Beijing (JLC), June 25, 2019--JLC held the 1st JLC Oil and Refining Seminar in Tokyo, Japan on June 18, 2019. This seminar chosen the theme of opportunities and challenges amid changes in China's energy market, aiming to build a bridge for energy dealings between China and Japan, and let more market participants know the current development of the China market.

    Crystal Yeo, Sales Director of JLC’s International Department, hosted this seminar and delivered the welcome remarks in Japanese. Crystal also introduced JLC's history and products.

    Amanda Zhao, General Manager of JLC’s International Department, delivered a keynote speech regarding the development of China's energy industry under the deepening reform. Amanda first analyzed the opportunities in an oversupplied market, then the challenges the refining industry faces and the way out, and finally introduced other highlights of China's energy market. 

    In the keynote speech, Amanda pointed out the reason for strong enthusiasm for investment in the Chinese refining industry despite slowing oil demand growth and a supply glut amid the overcapacity. As more and more refining-chemical projects came online, more attention will be paid to the integration of refining and chemical, the development of high-end products and “green” development. These changes will cause chemical feedstock demand to replace transportation fuel demand amid the major oil consumption by 2030.

    Meanwhile, Amanda delivered a keynote speech regarding the new development trend for light chemical oil as China's petrochemical industry underwent changes. In her keynote speech, Amanda said that the naphtha shortage in the China market will increase from 2019 to 2030, as new naphtha-based steam crackers and reforming units are started up, although some new crude distillation units will also come on stream. In 2030, the growth of naphtha demand in China will reach 47.85 million mt and the growth of reforming units capacity in China will be 34 million mt, while the growth of naphtha supply in China will reach 44.17 million mt.

    Roger Chen, Vice President of JLC, delivered a keynote speech regarding China Enterprises’ Countermeasures and Impacts on International Market amid IMO2020. 

    In this seminar, JLC introduced the characteristics of China Independent Refinery's crude procurement strategy. Roger took Astro Boy for example, described the trader as Astro Boy アトム, and the boss of private enterprise as Dr. お茶の水博士 (Dr. Ochanomizu-hakase).

    China independent refineries' purchasing and decision-making mechanisms are unpredictable, as crude oil import quota was just opened in 2015, the capacity of independent refineries was small and the business management was a family business. In this seminar, Roger introduced the features of purchasing energy supply from international market by China independent refineries. The participants had benefited greatly from this seminar, as they knew more about how to deal with China independent refineries for concluding a deal.

    The schedule of JLC team in Japan was full, as Japanese clients were enthusiastic and earnest. JLC team communicated on many hot topics, such as RMB exchange rate, IMO2020, China's new integrated refineries, the impact of China-U.S. trade war on crude flow, LPG and jet fuel. JLC gave an exclusive and distinct view for Japanese enterprises on Sino-Japan energy cooperation andthe role of Japan in global trade war. Guns disappear everywhere trade goes.

    JLC with headquarters located in Beijing, and branch offices in Shanghai, Shandong, Guangzhou and Singapore, is a leading provider of market intelligence and pricing solutions for energy and commodities in China.