 Myanmar Kunming Customs,Yunnan 6.58 1.67 2.76 419.54 Hong Kong Zhanjiang Customs,Guangdong 9.94 2.53 5.47 550.04 Yangpu Eco. Dev. Zone, Hainan 1.68 6.60 1.68 3.66 553.94 Vietnam Haikou Customs,Hainan 6.60 1.68 3.66 553.94 Huizhou Others, Guangdong 76.94 302.67 76.94 150.05 495.75 Singapore Shenzhen Customs,Guangdong 37.00 9.41 19.01 513.81 Hong Kong Huangpu Customs,Guangdong 40.00 10.17 16.63 415.80 4.96 Shenzhen Customs,Guangdong 19.50 4.96 10.21 523.49 South Korea Shenzhen Customs,Guangdong 16.90 4.30 9.31 551.12 Philippines Shenzhen Customs,Guangdong 189.27 48.11 94.88 501.31 Guangzhou Others, Guangdong 15.29 60.14 15.29 33.02 549.08 Myanmar Kunming Customs,Yunnan 10.14 2.58 5.17 510.01 Hong Kong Huangpu Customs,Guangdong 30.00 7.63 16.75 558.33 Philippines Huangpu Customs,Guangdong 20.00 5.08 11.10 555.03 Quanzhou, Fujian 25.05 98.56 25.05 55.48 562.92 Singapore Xiamen Customs,Fujian 39.95 10.15 21.88 547.84 Philippines Xiamen Customs,Fujian 58.61 14.90 33.60 573.20 Qinzhou, Guangxi 49.08 193.06 49.08 102.54 531.13 Hong Kong Nanning Customs,Guangxi 38.36 9.75 19.84 517.30 Philippines Nanning Customs,Guangxi 38.23 9.72 19.80 517.96 Mexico Nanning Customs,Guangxi 38.76 9.85 20.93 540.00 Australia Nanning Customs,Guangxi 77.71 19.75 41.96 540.00 Other 4.91 19.32 4.91 11.53 596.99 Various 4.91 19.32 4.91 11.53 596.99 Various small cargoes 19.32 4.91 11.53 596.99 Total exports 506.91 1,994.17 506.91 1,041.09 522.07 Net imports -505.94 ^ Destination (for imports) and origin (exports) in the customs entry usually refers to the shipment s final destination, but occasionally indicates an intermediate point. Yangtze river delta destinations. Considerable volumes of crude designated as being for Yangtze delta destinations in the customs data end up at mid- Yangtze refineries. Pearl river delta destinations. Imports and exports data from China General Administration of Customs Page 42 of 46
Product imports/exports Chinese gasoline imports and exports in detail, Nov Destination (city, province)* 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t Total imports 0.00 0.00 0.00 0.00 0.00 Exports by origin (city, province)^ 000 b/d Destination Departure customs 000t 000 b/d $mn $/t Northeast 143.81 510.57 143.81 273.40 535.48 Jinzhou, Liaoning 22.53 80.00 22.53 44.80 560.00 Singapore Shenyang Customs,Liaoning 70.00 19.72 39.20 560.00 Japan Shenyang Customs,Liaoning 10.00 2.82 5.60 560.00 Dalian Eco. and Tech. Dev. Zone, Liaoning 60.08 213.32 60.08 105.20 493.17 Singapore Dalian Customs,Liaoning 69.65 19.62 31.36 450.20 Indonesia Dalian Customs,Liaoning 69.41 19.55 40.00 576.25 Malaysia Dalian Customs,Liaoning 70.59 19.88 31.77 449.99 Philippines Dalian Customs,Liaoning 3.67 1.03 2.08 568.08 Huludao, Liaoning 19.44 69.00 19.44 38.64 560.00 Singapore Shenyang Customs,Liaoning 35.00 9.86 19.60 560.00 South Korea Shenyang Customs,Liaoning 10.50 2.96 5.88 560.00 Australia Shenyang Customs,Liaoning 23.50 6.62 13.16 560.00 Dalian Others, Liaoning 41.76 148.25 41.76 84.76 571.72 Singapore Dalian Customs,Liaoning 148.25 41.76 84.76 571.72 East 16.68 59.23 16.68 28.69 484.35 Shanghai (Pudong New Area) 8.28 29.41 8.28 12.35 420.00 Indonesia Shanghai Customs,Shanghai 29.41 8.28 12.35 420.00 Qingdao Eco. and Tec. Dev.Zone, Shandong 8.40 29.82 8.40 16.33 547.83 Singapore Qingdao Customs,Shandong 29.82 8.40 16.33 547.83 South 133.12 472.61 133.12 263.71 557.98 Maoming, Guangdong 5.55 19.71 5.55 11.24 570.23 Singapore Zhanjiang Customs,Guangdong 9.94 2.80 5.97 599.96 Macao Zhanjiang Customs,Guangdong 7.80 2.20 4.34 556.67 Myanmar Kunming Customs,Yunnan 1.96 0.55 0.93 473.50 Qinzhou, Guangxi 0.56 2.00 0.56 1.16 577.50 Singapore Nanning Customs,Guangxi 2.00 0.56 1.16 577.50 Quanzhou, Fujian 49.97 177.40 49.97 108.74 612.94 Singapore Xiamen Customs,Fujian 70.86 19.96 44.12 622.67 Indonesia Xiamen Customs,Fujian 35.92 10.12 22.12 615.95 Malaysia Xiamen Customs,Fujian 70.63 19.90 42.50 601.65 Huizhou Others, Guangdong 53.60 190.30 53.60 95.36 501.08 Singapore Huangpu Customs,Guangdong 113.90 32.08 60.10 527.66 Malaysia Huangpu Customs,Guangdong 38.60 10.87 17.81 461.45 Philippines Huangpu Customs,Guangdong 37.80 10.65 17.44 461.46 Yangpu Eco. Dev. Zone, Hainan 22.96 81.50 22.96 46.29 568.04 Singapore Haikou Customs,Hainan 27.00 7.61 15.34 568.04 Malaysia Haikou Customs,Hainan 54.50 15.35 30.96 568.04 Guangzhou Others, Guangdong 0.48 1.70 0.48 0.93 545.51 Myanmar Kunming Customs,Yunnan 1.70 0.48 0.93 545.51 Other 0.03 0.09 0.03 0.10 1,089.89 Various 0.03 0.09 0.03 0.10 1,089.89 Various small cargoes 0.09 0.03 0.10 1,089.89 Total exports 293.64 1,042.50 293.64 565.89 542.82 Net imports -293.64 ^ Destination (for imports) and origin (exports) in the customs entry usually refers to the shipment s final destination, but occasionally indicates an intermediate point. Yangtze river delta destinations. Considerable volumes of crude designated as being for Yangtze delta destinations in the customs data end up at mid-yangtze refineries. Pearl river delta destinations. Imports and exports data from China General Administration of Customs Chinese naphtha imports and exports in detail, Nov Destination (city, province)* 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t East 139.23 469.31 139.23 261.88 558.01 Zhoushan, Zhejiang 53.85 181.52 53.85 99.55 548.42 Egypt Hangzhou Customs, Zhejiang 25.42 7.54 13.97 549.60 Russia Hangzhou Customs, Zhejiang 156.11 46.31 85.58 548.22 Shanghai (Jinshan) 34.58 116.56 34.58 67.80 581.65 South Korea Shanghai Customs, Shanghai 93.92 27.86 53.97 574.63 Pakistan Shanghai Customs, Shanghai 22.64 6.72 13.83 610.77 Qingdao Eco. Tech. Dev. Zone, Shandong 50.80 171.23 50.80 94.53 552.08 South Korea Qingdao Customs, Shandong 171.23 50.80 94.53 552.08 South 47.42 159.83 47.42 92.46 578.51 Huizhou Others, Guangdong 47.42 159.83 47.42 92.46 578.51 India Shenzhen Customs, Guangdong 22.50 6.68 11.73 521.11 Algeria Shenzhen Customs, Guangdong 84.91 25.19 49.81 586.68 Russia Shenzhen Customs, Guangdong 52.42 15.55 30.92 589.92 Total imports 186.65 629.14 186.65 354.34 563.22 Exports by origin (City, Province)^ 000 b/d Destination Departure customs 000t 000 b/d $mn $/t Total exports 0.00 0.00 0.00 0.00 0.00 Net imports 186.65 ^ Destination (for imports) and origin (exports) in the customs entry usually refers to the shipment s final destination, but occasionally indicates an intermediate point. Imports and exports data from China General Administration of Customs Page 43 of 46
Product imports/exports Chinese gasoline imports and exports in detail, Dec Destination (city, province)* 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t Total imports 0.00 0.00 0.00 0.00 0.00 Exports by origin (city, province)^ 000 b/d Destination Departure customs 000t 000 b/d $mn $/t Northeast 151.90 557.26 151.90 332.27 535.48 Jinzhou, Liaoning 21.64 79.40 21.64 44.46 560.00 Singapore Shenyang Customs,Liaoning 43.80 11.94 24.53 560.00 Philippines Shenyang Customs,Liaoning 9.60 2.62 5.38 560.00 Australia Shenyang Customs,Liaoning 8.70 2.37 4.87 493.17 Papua New Guinea Shenyang Customs,Liaoning 17.30 4.72 9.69 450.20 Dalian Eco. and Tech. Dev. Zone, Liaoning 39.03 143.19 39.03 88.95 576.25 Singapore Dalian Customs,Liaoning 104.69 28.54 64.96 449.99 Indonesia Dalian Customs,Liaoning 34.76 9.47 21.67 568.08 Philippines Dalian Customs,Liaoning 3.74 1.02 2.33 560.00 Huludao, Liaoning 27.76 101.84 27.76 55.57 560.00 Singapore Shenyang Customs,Liaoning 36.48 9.94 20.32 560.00 Malaysia Shenyang Customs,Liaoning 31.36 8.55 16.21 560.00 South Korea Shenyang Customs,Liaoning 34.00 9.27 19.04 571.72 Dalian Others, Liaoning 63.46 232.83 63.46 143.28 571.72 Singapore Dalian Customs,Liaoning 180.39 49.17 111.04 484.35 Malaysia Dalian Customs,Liaoning 17.48 4.76 10.74 420.00 Mexico Dalian Customs,Liaoning 34.96 9.53 21.50 420.00 North 14.98 54.97 14.98 33.66 547.83 Beijing (Xicheng) 14.98 54.97 14.98 33.66 547.83 Malaysia Qingdao Customs,Shandong 54.97 14.98 33.66 557.98 East 48.71 178.69 48.71 96.75 570.23 Shanghai (Pudong New Area) 8.02 29.41 8.02 13.24 599.96 Singapore Shanghai Customs,Shanghai 29.41 8.02 13.24 556.67 Qingdao Eco. and Tech.Dev. Zone, Shandong 40.69 149.28 40.69 83.52 473.50 Singapore Qingdao Customs,Shandong 149.28 40.69 83.52 577.50 South 119.30 437.66 119.30 250.45 577.50 Maoming, Guangdong 10.29 37.76 10.29 21.95 612.94 Singapore Zhanjiang Customs,Guangdong 29.42 8.02 17.65 622.67 Macao Zhanjiang Customs,Guangdong 5.92 1.61 3.26 615.95 Myanmar Kunming Customs,Yunnan 2.42 0.66 1.04 601.65 Qinzhou, Guangxi 37.52 137.64 37.52 78.26 501.08 Singapore Nanning Customs,Guangxi 137.64 37.52 78.26 527.66 Quanzhou, Fujian 18.82 69.06 18.82 42.98 461.45 Malaysia Xiamen Customs,Fujian 69.06 18.82 42.98 461.46 Huizhou Others, Guangdong 19.57 71.80 19.57 35.46 568.04 Singapore Shenzhen Customs,Guangdong 71.80 19.57 35.46 568.04 Yangpu Eco. Dev. Zone, Hainan 22.32 81.89 22.32 50.47 568.04 Malaysia Haikou Customs,Hainan 81.89 22.32 50.47 545.51 Guangzhou Others, Guangdong 10.77 39.51 10.77 21.33 545.51 Singapore Huangpu Customs,Guangdong 37.97 10.35 20.51 1,089.89 Myanmar Kunming Customs,Yunnan 1.54 0.42 0.83 1,089.89 Other 0.38 1.39 0.38 1.10 1,089.89 Various 0.38 1.39 0.38 1.10 542.82 Various small cargoes 1.39 0.38 1.10 Total exports 335.26 1,229.96 335.26 714.22 Net imports -335.26 ^ Destination (for imports) and origin (exports) in the customs entry usually refers to the shipment s final destination, but occasionally indicates an intermediate point. Yangtze river delta destinations. Considerable volumes of crude designated as being for Yangtze delta destinations in the customs data end up at mid-yangtze refineries. Pearl river delta destinations. Imports and exports data from China General Administration of Customs Chinese naphtha imports and exports in detail, Dec Destination (city, province)* 000 b/d Origin country Arrival customs 000t 000 b/d $mn $/t North 14.34 49.95 14.34 31.20 624.71 Tianjin (Binhai New Area (Dagang)) 14.34 49.95 14.34 31.20 624.71 India Tianjin Customs, Tianjin 49.95 14.34 31.20 624.71 East 95.66 333.21 95.66 202.58 607.97 Zhoushan, Zhejiang 8.60 29.97 8.60 17.09 570.28 Russia Hangzhou Customs, Zhejiang 29.97 8.60 17.09 570.28 Shanghai (Jinshan) 46.78 162.96 46.78 99.56 610.95 South Korea Shanghai Customs, Shanghai 64.26 18.45 39.01 607.11 India Shanghai Customs, Shanghai 33.13 9.51 20.12 607.31 Singapore Shanghai Customs, Shanghai 65.56 18.82 40.42 616.56 Qingdao Eco. /Tech. Dev. Zone, Shandong 40.28 140.29 40.28 85.93 612.55 South Korea Qingdao Customs, Shandong 140.29 40.28 85.93 612.55 South 65.53 228.23 65.53 137.37 601.88 Huizhou Others, Guangdong 48.87 170.23 48.87 101.97 599.02 Algeria Shenzhen Customs, Guangdong 82.05 23.56 49.42 602.36 Russia Shenzhen Customs, Guangdong 88.18 25.32 52.55 595.92 Quanzhou, Fujian 9.48 33.00 9.48 20.22 612.58 Kuwait Xiamen Customs, Fujian 26.94 7.74 16.51 612.75 UAE Xiamen Customs, Fujian 6.06 1.74 3.71 611.79 Zhuhai zone, Guangdong 7.18 25.00 7.18 15.18 607.20 US Zhuhai Customs, Guangdong 25.00 7.18 15.18 607.20 Total imports 175.53 611.39 175.53 371.15 607.06 Exports by origin (City, Province)^ 000 b/d Destination Departure customs 000t 000 b/d $mn $/t Total exports 0.00 0.00 0.00 0.00 0.00 Net imports 175.53 ^ Destination (for imports) and origin (exports) in the customs entry usually refers to the shipment s final destination, but occasionally indicates an intermediate point. Imports and exports data from China General Administration of Customs Page 44 of 46
Map and graphs China crude infrastructure Khabarovsk K AZA K H S T A N KYRGYZST A N N E P A L Karamay Houshaoshan Alashankou Dushanzi Urumqi Shanshan Lunnan Korla Tazhong Mekong river CHI N A M O N GOL I A Pengzhou Lanzhou Yellow river Chengdu Chongqing Jiangjin Qinhuangdao Beijing Renqiu Dalian Shijiazhuang Tianjin Taiyuan Cangzhou Hejian Hui anbao Linyi Jingbian Qingdao Puyang Rizhao Maling Dongming Xianyang Wanzhou Yangtze river Luoyang Weigang Jingmen Yueyang Wuhan Jinzhou Jiujiang Liaoyang Tieling Harbin Changchun Jilin Fushun Dandong NORTH KOREA Yalujiang Suzhou Shanghai Nanjing Ma anshan Anqing Ningbo SOUTH KOREA Kozmino Crude apparent demand mn b/d 13 12 11 10 9 Jan 16 Apr Jul Oct Jan 17 Jet-kero apparent demand mn b/d 0.9 0.8 0.7 0.6 0.5 0.4 0.3 Jan 16 Crude pipeline Crude pipeline under construction Planned crude pipeline ESPO stage 2 pipeline Planned Burma Road pipeline Completed Burma Road pipeline Oil port Key refineries Planned refineries Rail terminal Apr Jul Oct Jan 17 Apr Jul Oct Apr Jul Oct Ruili M YANMAR ( B URMA) Ramree Petroleum apparent demand mn b/d 14 13 12 11 10 9 Jan 16 Apr Jul Oct Jan 17 Diesel apparent demand mn b/d 3.8 3.6 3.4 3.2 3.0 Jan 16 Baoshan Dali Chuxiong LAO S Apr Jul Oct Jan 17 Kunming VIETNAM Hainan Apr Jul Oct Apr Jul Oct Chenzhou Pearl river Guangzhou Maoming Qinzhou Zhanjiang Beihai Gasoline apparent demand mn b/d 3.2 3.0 2.8 2.6 2.4 2.2 2.0 Jan 16 Apr Jul Oct Jan 17 Fuel oil apparent demand mn b/d 0.7 0.6 0.5 0.4 0.3 Jan 16 Quanzhou Xiamen Xiamen Huizhou Shenzhen Quanzhou Apr Jul Oct Jan 17 T A I W A N Argus Apr Jul Oct Apr Jul Oct Page 45 of 46
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