Register with us today

and in less than 60 seconds continue your access to:Latest news headlinesAnalytical topics and featuresCommodities videos, podcast & blogsSample market prices & dataSpecial reportsSubscriber notes & daily commodity email alerts

Already have an account?

Log in to register

Forgot Password

Please Note: Platts Market Center subscribers can only reset passwords via the Platts Market Center

Enter your Email ID below and we will send you an email with your password.


  • Email Address* Please enter email address.

If you are a premium subscriber, we are unable to send you your password for security reasons. Please contact the Client Services team.

If you are a Platts Market Center subscriber, to reset your password go to the Platts Market Center to reset your password.

In this list
Oil

Asia to have deficit oil products by 2025 despite China's refining capacity expansion: Trafigura

Commodities | Energy | Oil | Refined Products | Jet Fuel | Coronavirus

Green shoots for jet fuel in sight at the IATA conference

Oil

Platts Market Data – Oil

Oil | Refined Products | Fuel Oil | Shipping | Dry Freight | Marine Fuels | Tankers

Mediterranean Bunker Fuel Conference, 9th Annual

Oil | Petrochemicals

Asia residue fuel market - Key market indicators this week

Asia to have deficit oil products by 2025 despite China's refining capacity expansion: Trafigura

Singapore — Asia will have a deficit of oil products by 2025 despite the expansion of China's refining capacity in recent years, Trafigura's CEO Jeremy Weir said Friday.

"Asia Pacific remains in need to import oil products in order to meet its growing demand in 2025 as the region is short of new refining capacity," Weir said at the International Petroleum and Natural Gas 2019 conference in Zhoushan, east China.

This suggests that China's oil product surplus would find homes in the region.

Weir expects China's surplus products to peak at about 5 million b/d in 2022, while Asia Pacific, excluding China, would continue to see its product deficit widen to about 6 million b/d in 2025, according to Weir's presentation slides.

China will add 900,000 b/d of new refining capacity in 2019 and is expected to have 1.82 million b/d of new capacity in five years, S&P Global Platts data showed.

However, China's domestic demand growth slowed so far this year, leading to an increase in exports. China's net oil product export volume rose 17.9% year on year to 21.59 million mt in January-September, latest data from General Administration of Customs showed.

-- Oceana Zhou, oceana.zhou@spglobal.com

-- Analyst Daisy Xu, daisy.xu@spglobal.com

-- Edited by Norazlina Jumaat, norazlina.jumaat@spglobal.com