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    Home > Chemicals Industry > China Chemical > Recovery and Transformation: Key Tone of Global Oil and Gas Industry Development

    Recovery and Transformation: Key Tone of Global Oil and Gas Industry Development

    • Last Update: 2022-05-21
    • Source: Internet
    • Author: User
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      The "2021 Domestic and Foreign Oil and Gas Industry Development Report" (referred to as the "Industry Report") compiled by the national high-end think tank, China National Petroleum Corporation Economic and Technological Research Institute, was officially released in Beijing recently

      The "Industry Report" pointed out that the main keynote of the development of the oil and gas industry at home and abroad in 2021 will be recovery and transformation, and this keynote will continue in 2022

      The "Industry Report" shows that in 2021, the oil market will recover significantly, and the average price of Brent crude oil will rise sharply to US$70.
    95 per barrel, an increase of 64.
    18%; and the U.
    gas prices increased by 397%, 280% and 93% respectively

    Domestically, in 2021, apparent oil consumption will show a negative growth that is rare in recent years, and the external dependence on oil will drop to 72.
    2%; in the same period, natural gas consumption will increase by 12%, and the external dependence will rise to 46%

    In 2021, domestic investment in oil and gas exploration and development will increase, and oil and gas production and reserves will continue to increase.
    Crude oil production will increase by more than 2% to 199 million tons; natural gas production will exceed 200 billion cubic meters for the first time

    In addition, domestic refining and ethylene production capacity has grown rapidly


      The "Industry Report" predicts that in 2022, due to the intensification of geopolitical conflicts and the rise of market panic, the international oil price will fluctuate at a high level, and the possibility of short-term oil prices exceeding the historical high level cannot be ruled out; affected by the relationship between Russia and Ukraine, it is expected that Russian gas will enter Europe.
    Obstructed, there is a high probability that it will flow eastward to Asia, and the US LNG will fill the vacancy in Europe, thereby changing the flow of global trade, and the gas price in Europe and Asia will continue to grow significantly

    Domestically, it is expected that the growth of domestic oil consumption will turn from negative to positive in 2022, the external dependence will resume growth again, while the growth rate of natural gas consumption will slow down

    In 2022, the domestic oil and gas exploration and development and refining capacity will continue to develop rapidly.
    China will become the world's largest oil refining and ethylene producer, but excess refining capacity will restrict the effective development of China's refining and chemical industry

    (Reporter Gao Qi)

    From: China Petroleum News


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