SHANGHAI--(BUSINESS WIRE)--The 13th China Oil Trading Conference 2012 (COTC), presented by CBI BIZ, a branch of CBI China, is to be held on April 10-13 in Beijing, with the aim of probing into China’s petroleum (refined oil products and fuel oil) market trend in 2012 and discussing development of indigenous and foreign companies in China.
The conference will focus on four topics: energy industry transformation and consumption control, petroleum price and macroeconomics, refined oil “shortage” pre-warning and “price reform” mechanism, refined oil and fuel oil trade pattern and its evolvement.
The market trend in China is unclear yet. The state price of refined oil was raised on February 8, while the price reform mechanism has not been initiated, possibly due to concerns over CPI pressure and the impact of oil price fluctuations on the national economy.
China’s Ministry of Industry and Information Technology issued the 12th Five-Year Development Plan for Petrochemical and Chemical Industry in early February. The Plan covering refined oil, crude oil, olefin, natural gas and coal chemical (CTO, CTEG) has set targets for these products’ capacity expansion and industry structure adjustment and provided demand forecasts.
The fuel oil market will see huge challenges in 2012, for the Chinese teapot refineries rely on international market for feedstock, and the Chinese bunker market is also import-dependent. While the global straight-run distillation cost approaches the historical high, the prices of fuel oil from Middle East has kept increasing on the back of the intense political situation. Under these circumstances, the supply and price trend in 2012 will be one of the top concerns of the industry players.
At this year‘s COTC, these topics will be discussed by companies including PetroChina, Sinopec, CNOOC, Sinochem, teapot refineries, government departments, industry experts, and companies from Singapore, Russia, Malaysia, Japan, Korea, Saudi Arabia, Iran, UAE, Kuwait, Venezuela, Columbia, Nigeria, etc.
For more details, please access http://cotc.cbichina.com