ENWS
State owned enterprises and refining
2017-08-18
Since the use of imported crude oil refining to obtain the qualification, the three state-owned oil companies and refining a tendency to accelerate cooperation. Especially in the recently held "China new refinery power market exchange", Sinopec s Chinese international petrochemical joint limited liability company (hereinafter referred to as "the company") to cooperate with more than 20 local refineries, has attracted the attention of the industry. The participants stressed that "more cooperation than competition".
Prior to this, PetroChina and CNOOC have relatively stable cooperative relations with the establishment of refining. In April 2016, Chinese petroleum and Shandong Dongming petrochemical, Jingbo petrochemical, petrochemical and other 8 local refineries in resource mutual supply agreement. In the same year, CNOOC also announced to expand cooperation with refining and refining, for procurement of imported crude oil as business growth. Acciona think the data show that in 2016, PetroChina, CNOOC to refining provide about 11 million tons of crude oil and 10 million tons of crude oil.
With different competitors finished oil market, the three state-owned oil companies and refining has begun to build increasingly close cooperation. In this regard, China oil Market Research Institute of Petroleum Economic and technical institute deputy director Chen Rui believes that this is the market competition tends to be rational and mature inevitable, especially to the price war fierce domestic refined oil market in recent months, has made the competition both sides to further realize the importance of cooperation. "Price war in the long term, it is a lose lose situation. Therefore, the state-owned enterprises have realized and refining should seek cooperation in competition, create a win-win situation."
Anxunsi analyst Zou Minzhen believes that with the Chinese oil and gas reform, state-owned and private enterprises greater cooperation in space. Since 2015, the NDRC issued the import of crude oil using qualified application conditions since the country has a total of 32 enterprises to use imported crude oil quality, imported a total of more than 1 tons of crude oil using quotas. Let in the crude oil market under the background of refining crude oil import demand showed explosive growth, has become the largest consumption of imported crude oil increment Chinese body. Many domestic and international oil companies and traders are already targeting this new business. The overseas also has the right to import crude oil and refined oil export right of state-owned oil companies, it is also a valuable market opportunity. For refining, resources and sales terminals have the advantages of state-owned enterprises is also attractive.
Lung Chung Petrochemical Network Analyst Ding Xu said that the state-owned enterprises and refining their respective advantages, are highly complementary business, great potential for cooperation. In the oil and China as an example, the two companies are Chinese important sources of crude oil imports of crude oil importer, rich; if can deepen cooperation and refining, to strive for more preferential prices for larger orders in the international market, with the advantage of low cost of refining, can reach a win-win situation. The long run, between state-owned oil companies and refining cooperation will further accelerate cooperation in a wider range, more cooperation, cooperation will continue in-depth.
The state-owned oil companies should expand cooperation on the basis of the original, such as refining and benchmarking, launched bi-directional cooperation, expand cooperation in the field of transportation joint venture in oil sales terminal. Experts believe that as the oil and gas system reform, the state-owned oil company will establish "both competitors and refining, and partners  relationship, leveraging each other, each one takes what he needs relatively fair, and jointly safeguard the refined oil market in the" competing "state.