China fuel oil industry drifting narrow road

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Customs data show that from January to July 2010 total domestic crude oil imports soared by 24.21% to reach 139.6 million tons; However, fuel oil imports in the first seven months of a total of 14.077 million tons, up 12.31% to drop. Significant increase in the first seven months of imports of crude oil, while crude oil processing of downstream products as fuel oil imports are likely to drop sharply, reflecting further declines in domestic fuel demand. Nearly 3 years from the domestic fuel oil apparent consumption data, in 2007 43.44 million tons, 36.64 million tons in 2008, 2009, 34 million tons, has been a downward trend, China's fuel oil consumption during the first half of this year continues The shrinking trend. Fuel oil is the residue after the distillation of crude oil, black sticky residue, the current consumption of domestic fuel sources is the main power plant fuel unit, ceramics, glass, and other industrial boilers, small local refineries refining of raw materials and ship transport. China in recent years has been a net importer of fuel oil. China Chemical Network Jiang Xin energy analysts believe that, with the national energy saving, shutting down high-energy, high-polluting enterprises, eliminate backward production capacity, a fuel tax and other policies of the introduction, power plants, industrial boilers, refinery and other enterprises have chosen a natural gas or other alternative fuels, leading to shrinkage of the main domestic fuel demand. Fuel consumption has spread to the shrinkage phenomenon of most of its downstream consumer channels. Jiang Xin analysts believe that the next few years will focus on domestic fuel oil consumption of oil and refining sector in the boat. But with the state restrictions on raw materials to refining enterprises gradually liberalized, the local refinery fuel oil that will eliminate low-quality raw materials, iron hand. The long run, consumer spending is shrinking in the fuel oil, while the overall market, the market share will ship more oil to the transfer forum. China's fuel oil consumption structure will become more and more single, industry development path is lopsided narrow.

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