The penetration rate of new energy vehicles will be further improved, and the comprehensive energy services of oil stations will be accelerated

Beijing News shell financial news (reporter Chen Weicheng) "With the further increase of penetration rate of new energy vehicles, the construction of 'oil, gas, electricity, hydrogen service' integrated comprehensive energy service station will speed up and enter the scale layout stage." On April 25, Sun Renjin, secretary general of Expert Committee of China Petroleum Circulation Association and professor of China University of Petroleum, said at the expert interpretation meeting of "Blue Book on Development of China Petroleum Circulation Industry (2022-2023)" (hereinafter referred to as "Blue Book").

In 2022, China's petroleum circulation industry actively responded to the impact of many factors exceeding expectations, and the industry on the whole achieved stable operation. According to the Blue Book, China's oil and gas exploration and development will continue to improve in 2022, with total crude oil production reaching 205 million tons, up 2.9% year-on-year. China imported 508 million tons of crude oil, down 0.9% year on year, showing a trend of shrinking import scale. Crude oil dependence dropped to 71.2 percent, 0.8 percentage points lower than the same period last year.

At the same time, China's refining capacity continued to grow to 937 million tons, ranking first in the world. In this context, China's refined oil production continued to increase, reaching 366.104 million tons, with an increase in the supply side. On the demand side, gasoline demand fell overall and kerosene demand fell sharply. Only diesel demand increased.

On the one hand, due to the impact of COVID-19 in 2022, the domestic and international airline markets were depressed, leading to a sharp decline in the demand for aviation kerosene. Apparent consumption of kerosene was 19.692 million tons, down 39% year-on-year. On the other hand, the national upgrading of the sixth stage of vehicle pollutant emission standards, the release of the "National III" old vehicles out of advance and other policies, driving the development of the diesel market.

In the first quarter of this year, the crude oil processing volume of main refineries increased significantly, and the average operating load increased significantly compared with the fourth quarter of last year, making the output of refined oil products increased by 10.03% year-on-year to 106,088,200 tons. Exports of refined oil products reached 18.16 million tons, up 59.8 percent in volume and 85 percent in value year-on-year. Among them, diesel exports were 5.98 million tons, up 452.1 percent year on year.

In 2022, the production and sales of new energy vehicles increased by 96.9% and 93.4%, respectively. The penetration rate of new energy vehicles reached 25.64% and is expected to exceed 30% in 2023. Sun Renjin believes that the construction of "oil, gas, electricity, and hydrogen service" integrated comprehensive energy service stations will accelerate and enter the stage of scale layout. The non-oil business of gas stations will be more diversified and the characteristics of large-scale chain operation will be more obvious. The industrial wisdom upgrading and low-carbon transformation will be transformed into new driving force for commercial profits.

In addition, the Blue book showed that the total number of gas stations nationwide declined for the first time, meaning that the gas station industry has further intensified competition for stock. In 2022, the total number of gas stations in China will be about 107,600, a year-on-year decrease of more than 110, or 0.11 percent. The decrease in the number of gas stations and the increase in highway mileage led to a continued decrease in the density of gas stations, about 2/100 km, 0.03/100 km less than the same period last year.

"There are a large number of private oil stations in the retail market of refined oil products, and the traditional business model has not adapted to the current development pattern. To get rid of the situation of homogeneous competition and weak influence, it is necessary to transform to the brand, digitalization and comprehensive energy 'new three chemical' direction." Gao Xiaosong, general manager of Nengliangang Business Division, said that in the future, the competition of gas stations will not depend on price any more, but on the differences of products, brands and services, resulting in a higher premium.

Editor Yue CAI Zhou

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