On September 25th, 2017, the 33rd International Energy Seminar - APPEC, opened in the Lion City of Singapore. A number of market insiders of the global oil refining, energy, trade, finance and other fields of the industry come on the scene. JLC Network Technology Co., Ltd., the leading commodity integrated business solution service provider in China, also set up its own sub-venues, attended by nearly 130 international production enterprises and traders, including BP, Vitol, Petrobras, Statoi, Lukoil, etc.

JLC Sub-Venue of The 33rd APPEC

    The meeting was chaired by Ms. Zhao Lei, Senior Manager of JLC International Department. Ms. Zhao Lei made a lecture on “China’s Future Refining & Chemical Integration Road” at the venue. Through a large number of data display and analysis, Ms. Zhao shares with participants China’s oil refining development status, thriving development of independent refineries, prospect of China refining & chemical integration projects and China energy market hotspot,giving full-scale analysis on the development strategies and competition opportunities for China refining & chemical enterprises.

Zhao Lei, Senior Manager of JLC International Department

    Ms. Zhao pointed out that with China's oil refining capacity capacity and output growing steadily in recent years, China's oil refining capacity has ranked second in the world. More and more international energy companies started to pay attention to China energy market. Against this backdrop, JLC can provide accurate data analysis and industry interpretation  after more than ten years of accumulation digging into China energy and chemical industry.

    At the end of the 13th Five-Year Plan period, China's crude oil refining capacity is expected to reach nearly 900 million mt/yr. The proportion of China ’s crude oil primary processing capacity in the world will rise from the current 15% to around 17%. However, due to cyclical and structural factors, China's economy and crude oil demand growths have slowed down. This has aggravated the overcapacity in the China crude oil refining industry. With the global refining complexity continues to improve, China will follow the this tendency and strengthen its integration of large-scale refining projects. Besides, China still has potential of raising its secondary processing capacity.

    The integrated construction model has become the inevitable trend of the future global petrochemical industry development. In the future, the Chinese way of refining will be a step towards clustering and integration for its oil refining and chemical industries. This will fundamentally promote and enhance the quality and efficiently aid with the transformation.

    After the speech given by Ms. Zhao Lei, the guests and the organizers started a heated discussion,mainly focusing on oil refining capacity gap between different regions of China, independent refineries’ transformation, future refining & chemical integration construction,  overseas cooperation opportunities, etc. “Whether it is refinery upgrades, procurement of raw materials or refining & chemical cluster, etc., they are all inseparable from the national policy support and construction.”said Ms. Zhao Lei.