San Francisco, CA (PRWEB) July 07, 2013
Revenue for the Oil Wholesale industry in China is estimated to total $991.6 billion in 2013, says IBISWorld. Over the past five years, industry revenue has been growing at an annualized rate of 15.8%.
The Oil Wholesale industry in China is subject to a medium level of concentration with top four enterprises (Sinopec, China National Petroleum Corporation, China National Offshore Oil Corporation, and Sinochem) accounting for just over half of industry revenue in 2013. Oil serves as a national strategic energy and its business performance is under the strict control of the government. Therefore, access to crude oil sales and refined oil wholesale operations must be approved by the Commerce department, says IBISWorld.
Industry concentration has declined over the past five years, as more enterprises have been allowed to enter the industry, says IBISWorld. Although the approval procedure remains strict, the industry, newcomers like ExxonMobil are joining the industry by setting up joint ventures with domestic companies.
Over the next five years, regulations on this energy-intensive industry will be further reinforced and growth in downstream demand for the industry will slow in line with China's GDP growth, says IBISWorld. However, demand from China's transportation sectors is projected to grow with the expansion of railway and airline networks throughout the nation.
For more information, visit IBISWorld’s Oil Wholesale in China industry report page.
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IBISWorld Industry Report Key Topics
The Oil Wholesale industry in China is mainly engaged in wholesale and international trade of crude oil and its products, including fuel gas. Business concerning pipeline gas and natural gas is excluded from this industry.
Key External Drivers
Industry Life Cycle
Products & Markets
Products & Services
Globalization & Trade
Market Share Concentration
Key Success Factors
Cost Structure Benchmarks
Barriers to Entry
About IBISWorld Inc.
Recognized as the nation’s most trusted independent source of industry and market research, IBISWorld offers a comprehensive database of unique information and analysis on every US industry. With an extensive online portfolio, valued for its depth and scope, the company equips clients with the insight necessary to make better business decisions. Headquartered in Los Angeles, IBISWorld serves a range of business, professional service and government organizations through more than 10 locations worldwide. For more information, visit http://www.ibisworld.com or call 1-800-330-3772.