Energy & Chemicals

Overview of Oil Industry in China

Due to continuous modernization and urbanization over the past years, China experiences huge energy demand and is one of major oil and petroleum consuming economies in the world. The following figures set out China’s production, consumption and import profile over the 5-year period from 2011 to 2015. While China’s oil production grew at a CAGR of approximately 1.4%, it could not catch up the consumption growth at a CAGR of approximately 5.0% over the same period, resulting in the shortfall being fulfilled by import. In 2015, the oil import in…

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