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EXECUTIVE SUMMARY
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Since the beginning of this year, the continuous reduction of
OPEC ¡®s output and intense situation in Middle East have led to
the oil price up at least a quarter. Benchmark oil price of
standard crude oil in international market rises from less than
20 dollars per barrel in January. to more than 25 dollars at the
beginning of July.
In the first half of this year, the petroleum demand amounts in
USA are steady compared with the situation one year ago roughly.
The demand amounts in June rise 0.4% compared with the same
period in 2001, up to 19,600,000 barrels per day. When the
demand amounts of other oil products such as gasoline, liquid
gas and naphtha are up, the demand amounts of middle cut oil and
fuel oil is down. To accommodate the decreasing demands, the
world petroleum supplies in the first half year are also
reduced. However, the decreasing parts are all from OPEC, OPEC
are losing the market shares. In the second quarter, while
OPEC¡¯s daily output decreases from 27,000,000 barrels to
24,700,000 barrels compared with the same period in 2001, the
supply amounts not from OPEC increase from 46,100,000 barrels to
47,700,000 barrels.
In the first half year, on the premise of overall control, the
output and processing amounts of domestic crude oil keep balance
normally. The yield of crude oil increases smoothly and the
product structure is adjusted according to the market demands in
the aspect of the crude oil¡¯s processing. The yield of kerosene
and diesel oil is up and the proportion of diesel oil is
increased constantly. The yield of crude oil in the first half
year is 84,454,700 tons, up 2% compared with the same period
last year. The processing amounts of crude oil achieve
107,000,000 tons, up 0.98% compared with the same period and the
overall amounts of gasoline, kerosene and diesel oil are
62,841,000 tons, up 1.3% compared with the same period. It is
seen from the variety that the yield of kerosene and diesel
increases and the yield of gasoline decreases. In the first half
year, the yield of kerosene is 4,031,000 tons and the yield of
diesel oil is 38,091,000 tons, up 3.4% and 3.6% compared with
the same period respectively, and the yield of gasoline is
20,719,000 tons, down 3% compared with the same period, and the
yield of natural gas is 16,202,000,000 m3, up 10.48% compared
with the same period. It is seen from different corporations
that the three large corporations¡¯ output of crude oil accounts
for 97% of national yield, among which CNPC accounts for 63.6%
and SINOPEC accounts for 22.3% and CNOOC accounts for 11.3%.
Processing amounts of crude oil of the two large corporations
account for 90% of national processing amounts, among which CNPC
accounts for 40.0% and SINOPEC accounts for 50.0%.
Analyzing according to the statistic documents from the customs
head office, in the first half year, national cumulative import
amounts of crude oil is 32,990,000 tons, up 3.1% compared with
the same period, and cumulative export amounts of crude oil is
3,080,000 tons, down 24.0% compared with the same period, and
national cumulative import amounts of product oil is 7,940,000
tons, down 24.3% compared with the same period, and cumulative
export amounts of product oil is 4,250,000 tons, down 4.5%
compared with the same period.
In the aspect of product oil¡¯s price, according to the changes
of international oil price and the adjusting method of product
oil, the State Planning Commission raises the product oil¡¯s
price in March, April and May in the first half year
respectively. In the first half year, the average producer price
of gasoline and diesel oil (standard products) is 2487 yuan per
ton and 2217yuan per don respectively, down 18.4% and 12.5%. But
the price of gasoline and diesel in June increases 13.56% and
14.87% respectively compared with the beginning of last year.
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