Industry Analysis & Industry Trends
In 2011, the sales revenue of the Crude Oil and Petroleum Product Processing industry is estimated at $435.75 billion, up 13.5% from 2010. The industry grew at an average annualized rate of 21.0% in the five-year period to 2011. During this time, the world price of oil continuously increased. Since 2010, the Chinese Government has raised domestic oil prices four times. These price increases are expected to increase industry revenue, especially for the major players. As the economy maintained healthy and steady growth in 2011, domestic demand has continued to grow.
Individual major market players continue to seek and expand energy sources and apply new technologies.... purchase to read more
Industry Report - Industry Key Buyers Chapter
There are two major companies operating in this industry: China National Petroleum Corporation (CNPC) and China Petrochemical Corporation (Sinopec Group). The combined revenue of these two companies is estimated to account for about 81.2% of total industry revenue in 2011. The industry concentration level is therefore very high.
Most petroleum resources, and the greater part of factories to process crude oil and produce petroleum products, are controlled by the state-owned enterprises.
The government has developed plans to expand several large, existing projects and to build several new, large projects... purchase to read more