F+L Week 2018 | Wang Dong | Chinese Base Oil Market and Quality Analysis
Due to the highly competitive gasoline and diesel fuel markets in China, state-owned oil companies such as CNPC, Sinopec, CNOOC and independent refineries are all keen to develop their base oil production capacity. It is critical for their long- term strategy. For the last two years, new production capacity of independent refineries reached nearly 1.1 million tonnes. This paper focuses on Chinese base oil output and import volume in recent years. A lot of emphasis is placed on the base oil quality analysis of booming independent refineries. We did some analysis on quality differences and stability, and propose a direction for quality improvement of independent refineries’ base oils. We also introduce the current base oil situation and strategy of PetroChina.