OPEC and non-OPEC (Non-OPEC) reached the agreement of "joint reduction of oil production" for the first time in 15 years. Non-OPEC total reduction reached 55.8 million barrels/day. The largest oil exporter in the non-OPEC region - Russia will cut their oil production by 20 million barrels in March and 300,000 barrels in April. Experts predict that in 2017 the international oil price may be around 50 US dollars -60 US dollars/barrel. The global oil market will be re-balanced, or even supply slightly less than the demand. Whether US Shale oil production will reduce has a great impact on supply-demand situation and oil prices of international market. 2017 crude oil non-state import trade is permitted to be 87.6 million tons. Enterprises without import performance for two consecutive years will be no longer allowed to import. Chinese Government will be more precise and cautious on teapot refineries certification and regulatory aspects. The Ministry of Commerce announced 2017 crude oil non-state import volume is 87.6 million tons or 176 million barrels/day, equivalent to 26% of 2016 China's crude oil imports(335.5 million tons).
18th China Oil Trading Conference (COTC) 2017 will be held on April 11th to
13th in Nanjing, China. COTC has occupied vital position among so many
China oil conferences with the witness of 18 years and recognition from
over 5000 Chinese and foreign customers. As the top event in China, the
conference will focus on the following hot spots:
Reserve collection & export rebate
rateRecently, the Ministry of Finance issued Regulation of Reserve
Collection for Oil Price Control Risk to ask product oil producers to
pay the part that the international crude oil price is lower than the
Approved by the State Council, the VAT export tax rebate rate of product
oil (gasoline, diesel, aviation kerosene and etc.) was increased to
17% since November 1st, 2017.
The first batch of product oil export quota in 2017 is 12.4 million tons, but
teapot refineries are not on the list, which is in accordance with the news
that there is no processing trade import quota for the teapot refineries
OPEC and non-OPEC (Non-OPEC) reached the agreement of "joint reduction
of oil production" for the first time in the past of 15 years. Non-OPEC total
reduction reached 55.8 million barrels / day. The largest oil exporter in the non
-OPEC region - Russia will cut their oil production by 20 million barrels in March
and 300,000 barrels in April. Experts predict that in 2017 the international oil price may be around
50-60 USD/ barrel. Is this the end of low oil price era?
President Trump vs. IPO of Saudi Aramco
President Trump expressed that the energy policies and regulations would be
adjusted when he took office to increase US crude oil production and restrict the
import of crude oil. Will US increase the production of shale oil? What influence
will President Trump bring to the international oil market and oil price?Saudi
Aramco plans IPO for the first time in 2018 which leads to a great concern the
choice of listing location. Who will become the final winner of this largest ever
IPO among so many well-known stock exchanges around the world has become
the focus of the public.
Treatment to haze: oil update vs. gasoline detergent
The fifth stage vehicle emission standards formally implemented all over China
sinof ce January 1st, 2017. At the same time, China 5 gasoline and
diesel fully launched the market and China 4 has stopped selling.
On one hand, the detergent can protect car engines and save oil; on the other
hand, the detergent may reduce emissions of particulate matter of tail gas.
In addition, the conference will also have deeper discussions on the "light crude
oil, new regulations of marine fuel oil, cross-border transportation and
warehousing of crude oil, Internet+ gas stations". Let’s gather together in Nanjing
at the beginning of the spring in 2017 to explore new opportunities for the
April 11th Tuesday
14:20-14:30 Opening Speech
14:30-16:30 2017 VIP Cocktail Party
Icebreaking——business card exchange
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18:00-20:00 Gala Dinner
April 12th Wednesday AM
09:00-09:40 Analysis and Influence of Global Crude Oil Macro Environment
Influence of OPEC cutting output and analysis of its member states;
09:40-10:20 Main Policy and Trend of China Crude Oil Imports
Status of China strategic crude oil reserves;
10:20-10:50 Coffee Break
10:50-11:30 China Oil Products Market Pattern and its Changes
With export rebates rate of Gasoline, kerosene, diesel and other products increased to 17%, what are the opportunities and challenges of export market?
11:30-12:00 China's Oil Refineries’ Ways of Survival?
With the reveal of new rules for non-state enterprises crude oil import quota, what are the new changes in 2017? How to deal with?
12:00-14:00 Lunch Buffet
April 12th Wednesday PM
14:00-14:40 Crude Oil、Product Oil Transportation Market(China & overseas)
Supertankers shipping market overview--- changes of shipping capacity, freight and route volume;
14:40-15:20 Hot Topic Analysis of Raw Material Market Development
Naphtha industry development and application analysis;
15:20-15:40 Coffee Break
15:40-16:20 Marine Fuel Oil Market Development Analysis
IMO agreed to limit global Marine fuel oil’s sulfur content to 0.5% in 2020. Under the influence of the new rules, what are the changes of world oil refining and oil markets pattern?
16:20-17:00 How to Improve the Competitiveness of Private Gas Station?
The marketing pattern and the existing problems of private gas stations;
17:00-20:00 Dinner Buffet
April 13th Thursday Business Trip to Yangzhou