【英语中国】中国4年多来首次成为成品油净出口国 China refineries turn it into net exporter of oil products

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所属分类:双语中国

2014-4-12 15:42

小艾摘要: China has become a net exporter of refined oil products such as petrol and diesel for first time in more than four years, underlining the growing size and importance of its domestic refining industry. ...
China refineries turn it into net exporter of oil products
China has become a net exporter of refined oil products such as petrol and diesel for first time in more than four years, underlining the growing size and importance of its domestic refining industry.

Exports of oil products were 650,000 barrels a day in March, up 3.4 per cent on the same month a year ago, according to customs data released yesterday. Imports totalled 560,000b/d, down almost 25 per cent on a year earlier and the lowest since August 2012.

Analysts said this was only the third time since records began in 2004 that China had been net exporter of oil products; the others were December 2009 and January 2010.

“We believe the trend towards China exporting more and importing less refined products will intensify over 2014 and 2015, driven by a large expansion of domestic refining capacity, including 800,000b/d this year,” said Citi analyst Ivan Szpakowski.

China’s fuel consumption rose at the slowest rate in more than two decades in 2013 as the economy slowed, ending a decade of rapid growth that helped drive global oil prices above $100 a barrel.

Yet China has continued to build refineries and add processing capacity. The result has been domestic supply glut that has not only hurt refinery profits but led to a rise in diesel and fuel oil exports to Asia.

Several international oil companies have backtracked on plans to invest in Chinese refineries.

A breakdown of products exported had not yet been released, but Mr Szpakowski said he expected “changes in fuel oil, naphtha and diesel flows to have driven much of the shift”.

Amrita Sen, analyst at Energy Aspects, said the figures were a reflection of excess refining capacity and slowing demand . “This is a story about import compression and burgeoning stocks,” she said.

“Excess refining capacity is leading to higher product supplies domestically. As a result, China is able to pull back on imports.”

Crude oil imports had fallen below 6m b/d for the first time in three months to 5.55m b/d.

Ms Sen said the reason China had not exported more oil products in March was weak margins. “Diesel exports have been challenged by poor economics since the spread between Chinese prices and those in Singapore have been too narrow to allow for profitable exports.”

ICE Brent May fell 0.4 per cent to $107.50 a barrel.

4年多来,中国首次成为汽油、柴油等成品油产品的净出口国,这凸显出该国国内炼油行业的规模正不断扩大、重要性正不断提升。

中国海关昨日公布的数据显示,3月份,中国每日出口成品油65万桶,同比增长3.4%;进口56万桶,同比减少近25%,进口量为2012年8月以来的最低水平。

分析师表示,自2004年开始记录这些数据以来,这只是中国第三次成为成品油净出口国,前两次是在2009年12月和2010年1月。

花旗(Citi)分析师伊万?什帕科夫斯基(Ivan Szpakowski)说:“我们认为,今明两年中国成品油出口增长、进口减少的趋势会进一步加强,推动这一趋势的是中国国内炼油产能的大幅提升,包括今年的每日80万桶。”

随着中国经济增长放缓,2013年中国燃油消费增速达到20多年来的最低水平,10年快速增长的势头临近尾声。这股势头曾帮助将国际油价推高至每桶100美元以上。

但中国仍在兴建炼油厂、扩大加工产能,结果导致国内供给过剩,不仅拖累了炼油厂的利润,也使该国对亚洲出口的柴油和燃料油呈现增长。

几家国际石油公司打消了原本想要投资中国炼油厂的计划。

出口产品的统计明细尚未公布,但什帕科夫斯基表示,他预计“燃料油、石脑油和柴油贸易流动的变化是上述转变的主要推动力”。

咨询机构Energy Aspects的分析师阿姆里塔?森(Amrita Sen)表示,上述数字反映出中国炼油产能过剩和需求放缓。她说:“这意味着进口收缩,而库存激增。

“炼油产能过剩导致国内成品油供给增长。中国由此得以减少成品油的进口。”

原油进口3个月来首次降至每日600万桶以下,至每日555万桶。

森表示,中国3月份没有出口更多成品油的原因是利润微薄。“柴油出口不太上算,因为中国与新加坡的价差现在太小,出口基本无利可图。”

洲际交易所(ICE) 5月交割的布伦特(Brent)原油期货价格下跌0.4%,至每桶107.50美元。

译者/倏尘

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