The world’s top oil importer, China, could be just years away from its own peak in domestic demand for oil products, Chinese refiners have started to warn, but consumer preferences and government policies about transport electrification and support for EVs are likely to determine whether Chinese domestic oil consumption will peak around 2025.
China’s largest refiner, Sinopec, said at the end of last year that domestic demand for oil products would peak by 2025 due to COVID impacts and the rise of electric vehicles, Argus reported, citing Sinopec’s research think-tank as saying in its annual report.
“China’s oil products will enter a final growth phase before peaking in the next five years,” the Economics and Development Research Institute (EDRI) at Sinopec said, as carried by Argus.
Lunar New Year festivities look set to be less of a family affair in 2021.
(Bloomberg) For Rachel Tian and millions of other Chinese people Lunar New Year festivities look set to be less of a family affair in 2021.
The Beijing-based securities analyst would normally be preparing to drive to her hometown of Baoding in Hebei province, about two hours away by car, to spend time with her parents. But this year she’s decided to follow the advice of her daughter’s elementary school that children not leave the Chinese capital over the holidays.
“I can’t leave her here and drive back myself,” Tian said. “So this holiday will be the first time in my life that I will not be with my parents.”
Where
The Middle East Institute’s (MEI) Frontier Europe Initiative has recently launched a report,
A Sea Change?: China’s Role in the Black Sea. The report seeks to address China’s policy vis-a-vis the countries of the Black Sea from several angles. What is the nature of China’s presence in the Black Sea? Is China a significant player in the region’s energy scene? What is the state of Chinese-Russian relations?
To answer these questions, we are joined by three authors: Ivan Safranchuk, Michal Meidan, and Michael Gunter.
Speakers: