A Glance of China Oil Market 20251103

On the demand end, the gasoline consumption will remain soft in the traditional seasonal low, while the gasoil consumption lacks strong support in the near term, with downstream players mostly on the sidelines.

A Glance of China Oil Market 20251103

Weekly News

Guangxi Petchem's new ethylene plant to change residential gas flow in S. China

PetroChina Guangxi Petrochemical's 1.20 mln tonnes/year ethylene unit achieved on-specification products on October 27, and the operation will reshape the flow of residential gas in Guangxi region and even the entire South China market. As the first benchmark project of PetroChina to fully shift from oil refining to integrated refining and chemical industry, the successful start-up of the ethylene unit marks a fundamental leap for Guangxi Petrochemical from a "fuel-oriented" refinery to an integrated enterprise of "chemical products and organic materials". Read Full Story

China natural gas heavy-duty truck sales jump 149% YoY in Sep

Amid the peak season, China's natural gas heavy-duty truck sales in September continued the uptrend, posting a month-on-month increase of 40% and a year-on-year surge of 149%. In September 2025, domestic natural gas heavy-duty truck sales reached 23,400 units, achieving both month-on-month and year-on-year growth. Specifically, sales increased by 40% compared to August, while the year-on-year growth skyrocketed by 149%, a significant expansion of 113 percentage points from the 36% year-on-year growth recorded in August, OilChem's data showed. This marked the second consecutive month of sales growth. As for the whole heavy-duty truck market, domestic sales recorded actual sales of 83,400 units in September, representing a year-on-year increment of 92%. Read Full Story

A new LNG terminal comes onstream in East China

Wenzhou Huagang LNG Terminal, a new LNG storage and transportation terminal in East China's Zhejiang Province, was put into operation on October 25, not only strengthening regional LNG supply but also enhancing national receiving capacity. As Wenzhou's first privately-led LNG storage and transportation project, its Phase I has completed a dedicated 100,000-tonne-class berth and two 160,000-cubic-meter storage tanks. Initially capable of accommodating LNG vessels up to 155,000 cubic meters, the terminal can potentially expand its capacity to 182,000 cubic meters in the future, with an annual turnover of 1.54 million tonnes. Read Full Story