For the sake of oil price, we refute again and aga

2022-08-08
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Ye Tan: for the sake of oil price, we refute again and again

on May 18, PetroChina Natural Gas Co., Ltd. held the 2010 general meeting of shareholders. Because the refining loss in the first quarter was 6.132 billion, Zhou Jiping, vice chairman and President of PetroChina, believed that it was caused by the inadequate domestic oil price of finished products and the high international raw oil price, and the low natural gas price should also be strengthened in storage

we have heard too many similar complaints, but due to the repeated complaints of petrochemical giants, we can only refute them again and again

if PetroChina and Sinopec only have oil refining business, the public must listen to their complaints. If PetroChina and Sinopec's business covers the whole industrial chain, please say all the profits and losses in two barrels of oil, and then complain

first of all, the oil and petrochemical giants do not only have oil refining business, but also have crude oil exploration and exploitation business in order to maintain a balance of profits and losses. When crude oil prices are high and refining losses occur, the toughness of metals in mining and chemical businesses will decline and make profits with the increase of loading speed, the decrease of temperature and the increase of stress concentration; When crude oil prices fall and mining profits fall, the refining sector is bound to make profits - why only complain about refining losses, not mining and chemical industry profits

the data prove everything. When the oil monopoly giants make oil refining losses, the overall profits of enterprises basically maintain double-digit growth. According to the first quarter report of 2011 of the two major oil majors, despite the oil refining losses, PetroChina still obtained a net profit of 37billion yuan, with a year-on-year increase of 13.9%. Can it be used for machinery manufacturing; Sinopec made a net profit of 20.5 billion yuan, a year-on-year increase of 24.49%, and the profit growth rate was much higher than that of PetroChina. In 90 days, the two major oil companies earned about 638million yuan a day in the first quarter. Last year, the net profits of PetroChina and Sinopec were 139.871 billion yuan and 70.71 billion yuan respectively, and the two major oil companies earned about 576 million yuan a day last year

if PetroChina and Sinopec only have oil refining business, the public must listen to their complaints. If PetroChina and Sinopec's business covers the whole industrial chain, please tell the profit and loss of two barrels of oil before complaining. PetroChina, in particular, controls the vast majority of domestic crude oil. In order to establish a unified oil business empire, it is expanding vigorously in the oil refining field. Is this for the interests of the public and investors, or for PetroChina's monopoly position

how about unlocking the rope and letting private refining enterprises find oil and refine oil by themselves

secondly, if the refining loss is so serious, please give up the refining Market and let private enterprises enter

private refining enterprises are crying out for food, but there is no oil source. According to last year's data, China's private oil enterprises have 60000 gas stations in the retail industry, accounting for about 53% of the national retail share. There are more than 60 private refineries, basically distributed in Shandong, Guangdong and western regions, with a refining capacity of nearly 100 million tons a year. However, due to lack of oil supply, the actual refining capacity is about 50million tons due to insufficient operation. How about unlocking the rope and letting private refining enterprises find oil and refine oil by themselves

not only the resources of private refining enterprises are idle, but also most private oil storage equipment are idle. On July 22, 2010, the State Council issued the notice on encouraging and guiding the healthy development of private investment and the division of key work, Article 8 of which clearly "encourages private capital to participate in oil and gas construction". In the previous two months, at the bid opening meeting of the national oil storage qualification bidding project using social storage capacity, five private oil enterprises were shortlisted, and three won the bid, Zhoushan century, Zhoushan Jinrun and Zhejiang Tianlu. This is the first time that the national oil reserve system has been opened to private enterprises. Unfortunately, the pace is slow, and most private oil storage equipment is still idle. This is a great waste of overall social efficiency

in the face of periodic oil shortages, companies usually only measure tensile strength, yield strength, elongation after fracture and reduction of area. People hope that petrochemical giants will show their market capacity and import reserves at low prices to stabilize the peak. But we have been disappointed repeatedly.

Third, the oil majors are slow to respond to the market and cannot keep up with the pace of market changes. I am afraid it is difficult to safeguard national economic security in international competition

as far as oil prices are concerned, the current global crude oil price decline has closed the window of raising the oil price of finished products. The responsive private refining enterprises cut the price of refined oil for the first time after the sharp fall in international oil prices. Nearly two weeks later, the gas stations in some places of the two oil giants began to offer discounts and promotions. In addition, according to the monitoring of Jinyin island on May 18, Sinopec and PetroChina have basically cancelled the control of diesel wholesale shipments in Shandong, Hunan, Jiangxi and other regions. It can be seen that the oil giant is arrogant and slow

in the face of the cyclical oil shortage, the public hopes that the petrochemical giants will show their market capacity and import reserves at low prices to stabilize the peak. But we have been disappointed again and again. When the petrochemical giants listed at home and abroad, the crude oil price was low, but they were busy expanding and rolling at home to maintain their monopoly position; When the financial crisis broke out, the international crude oil price halved, and we still did not see signs of large-scale imports. On the contrary, when the international crude oil price soared and domestic oil shortages occurred frequently, we saw an increase in exports. Of course, petrochemical giants say it is processing with supplied materials, but sometimes the labor development and Reform Commission orders to temporarily cancel exports, which shows that it is not just processing with supplied materials. Last year and the year before last, private enterprises tried to import again, but they could not enter, because the actual control of import was in the hands of petrochemical giants

the petrochemical giants said they are fighting for the pricing power in the international market. I hope they will succeed and let us witness a miracle. China's crude steel output is the highest in the world, but it has never achieved its wish in terms of the pricing power of iron ore. It seems that the petrochemical giants have other tricks

the decline of global oil prices cannot raise the oil price of finished products, and the mining and chemical industry sector is profitable. PetroChina instead calls for doubling the price of natural gas to be in line with international standards. As an old saying goes, it is not too late to talk about the losses of imported natural gas after the profits and costs of domestic natural gas are made public

it is common sense not to make public and not to raise prices. As a public enterprise, as a state-owned enterprise shouldering major social responsibilities. Otherwise, what's the difference with decadent monopoly enterprises

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