Argus China Petroleum

Argus China Petroleum covers China's entire oil market, including:

• Crude imports by origin, including Mideast Gulf, Russia, Brazil and west Africa.
• Refinery throughputs by company, region and plant.
• Domestic gasoline, diesel and jet fuel prices in the Bohai bay and Yangtze River Delta markets.
• Petrochemicals feedstock markets including naphtha and LPG.
• Oil demand by product category.
• Government policy, export controls and geopolitical developments.

Argus China Petroleum is a monthly price report and data service covering China's oil markets. It provides news, analysis, price assessments and over 30 datasets on crude imports, refinery operations, product prices and demand across the world's largest net crude importer.

The monthly PDF report is published once a month. News and price assessments are published daily via Argus Direct, ensuring subscribers have access to current market intelligence between monthly editions.

Industry news is published in real time through Argus Direct. The monthly PDF includes in-depth editorial on crude procurement activity, refinery run-rate changes, government policy, product export restrictions and demand shifts across China's oil market.

Argus China Petroleum includes spot crude price assessments for key grades delivered to Shandong, including:

• Tupi.
• ESPO Blend.
• Urals.
• Djeno.
• Oman.
• Johan Sverdrup.

Assessments are expressed as $/bl differentials to the front-month Ice Brent futures settlement price on the date of delivery.

The service includes over 30 datasets, covering:

• Apparent products demand.
• Crude imports and apparent oil demand.
• Crude import quotas.
• Crude production by province and company.
• Crude throughputs survey.
• Refinery runs and output by province.
• Shandong independent CDU capacity.
• Spot crude trade.
• Refining margins.
• LNG supply and demand.

The service includes monthly refinery throughput data for major state-controlled plants operated by Sinopec and PetroChina, as well as greenfield and independent refineries. Data is presented by company, region and plant, with utilisation rates and crude source information.

Argus China Petroleum assesses domestic Chinese gasoline and diesel prices in the Bohai bay and Yangtze River Delta markets. The service also tracks crack spreads, refining margins for state-controlled and independent refiners, and export margins for petrochemicals including polyethylene and polypropylene.

Argus China Petroleum is delivered via:

• Argus Direct — the online client portal providing real-time prices, news, dashboards and downloadable datasets.
• Monthly PDF publication covering editorial analysis and key market data.
• The China Oil Workspace, with over 30 downloadable datasets including currency and unit conversions.

Argus China Petroleum is used by crude oil traders and procurement teams, refiners and corporate planners, financial institutions and analysts, and market researchers and consultants who require verified, timely intelligence on China's oil markets.

Policy changes in China can significantly impact oil and gasoline prices by altering supply, demand, taxation, and regulatory frameworks. For example, adjustments in fuel taxes or subsidies can directly influence retail gasoline prices, while changes in environmental regulations may affect refinery operations and production costs. Additionally, policies related to import tariffs, strategic reserves, and energy consumption targets can shift market dynamics, leading to fluctuations in domestic oil and gasoline prices. Ultimately, these policy decisions aim to balance economic growth, environmental concerns, and energy security, which in turn shape the pricing landscape.

China's crude oil imports this year have shown a dynamic trend influenced by various factors including domestic demand, global oil prices, and geopolitical developments. Overall, imports have been subject to fluctuations but generally indicate a steady or slightly increasing pattern as China continues to support its energy needs amid economic growth and industrial activities. Monitoring monthly import data reveals shifts in volumes as China adjusts procurement strategies to optimize supply and cost efficiency.