In the battle against climate change, human beings have to resort to non-fossil energy and low-carbonization to realize green development. China, in response to the call, has accelerated its industrial upgrade in the energy sector, despite economic challenges in the post-pandemic era. Against this backdrop, China’s petroleum industry is set to face more uncertainties which could be transformed into opportunities. How will China unwrap its demand for refining feedstocks with a ceiling to its refining capacity? What plans might the country have on oil product exports in an effort to reduce carbon emission? JLC analysts are here to share with you their insights into the future development of China’s petroleum industry.

In the past few years, China’s biofuel industry has seen its ups and downs–the emerging of a new market, its huge potential in becoming the world’s leading country in biofuel capacity and feedstocks production and the setback amid the EU’s investigation. In the meantime, the global biofuel market saw a new pattern taking shape, which features significant demand for UCO from US and European countries, and plunging interest in China’s finished biofuel products. This, coupled with China’s growing capacity of second-generation biodiesel and sustainable aviation fuel (SAF), will have a strong impact on China’s trade flows of biofuel feedstocks in the future.

At this seminar, JLC analysts will share with you their insights into the future of China’s biofuel market, including the latest policy framework and possible impacts, trading of feedstocks, and application of products.

The oil market could see less volatility as economic headwinds are clearing and geopolitical conflicts have not caused any material loss in supply. Yet, a bearish sentiment persists as China's growth is still falling below expectations while the global shift towards electric vehicles is putting a severe dent on road fuels demand growth. To keep oil prices supported, OPEC+ have remained committed to deep production cuts, but are they enough? And how would structural shifts in demand affect global and regional oil balances?