An Analysis of Competitive Ability of China's Petroleum and Petrochemical Industries in Resources and Demands

Although the comparative lack of oil and gas resources,the consumption of oil and gas and petrochemical products in China is increasing rapidly. Now,our country's consumption of petroleum is second only to United States and Japan. China has become the third big consumer of petroleum in the world,the import dependency of oil will rise from 25% at present up to 30% in 2010 and more than 50% in 2020. Enlarging import scale of petroleum,natural gas and LPG is imperative under this circumstance. Although the competitiveness of three big Chinese petroleum and petrochemical corporation-PetroChina Company Limited (PetroChina),China Petroleum and Chemical Corporation (SINOPEC),and China National Offshore Oil Corporation (CNOOC) in the world has been gradually strengthened,the gap still exists. It is concluded that to increase more competitiveness and economic benefits is not only necessary,but also the heavy burden and responsibilities.