As part of a broader energy sector reform to boost the competitiveness and efficiency of the domestic oil & gas sector longdominated by large state-owned enterprises (SOEs), Beijing is gradually opening up the sector to more private and foreign participation. The pace of reforms to date has been carefully managed. Despite calling for broader SOE reforms in the 13th Five-Year Plan, the government has since campaigned for a bigger, better and stronger SOEs, and in certain instances, have introduced policies derailing private sector growth. A case in point is the domestic refining sector. After being allowed to grow rampantly over much of 2015-2016, the country's independent teapot refineries are coming under increasingly government scrutiny amid allegations of tax evasion and the need to comply with stricter environmental regulations. Although they retain the option to import crude directly from international suppliers, the teapots remain banned from exporting surplus fuels, which leave many of these players largely at the mercy of the health of the overall economy and fuels demand.

Key View

SWOT

Oil & Gas SWOT 

Industry Forecast

Upstream Exploration

Upstream Projects 

Upstream Oil Production

Upstream Gas Production

Refining

Refined Fuels Consumption

Gas Consumption

Oil Trade

Gas Trade

Industry Risk/Reward Index

Upstream Asia: Rewards Scores Subdued, Risks To Upside 

Downstream Asia: DM Refiners Underperform On Lower Rewards

Market Overview

China Energy Market Overview

Oil & Gas Infrastructure

Competitive Landscape

Company Profile

CNOOC

CNPC

Sinopec

Regional Overview

EMs To Drive Asian Fuel, LNG Demand

Industry Trend Analysis

13th Five-Year Plan: Key Points

Oil & Gas Glossary

Oil & Gas Methodology