Feb., 22, 2016, Mumbai, India: Market Reports on China presents the report, on “Research Report on China Oil and Gas 2016”. The greatest upside to our 10-year oil production forecasts stems from commercialisation of deepwater and unconventional resources, which are still in early stages of exploration.
China's crude stockpiling will remain strong as new storage is constantly built, even though the domestic fuels demand however will moderate substantially in the coming years. On the upstream, CNPC's first major tight oil discovery on the Changqing field marks a milestone for Chinese technological capabilities as this is the first unconventional solo discovery by a Chinese NOC. Applying new technologies to unlock vast onshore (unconventional) and offshore (deepwater) resources is the most pertinent upside risk to our long-term oil and gas production forecast. However, rising tensions on the South China Sea will dampen progress for offshore deepwater exploration.
The main trends and developments we highlight for China's oil and gas sector are:We have slightly revised our oil production forecast for 2015 to the upside on the back of a stronger than expected production resurgence from the offshore Penglai field in Q115. However, lower oil prices and Chinese company cuts in oil production targets will still reverse China's yearly growth in oil production from 2015 onwards. We expect output to fall gradually over our forecast period from 4.17mn b/d in 2015 to 3.9mn b/d by 2024. The greatest upside to our 10-year oil production forecasts stems from commercialisation of deepwater and unconventional resources, which are still in early stages of exploration.
Table of Content
Industry View 7
Industry Forecast 11
Oil And Gas Reserves 11
Table: China Proven Oil & Gas Reserves & Total Petroleum Data: Historical Data & Forecasts, 2011-2016 11
Table: China Proven Oil & Gas Reserves & Total Petroleum Data: Long-Term Forecasts, 2017-2022 12
Table: Estimates For Resources In East China And South China Sea 14
Table: Major IOC Involvement In China's Shale Gas Exploration 18
Oil Supply And Demand 22
Table: China Oil Production & Net Exports: Historical Data & Forecasts, 2011-2016 22
Table: China Oil Production & Net Exports: Long-Term Forecasts, 2017-2022 23
Gas Supply And Demand 27
Table: China Gas Production, Consumption & Net Exports: Historical Data & Forecasts, 2011-2016 27
Table: China Gas Production, Consumption & Net Exports: Long-Term Forecasts, 2017-2022 28
Table: Major LNG Supply Deals 40
Refining And Oil Products Trade 41
Table: China Refining - Production & Consumption: Historical Data & Forecasts, 2011-2016 41
Table: China Refining - Production & Consumption: Long-Term Forecasts, 2017-2022 42
Revenues/Import Costs 45
Key Risks To BMI's Forecast Scenario 45
Industry Risk Reward Ratings 46
China - Risk/Reward Ratings 46
China Upstream Rating - Overview 46
China Upstream Rating - Rewards 46
China Upstream Rating - Risks 46
China Downstream Rating - Overview 47
To view a full Executive Summary and Table of Contents, please visit: http://www.marketreportsonchina.com/energy-utility-market-research-reports-2/china-oil-and-gas-report.html
About Author Bio: Sarah Davis is working with MarketReportsonChina which is a portal where you can access thousands of reports on China starting from Aeronautics to Zinc (A-Z). The website provides market reports on different sectors.