Expert Profile

Expert photo David Wei
Since October 2007, chief executive officer and executive director of Alibaba.com;   From November 2006 to September 2007, president of Alibaba.com and executive vice president of Alibaba Group;   From 2002 to 2006, president of B&Q China, a subsidiary of King

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Facts & Figures In China

The Top Three Sources Of Crude Oil For China
The top three sources of oil for China are Saudi Arabia, Angola and Iran. Saudi Arabia became China's largest oil source by exporting 41.86 million tons in 2009, making up about 20 percent of the oil imported by China. By the end of 2009, the amount of crude oil that China imported from Saudi Arabia exceeded 1 million barrels per day, while the US, the largest importer of the country's oil before, imported less than 1 million barrels per day for the first time since more than 20 years.
 

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On Petroleum - Exploration - Production - Refining
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PetroChina Starts Operating $4 Billion Dushanzi Plant
Petroleum - Exploration - Production - Refining China 10/01/2009
PetroChina Co., the country’s biggest oil company, started operating a 30 billion-yuan ($4 billion) refining and chemical complex in the northwestern province of Xinjiang to help boost the nation’s energy security, reported Bloomberg.

The Dushanzi complex is comprised of a 10 million-metric-ton-a-year refinery and a 1 million ton-a-year ethylene plant.

The complex will boost PetroChina’s refining capacity at Dushanzi to 16 million tons a year, Liu Xiaolin, an official at the plant said in July. The refinery, which began production Monday, will process high-sulfur crude oil from Kazakhstan, said PetroChina.

The Dushanzi project may generate more than 60 billion yuan in annual revenue, China National said.

China’s biggest oil companies, including China Petroleum & Chemical Corp., are competing to expand processing capacity after the government adjusted a fuel-pricing system to include crude oil costs and a profit for refiners.

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