Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
The death knell for UK energy security
The end of Grangemouth and Lindsey oil refineries marks a worrying trend across Europe amid cost and transition pressures
China’s oil output to scale new heights
New discoveries and stabilisation of legacy fields’ output have helped China reverse the decline and be a top-five producer in recent years
India to help Asia spearhead global refining
Shifting demand patterns leaves most populous nation primed to become downstream leader as China and the West retreat
US, Russia and China circle the Arctic
The strategic importance of vast untapped oil and gas reserves and key shipping routes has come in from the cold
Cheap gas key to unlocking new markets
Weaning poorer regions off coal means gas needs to be abundant and competitive longer term
Do not underplay China’s long-term gas growth narrative
A subdued market amid global trade tensions is just an aberration in gas’ upward trajectory
China’s critical gas position
China will play a huge role in driving gas demand, with its Qatar partnership crucial to this growth amid global structural challenges
Bad omens for Chinese oil demand
Sino-US trade tensions could see crude consumption crumble despite recent buying behaviour
Taiwan’s energy dependencies laid bare
Renewed China tensions threaten island’s inflows of oil and gas from overseas
US-China trade war will have limited impact
Tariffs likely to compound already weakening energy flows between economic powerhouses and lead to trade being rerouted
Refining and petrochemicals are expected to be enrolled this year or next
China Refining ETS
Shi Weijun
Beijing
5 May 2022
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Chinese refiners face carbon trading risk

Beijing’s net-zero commitment means the refining and petrochemicals sector is likely to be included in the country’s ETS scheme sooner rather than later

China’s refining and petrochemicals sector—already squeezed by escalating lockdowns from a growing Covid outbreak—will need to contend with its eventual inclusion in the fledgling national carbon market, with smaller players operating older outdated plants at risk of being edged out of the industry. China—which accounted for one-third of global CO₂ emissions last year—launched its long-awaited emissions trading system (ETS) in July 2021 after repeated delays. Cumulative trading had reached 179mn t by the end of last year, with an aggregate transaction value of RMB8.1bn ($1.27bn). The system covers only the thermal power generation sector, but as this accounts for 40pc of the country’s carbon

Also in this section
Sverdrup keeps on giving
11 July 2025
Equinor and its partners at Norway’s largest oilfield have pulled the trigger on a fresh $1.3b investment that will maintain high output for longer
Australia gas security faces fitness test
11 July 2025
Reassessment of the country’s export-facing gas policy coincides with worsening domestic market backdrop
Waiting for Arctic LNG 2
10 July 2025
Without sanctions relief, there is little reason to believe the latest potential attempt at exports from the Russian liquefaction project will be more successful than the one last summer
Nigeria bullish about oil recovery
9 July 2025
Efforts to restructure and boost investment appear to be working, but doubts remain about the plan to almost double crude production by 2030

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search