Annual Report on China’s Petroleum, Gas and New Energy Industry (2024)

China International United Petroleum & Chemicals Co., Ltd.Established in February 1993, China International United Petroleum & Chemicals Co., Ltd. (hereinafter referred to as UNIPEC) is a wholly-owned subsidiary of China Petroleum & Chemical Corporation (Sinopec Corp.), and its headquarters is located in Beijing, China. At present, UNIPEC is one of the largest international oil trading companies, and it operates in nearly 100 countries and regions around the world. With an operating scale of 400 million tons, UNIPEC has become the largest trading company in China and is in a leading position in the global energy trade field. Institute of Quantitative and Technological Economics, Chinese Academy of Social Sciences（IQTE）One of the eight economic research institutes in Chinese Academy of Social Sciences, and it is also the only national studying institution focusing on quantitative economics and technological economic theory and methodology as an important part of the think tank of central government. The institute has good studying groups on economic modeling, energy and environment, technological innovation and productivity, digital economy, and has fulfilled a number of research projects from local and central governments, companies and international organizations. IQTE runs the annual event of Global Forum on Energy Security since 2012. Institute of Energy, Peking UniversityAs an independent scientific research entity under Peking University, the Institute of Energy (hereinafter referred to as the Institute of Energy of Peking University)aims at meeting the needs of national energy development strategy. It, based on the overall situation of energy field and the international frontier, makes full use of the advantages of various disciplines in Peking University and focuses on major strategic and technological issues that restrict the development of China’s energy industry. In accordance with the principle of demand orientation, discipline guidance, combination of soft and hard strength, cross-innovation, highlighting key points and forming characteristics, the Institute promotes the progress of energy science and technology, accelerates the clean transformation of energy, and conducts professional and public education, striving to build an international-level energy think tank and energy science and technology research and development promotion platform.

• PART I MARCO TRENDS.- Status and Prospects of China's Energy Transition.- Carbon Emission Reduction in Urban Agglomerations and Modernization of Harmonious Coexistence between Humans and Nature.- Study in Global Carbon Market Trends.- PART II PETROLEUM.- Outlook of the World Oil Market under Geopolitical Turbulence.- Status and Outlook of Global Oil Supply.- Status and Outlook of Global Oil Demand.- Status and Outlook of World Oil Refining Industry.- Patterns of Development and New Trends in Global Crude Oil Trade.- PART III NATURAL GAS.- Review of Natural Gas Market in 2023 and Outlook for 2024.- Current Development of China's Natural Gas Industry.- New Ideas for Integrated development Natural Gas Pipelines.- PART IV NEW ENERGY.- Current Development and Prospect of China's Wind Power Industry.- Current Situation and Prospect of Geothermal Resources Development and Utilization in China.- Support for a New Energy System: Evolution from Natural Gas to Hydrogen.- Overview of Bio-oil and Bio-gas Development in China.- PART V Electricity.- Prospect of China's Electricity Market under the New Round of Refor Current Development and Prospect of China's Green Power Trading Market.