National Development and Reform Commission and deputy director of the National Energy Board Secretary, Mr Zhang Guobao said in Beijing on the 18th Olympic Games after coal, electricity, oil price trend will be the state's overall economic development, domestic and international energy situation and market supply and demand and other factors.
On the 18th at the Beijing International Press Center, National Energy Board held the theme of "China's energy situation and international cooperation," the news conference.
"Product prices tend to reflect the relationship between supply and demand, China is moving from government-controlled pricing system gradually transition to a market price system." Face of the Olympic Games in fuel prices will rise after the rumor, said Zhang Guobao, China is now gradually taken with the international standards Approach, June 19 appropriate adjustments to the petrol, diesel and aviation kerosene prices, but still below the international price, which is considering the affordability of the domestic circumstances of the decision.
Zhang Guobao said that once a certain period of time, the attention of all sectors of diesel supply, refueling in the queue has been eased, particularly in gasoline supplies have been more lenient. What will the Olympic Games after the oil price changes, according to the Olympic Games after the overall economic development and domestic and international energy situation may be.
Turning to some Chinese provinces facing the situation, Zhang Guobao said that the current power shortage is not because of lack of electricity installed capacity, but mainly reflected in the tight supply of coal. In recent years China's rapid development of electric power, coal supply relatively not be able to meet the needs of the development of electric power, steel and other industries Haomei the demand for coal is increasing rapidly.
Zhang Guobao said that Beijing, Shanghai and other big cities have not felt the shortage of electricity, central China's power supply due to the transport of coal supply to be affected. China's coal price is now open, that is determined by the market price of coal, the state was established, "Meidianyouyun coordinate leading group", by increasing coal production and supply, and called on energy conservation and management of electricity Demand and a series of measures to improve coal supply to a tight, prices rose the situation.
Zhang Guobao said that the price of electricity can not be fully determined by the market, including the United States, China and the majority of the world's countries, the implementation of government pricing. This is to control inflation, protect people's lives.
2008-08-18
2008-08-16
New York oil price fell below 112 U.S. dollars per barrel
The dollar against the euro, sterling and other major currencies the impact of rising international oil prices continue to fall on the 15th, the New York market after oil prices fell below 112 U.S. dollars per barrel.
The report showed that due to economic weakness in the euro zone economy, the same day the dollar against the euro exchange rate, after once reached Australian 1.4659 U.S. dollars, since February 20 this year, the highest level. At the same time, many investors expected, due to economic recession, the Bank of England may be forced to raise interest rates, making sterling-dollar exchange rate fell for 11 days. Against the Japanese yen exchange rate has set a seven-month a new high.
With the stronger dollar, 15, the New York Mercantile Exchange, the September delivery of light sweet crude oil futures prices closed after the conflict with the minimum to 111.34 U.S. dollars a barrel from the previous trading day sharply down 3.67 U.S. dollars, the lowest since record more than three months Transaction price to the close of trading, down 1.24 U.S. dollars, at 113.77 U.S. dollars a barrel. London's International Petroleum Exchange, October Brent crude-oil futures fell 1.13 dollars to close at 112.55 U.S. dollars a barrel.
New Zealand by September delivery price per gallon gasoline futures fell 5.18 cents to settle at 2.8602 U.S. dollars. September delivery of heating oil futures price per gallon rose 2 cents to settle at 3.1191 U.S. dollars. September futures for delivery of natural gas per 1,000 cubic feet down 4.4 cents to 8.092 U.S. dollars.
Since the July 11 record of 147.27 U.S. dollars a barrel the highest since records of transactions, New York crude oil futures prices have dropped 24 percent total.
The report showed that due to economic weakness in the euro zone economy, the same day the dollar against the euro exchange rate, after once reached Australian 1.4659 U.S. dollars, since February 20 this year, the highest level. At the same time, many investors expected, due to economic recession, the Bank of England may be forced to raise interest rates, making sterling-dollar exchange rate fell for 11 days. Against the Japanese yen exchange rate has set a seven-month a new high.
With the stronger dollar, 15, the New York Mercantile Exchange, the September delivery of light sweet crude oil futures prices closed after the conflict with the minimum to 111.34 U.S. dollars a barrel from the previous trading day sharply down 3.67 U.S. dollars, the lowest since record more than three months Transaction price to the close of trading, down 1.24 U.S. dollars, at 113.77 U.S. dollars a barrel. London's International Petroleum Exchange, October Brent crude-oil futures fell 1.13 dollars to close at 112.55 U.S. dollars a barrel.
New Zealand by September delivery price per gallon gasoline futures fell 5.18 cents to settle at 2.8602 U.S. dollars. September delivery of heating oil futures price per gallon rose 2 cents to settle at 3.1191 U.S. dollars. September futures for delivery of natural gas per 1,000 cubic feet down 4.4 cents to 8.092 U.S. dollars.
Since the July 11 record of 147.27 U.S. dollars a barrel the highest since records of transactions, New York crude oil futures prices have dropped 24 percent total.
2008-07-31
U.S. oil giant production down profits rely on high oil prices
The two major U.S. oil giant Exxon Mobil and Chevron reported to be the lowest since the 2005 production data, enterprises are expected in the high level of profits can only rely on high oil prices realized.
New York Macquarie Bank analyst Jason Gan HUMMEL expected, Exxon Mobil Corporation second quarter of the output will drop by more than 5 percent, marking at least the biggest decline in 10 years. And Chevron on the 10th is expected that the second quarter of its oil and gas output than the same period last year dropped 3.4 percent.
Meanwhile, according to Bloomberg News collection of analysts expect the results, ExxonMobil's net income in the second quarter to grow 26 percent to 12.9 billion U.S. dollars, U.S. companies set a record quarterly profit. Chevron profits will be over the same period increased by 11 percent to 5.95 billion U.S. dollars. Exxon Mobil and Chevron's second quarter earnings in July 31 and August 1 officially announced.
ExxonMobil and Chevron are doing their best to stop the decline in output. The two companies this year's capital expenditure budget close to 48 billion U.S. dollars, of which 75 per cent increase in production and prevent the decline in inventories. Among them, the Qatar ExxonMobil natural gas project, if launched as scheduled this year, production will increase 40 percent, the company's largest production projects. According to Gan HUMMEL disclose the information, Chevron in Nigeria may soon launch a coastal oil field project. The investment reached 5.4 billion U.S. dollars, Chevron is the largest new projects this year.
According to data provided by Bloomberg News, although this year's oil prices were to break through 147 U.S. dollars per barrel, but ExxonMobil and Chevron of the shares respectively in 1982 and since 2002 has been the largest decline, the two companies worth a total reduction of about 90 billion U.S. dollars. In addition, the major U.S. oil company stock prices reflect changes in the S & P oil stock prices this year has been a decrease of 12 percent, the worst since the 2002 performance. (Xinhua)
New York Macquarie Bank analyst Jason Gan HUMMEL expected, Exxon Mobil Corporation second quarter of the output will drop by more than 5 percent, marking at least the biggest decline in 10 years. And Chevron on the 10th is expected that the second quarter of its oil and gas output than the same period last year dropped 3.4 percent.
Meanwhile, according to Bloomberg News collection of analysts expect the results, ExxonMobil's net income in the second quarter to grow 26 percent to 12.9 billion U.S. dollars, U.S. companies set a record quarterly profit. Chevron profits will be over the same period increased by 11 percent to 5.95 billion U.S. dollars. Exxon Mobil and Chevron's second quarter earnings in July 31 and August 1 officially announced.
ExxonMobil and Chevron are doing their best to stop the decline in output. The two companies this year's capital expenditure budget close to 48 billion U.S. dollars, of which 75 per cent increase in production and prevent the decline in inventories. Among them, the Qatar ExxonMobil natural gas project, if launched as scheduled this year, production will increase 40 percent, the company's largest production projects. According to Gan HUMMEL disclose the information, Chevron in Nigeria may soon launch a coastal oil field project. The investment reached 5.4 billion U.S. dollars, Chevron is the largest new projects this year.
According to data provided by Bloomberg News, although this year's oil prices were to break through 147 U.S. dollars per barrel, but ExxonMobil and Chevron of the shares respectively in 1982 and since 2002 has been the largest decline, the two companies worth a total reduction of about 90 billion U.S. dollars. In addition, the major U.S. oil company stock prices reflect changes in the S & P oil stock prices this year has been a decrease of 12 percent, the worst since the 2002 performance. (Xinhua)
2008-07-24
To control the cost of oil will be cut more than 80,000 people
After a reporter from Beijing to Yu Chun
Four staff reduction path: 1. Natural retirement reduction, 2. Control of new staff, 3. Contract expires fire, 4. Merge some posts
According to "China's oil" message, held in Yan'an in recent days in the China National Petroleum Corporation (hereinafter referred to in oil) in 2008 leading cadres meeting, said Jiang Jiemin, president of the corporation, against the current rapid growth in business volume and employment, wages Rapid increase the total cost of the actual, planned for the next three years cut 5 percent of the total staff. According to the official website of oil statistics, in 2007 the total number of employees in the oil for 1.673 million people, as the base, the total number of layoffs will be more than 80,000 people.
In the oil revealed that this year before the June pre-tax profits fell 39 percent, only 56.4 billion yuan. This is mainly the oil refining business losses and in particular the proceeds turned over to a substantial increase drag. Analysis of the market, the layoffs in the oil should be a major cost control initiatives. One of the oil inside an interview with this reporter, "said the staff cuts mainly on the basis of the principle of reducing unproductive expenditures, cut staff, mainly in organs and departments, particularly the number of non-productive sectors. As for the policy implementation date , How the implementation of specific, not yet clear, the Group headquarters has raised the overall goal, but the decomposition of various branches. CNPC subsidiary more than 100 two units, according to this requirement may be implemented. "
These people believe that the 5 percent staff reduction would not affect oil companies in-house staff to the stability. Because, including the reduction of several aspects, one is the retirement of the natural way to reduce the second is the new import control; Third, it is part of contract workers could be fired after the expiration of the fourth through the merger of a number of positions to reduce personnel.
In addition to reducing staff salaries and standardized distribution system to better control personnel costs, the oil will be compressed in the day-to-day non-productive expenditure. Have asked the companies not allowed to purchase new, lease or purchase of luxury cars in disguise, no new Loutangguansuo to reduce various kinds of large-scale celebrations and ceremonies, conferences, competitions and group tours abroad, effective Yajian Hospitality , Travel and maintenance in office, the provisions of these costs on the basis of last year to reduce the more than 10 percent. One analyst who declined to be named, the operating profit decline in oil has affected the normal cash flow, and the compression of the cash expenditure must be the cost, can ease tensions in the oil cash flow pressure.
PetroChina expects 2008 capital expenditure to 207.9 billion yuan, of which exploration and development capital expenditure of 132.3 billion yuan. Will be more funds for investment in oil and gas business, in the existing oil has 49 investment projects in the planning and make stops, Huanjian or transferred, by dealing with investment, investment funds reduced 20.72 billion yuan. At the same time, in oil also plans to issue 60 billion yuan of corporate bonds in order to meet production needs, reduce financing costs, additional liquidity.
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Four staff reduction path: 1. Natural retirement reduction, 2. Control of new staff, 3. Contract expires fire, 4. Merge some posts
According to "China's oil" message, held in Yan'an in recent days in the China National Petroleum Corporation (hereinafter referred to in oil) in 2008 leading cadres meeting, said Jiang Jiemin, president of the corporation, against the current rapid growth in business volume and employment, wages Rapid increase the total cost of the actual, planned for the next three years cut 5 percent of the total staff. According to the official website of oil statistics, in 2007 the total number of employees in the oil for 1.673 million people, as the base, the total number of layoffs will be more than 80,000 people.
In the oil revealed that this year before the June pre-tax profits fell 39 percent, only 56.4 billion yuan. This is mainly the oil refining business losses and in particular the proceeds turned over to a substantial increase drag. Analysis of the market, the layoffs in the oil should be a major cost control initiatives. One of the oil inside an interview with this reporter, "said the staff cuts mainly on the basis of the principle of reducing unproductive expenditures, cut staff, mainly in organs and departments, particularly the number of non-productive sectors. As for the policy implementation date , How the implementation of specific, not yet clear, the Group headquarters has raised the overall goal, but the decomposition of various branches. CNPC subsidiary more than 100 two units, according to this requirement may be implemented. "
These people believe that the 5 percent staff reduction would not affect oil companies in-house staff to the stability. Because, including the reduction of several aspects, one is the retirement of the natural way to reduce the second is the new import control; Third, it is part of contract workers could be fired after the expiration of the fourth through the merger of a number of positions to reduce personnel.
In addition to reducing staff salaries and standardized distribution system to better control personnel costs, the oil will be compressed in the day-to-day non-productive expenditure. Have asked the companies not allowed to purchase new, lease or purchase of luxury cars in disguise, no new Loutangguansuo to reduce various kinds of large-scale celebrations and ceremonies, conferences, competitions and group tours abroad, effective Yajian Hospitality , Travel and maintenance in office, the provisions of these costs on the basis of last year to reduce the more than 10 percent. One analyst who declined to be named, the operating profit decline in oil has affected the normal cash flow, and the compression of the cash expenditure must be the cost, can ease tensions in the oil cash flow pressure.
PetroChina expects 2008 capital expenditure to 207.9 billion yuan, of which exploration and development capital expenditure of 132.3 billion yuan. Will be more funds for investment in oil and gas business, in the existing oil has 49 investment projects in the planning and make stops, Huanjian or transferred, by dealing with investment, investment funds reduced 20.72 billion yuan. At the same time, in oil also plans to issue 60 billion yuan of corporate bonds in order to meet production needs, reduce financing costs, additional liquidity.
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2008-07-23
International oil prices fell below 125 U.S. dollars per barrel
-- New York, July 23 (Xinhua Yang Lei) As the U.S. Energy Department report showed that U.S. gasoline and oil products business inventories increased fuel demand weak domestic market, New York, oil prices fell sharply on the 23rd to continue, for the first time in nearly seven weeks At 125 U.S. dollars per barrel below.
On the New York Mercantile Exchange, the September delivery of light sweet crude was inconsistent with the day to 124.30 U.S. dollars a barrel, set on June 5 at its lowest intraday trading prices, ended down 3.98 U.S. dollars, reportedly 124.44 U.S. dollars. London's International Petroleum Exchange, September Brent crude-oil futures prices have dropped 4.26 U.S. dollars to close at 125.29 U.S. dollars a barrel.
According to the U.S. Energy Department report released on the 23rd, ending on the 18th the week, U.S. gasoline inventories increased by 2.85 million barrels, far exceeding the previous market expectations of about 500,000 barrels of the increase in the same time, which include heating oil, diesel, in terms of In the oil business inventories also increased by 2.42 million barrels. The Energy Department report also showed that the U.S. domestic market for fuel on the average demand for 19.9 million barrels, in January 2007 is the lowest level since. Analysts believe that these data show that the U.S. economic slowdown, high oil prices curbed market demand.
Hurricane "Dolly" in the U.S. on the 23rd Texas, and gradually weakened, the Gulf of Mexico to avoid the main oil production platforms and refineries, investors in the region to lift the crude oil production may be affected worry.
In addition, the same day the dollar against the euro exchange rate also promote stronger oil prices continue to decline.
23, New South Wales by August delivery price per gallon gasoline futures fell 11.26 cents to settle at 3.0344 U.S. dollars. August delivery of heating oil futures prices fell 12.8 cents per gallon to settle at 3.5501 U.S. dollars. August delivery of natural gas per 1,000 cubic feet futures prices fell 27.9 cents to 9.788 U.S. dollars.
On the New York Mercantile Exchange, the September delivery of light sweet crude was inconsistent with the day to 124.30 U.S. dollars a barrel, set on June 5 at its lowest intraday trading prices, ended down 3.98 U.S. dollars, reportedly 124.44 U.S. dollars. London's International Petroleum Exchange, September Brent crude-oil futures prices have dropped 4.26 U.S. dollars to close at 125.29 U.S. dollars a barrel.
According to the U.S. Energy Department report released on the 23rd, ending on the 18th the week, U.S. gasoline inventories increased by 2.85 million barrels, far exceeding the previous market expectations of about 500,000 barrels of the increase in the same time, which include heating oil, diesel, in terms of In the oil business inventories also increased by 2.42 million barrels. The Energy Department report also showed that the U.S. domestic market for fuel on the average demand for 19.9 million barrels, in January 2007 is the lowest level since. Analysts believe that these data show that the U.S. economic slowdown, high oil prices curbed market demand.
Hurricane "Dolly" in the U.S. on the 23rd Texas, and gradually weakened, the Gulf of Mexico to avoid the main oil production platforms and refineries, investors in the region to lift the crude oil production may be affected worry.
In addition, the same day the dollar against the euro exchange rate also promote stronger oil prices continue to decline.
23, New South Wales by August delivery price per gallon gasoline futures fell 11.26 cents to settle at 3.0344 U.S. dollars. August delivery of heating oil futures prices fell 12.8 cents per gallon to settle at 3.5501 U.S. dollars. August delivery of natural gas per 1,000 cubic feet futures prices fell 27.9 cents to 9.788 U.S. dollars.
China's NPC Financial and Economic Committee called for liberalization of refined oil prices
◆ by every reporter from Beijing Wu Xiaojing
Yesterday, the NPC Financial and Economic Committee Room economic wrote an article, the second half of China's economic trend. The report pointed out that the second half of the inflationary pressure is still larger, but rely on price controls to solve the problem of inflation it is very difficult work. The report recommends, by accelerating price reform, curb irrational demand, to achieve the objective of controlling inflation.
Anti-inflation price controls difficult to work
Yesterday, the NPC Financial and Economic Committee released economic room entitled "2008 the first five months of economic analysis," the article analyzing the second half of China's economic trend, pointing out that in the global higher prices at the same time, China's medium and long-term upward pressure on CPI to increase By. The report pointed out that in China's economy into the downlink channel, or significantly higher prices, the national economy from "high growth and low inflation" is in a "high growth, high inflation," and even "low growth and high inflation" development.
NPC Financial and Economic Committee report said that it will continue to push the price reform, rationalize the price system. "This short-term could further push up inflation, curb irrational demand and stimulate the supply of the role is quite obvious that in fact help to control inflation."
"Rely on price controls to solve the problem of inflation it is very difficult work." Report pointed out that from an international viewpoint, the United States around 1973 have tried to rely on price and wage controls to contain inflation, but just the opposite; Venezuela as a major oil-producing country, although the refined oil prices Control at a very low level, but the country's inflation rate has exceeded 20%.
BOC International Holdings Limited directors, chief economist Cao Yuan Zheng explained that, in the face of energy raw materials of such a global rise, to deal with this output of inflation, completely on the resistance and rely on subsidies can not solve the problem.
State Council Development Research Center of Financial Research Institute researcher Qing Wu also believes that price control can not fundamentally solve the problem of inflation, will only intensify in the queue and distort the allocation of resources. He said that although the price control through administrative means to stabilize prices in nominal terms, but in the queue or disguised price increases will certainly prevalent. Price controls will inevitably distort the allocation of resources, which in turn will affect the effectiveness of the Government to control inflation. For example, the prices of restricted industries, the aspirations of a certain decline in supply, "as Sinopec, the two companies in the oil supply to protect the community, additional pay very high short term, long-term perspective, the state can not afford subsidies, the final results of , Or to price hikes. "
In addition, price controls for oil products subsidies, actually encourage the consumption, an increase of future inflation expectations.
正当其时price reform
"Price reform is necessary, the early start!" Yesterday, the State Council Development Research Center of Financial Research Institute researcher Qing Wu said that the government in adjusting prices worries too much, worried about too much impact. He believes that the current domestic oil prices after the increase is still low, even lower than the level of some oil-exporting countries, domestic demand for oil remains high, and increased international oil prices further up the pressure.
Qing Wu said that the current domestic oil products market and international market linkages, on a domestic price increase, he saw immediately the international prices of crude oil futures lower, indicating prices have adjusted to curb demand for the role. International is expected to cut down the results.
According to the company in the calculation, if the price of domestic refined oil increased by 50%, refining margins can be reached international standards, domestic supply will increase and will also inhibit some unreasonable demand, slow rising oil prices pressure. Moreover, if the 2008 mid-term domestic oil prices increased 50 percent, while China's 2009 inflation rate will fall to 7.3 percent if not increase, the 2009 inflation rate will reach 8.7 percent.
"Now is the time for reform." Director of the Central Party School of Economics Wang Tokyo that blindly through government regulation and control prices is not permanent solution, he believed that oil prices should be, Suihangjiushi, firm and market convergence, "Although the short term will Lagao production costs, but it will lead to inflation« I That long-term perspective, help control inflation. "
Qing Wu also believes that the current oil subsidies by the Government, post, neither economic nor sustainable, the micro-economic Acer is not a good thing. He stressed that the price reform to start sooner or later, as Chenzao, "delaying the time is too long, the price is very high."
Link: report proposed to increase the tax threshold
Yesterday, the NPC Financial and Economic Committee report noted that further increases in personal income tax threshold, reducing the savings deposit interest tax rate, increase people's real incomes. On the 22nd of this month, the State Administration of Taxation issued the first half of tax data, including personal income tax completed 213.5 billion yuan, an increase of 27.3 percent. March this year, the tax threshold raised to 1,600 yuan a month from 2,000 yuan, but the first half of income Bujianfanzeng, "increased tax threshold," the voice of recurrence.
"I advocate that the threshold would be raised to 3,000 yuan / month." Director of the Central Party School of Economics Wang Tokyo that during the two sessions this year will be raised by the representative of a tax threshold referred to 5000, but he mentioned that 3,000 yuan more Reality.
Director of the Central Party School of Economics, Tokyo Wang pointed out that the implementation of tax reduction at this time is undoubtedly the best way to promote domestic demand. He said that China's current economic growth to maintain long-term stability, the key precondition for a sustained expansion of domestic demand, the current investment has been overheating, the focus can only be extended to stimulate consumption, while revenue from the consumption, therefore, increase revenue in the final analysis, especially in Income of low-income. "The most simple solution is Wangkaiyimian and improve tax threshold."
NPC Financial and Economic Committee report also suggested that to ease the rising cost of corporate pressure, can reduce the toll road access standards such as taxes and fees, through technological innovation of enterprises to reduce costs and increase the tax relief deduction.
Yesterday, the 11th NPC, Zhejiang Furun (600,070 Quotes, Love Unit, the Information) Group Chairman of the Board Zhao Lin held that the tax cut would greatly reduce the burden on enterprises, thereby tightening in monetary policy, under the framework of the prevention of inflation To prevent the economy as a result of tight liquidity and lead to recession; corporate tax cut will stimulate the area of Industrial returning funds to the "natural" to eliminate the asset price bubble, but also will not lead to a hard landing.
Wang Tokyo also proposed that the Government is necessary to the business tax cuts. He said that now a general increase wage costs, the appreciation of the renminbi, the decline in the competitiveness of enterprises, the tax cut as soon as possible, to prevent wage diverted profits. "VAT should speed up restructuring efforts." Wang said in Tokyo, the NPC Financial and Economic Committee report "through technological innovation of enterprises to reduce costs and increase the tax relief deduction." In his view, not only to give preferential tax policies high-tech enterprises, To face to all enterprises, especially labor-intensive enterprises, which related to employment issues, can prevent the economic downturn.
Yesterday, the NPC Financial and Economic Committee Room economic wrote an article, the second half of China's economic trend. The report pointed out that the second half of the inflationary pressure is still larger, but rely on price controls to solve the problem of inflation it is very difficult work. The report recommends, by accelerating price reform, curb irrational demand, to achieve the objective of controlling inflation.
Anti-inflation price controls difficult to work
Yesterday, the NPC Financial and Economic Committee released economic room entitled "2008 the first five months of economic analysis," the article analyzing the second half of China's economic trend, pointing out that in the global higher prices at the same time, China's medium and long-term upward pressure on CPI to increase By. The report pointed out that in China's economy into the downlink channel, or significantly higher prices, the national economy from "high growth and low inflation" is in a "high growth, high inflation," and even "low growth and high inflation" development.
NPC Financial and Economic Committee report said that it will continue to push the price reform, rationalize the price system. "This short-term could further push up inflation, curb irrational demand and stimulate the supply of the role is quite obvious that in fact help to control inflation."
"Rely on price controls to solve the problem of inflation it is very difficult work." Report pointed out that from an international viewpoint, the United States around 1973 have tried to rely on price and wage controls to contain inflation, but just the opposite; Venezuela as a major oil-producing country, although the refined oil prices Control at a very low level, but the country's inflation rate has exceeded 20%.
BOC International Holdings Limited directors, chief economist Cao Yuan Zheng explained that, in the face of energy raw materials of such a global rise, to deal with this output of inflation, completely on the resistance and rely on subsidies can not solve the problem.
State Council Development Research Center of Financial Research Institute researcher Qing Wu also believes that price control can not fundamentally solve the problem of inflation, will only intensify in the queue and distort the allocation of resources. He said that although the price control through administrative means to stabilize prices in nominal terms, but in the queue or disguised price increases will certainly prevalent. Price controls will inevitably distort the allocation of resources, which in turn will affect the effectiveness of the Government to control inflation. For example, the prices of restricted industries, the aspirations of a certain decline in supply, "as Sinopec, the two companies in the oil supply to protect the community, additional pay very high short term, long-term perspective, the state can not afford subsidies, the final results of , Or to price hikes. "
In addition, price controls for oil products subsidies, actually encourage the consumption, an increase of future inflation expectations.
正当其时price reform
"Price reform is necessary, the early start!" Yesterday, the State Council Development Research Center of Financial Research Institute researcher Qing Wu said that the government in adjusting prices worries too much, worried about too much impact. He believes that the current domestic oil prices after the increase is still low, even lower than the level of some oil-exporting countries, domestic demand for oil remains high, and increased international oil prices further up the pressure.
Qing Wu said that the current domestic oil products market and international market linkages, on a domestic price increase, he saw immediately the international prices of crude oil futures lower, indicating prices have adjusted to curb demand for the role. International is expected to cut down the results.
According to the company in the calculation, if the price of domestic refined oil increased by 50%, refining margins can be reached international standards, domestic supply will increase and will also inhibit some unreasonable demand, slow rising oil prices pressure. Moreover, if the 2008 mid-term domestic oil prices increased 50 percent, while China's 2009 inflation rate will fall to 7.3 percent if not increase, the 2009 inflation rate will reach 8.7 percent.
"Now is the time for reform." Director of the Central Party School of Economics Wang Tokyo that blindly through government regulation and control prices is not permanent solution, he believed that oil prices should be, Suihangjiushi, firm and market convergence, "Although the short term will Lagao production costs, but it will lead to inflation« I That long-term perspective, help control inflation. "
Qing Wu also believes that the current oil subsidies by the Government, post, neither economic nor sustainable, the micro-economic Acer is not a good thing. He stressed that the price reform to start sooner or later, as Chenzao, "delaying the time is too long, the price is very high."
Link: report proposed to increase the tax threshold
Yesterday, the NPC Financial and Economic Committee report noted that further increases in personal income tax threshold, reducing the savings deposit interest tax rate, increase people's real incomes. On the 22nd of this month, the State Administration of Taxation issued the first half of tax data, including personal income tax completed 213.5 billion yuan, an increase of 27.3 percent. March this year, the tax threshold raised to 1,600 yuan a month from 2,000 yuan, but the first half of income Bujianfanzeng, "increased tax threshold," the voice of recurrence.
"I advocate that the threshold would be raised to 3,000 yuan / month." Director of the Central Party School of Economics Wang Tokyo that during the two sessions this year will be raised by the representative of a tax threshold referred to 5000, but he mentioned that 3,000 yuan more Reality.
Director of the Central Party School of Economics, Tokyo Wang pointed out that the implementation of tax reduction at this time is undoubtedly the best way to promote domestic demand. He said that China's current economic growth to maintain long-term stability, the key precondition for a sustained expansion of domestic demand, the current investment has been overheating, the focus can only be extended to stimulate consumption, while revenue from the consumption, therefore, increase revenue in the final analysis, especially in Income of low-income. "The most simple solution is Wangkaiyimian and improve tax threshold."
NPC Financial and Economic Committee report also suggested that to ease the rising cost of corporate pressure, can reduce the toll road access standards such as taxes and fees, through technological innovation of enterprises to reduce costs and increase the tax relief deduction.
Yesterday, the 11th NPC, Zhejiang Furun (600,070 Quotes, Love Unit, the Information) Group Chairman of the Board Zhao Lin held that the tax cut would greatly reduce the burden on enterprises, thereby tightening in monetary policy, under the framework of the prevention of inflation To prevent the economy as a result of tight liquidity and lead to recession; corporate tax cut will stimulate the area of Industrial returning funds to the "natural" to eliminate the asset price bubble, but also will not lead to a hard landing.
Wang Tokyo also proposed that the Government is necessary to the business tax cuts. He said that now a general increase wage costs, the appreciation of the renminbi, the decline in the competitiveness of enterprises, the tax cut as soon as possible, to prevent wage diverted profits. "VAT should speed up restructuring efforts." Wang said in Tokyo, the NPC Financial and Economic Committee report "through technological innovation of enterprises to reduce costs and increase the tax relief deduction." In his view, not only to give preferential tax policies high-tech enterprises, To face to all enterprises, especially labor-intensive enterprises, which related to employment issues, can prevent the economic downturn.
2008-07-21
Fu was Mao You! China's rich list of enterprises
Graphic: TOP1
China Petrochemical: in 2007 the world's top 500 ranking 17
The main industry: oil refining
2007 turnover at: 131.636 billion U.S. dollars
Profile:
China Petroleum and Chemical Corporation (hereinafter referred to as "Sinopec") is a middle and lower reaches of the integration, oil, petrochemical main highlight, with a more complete sales network, inside and outside the listed joint-stock enterprises. Is China's largest integrated energy and chemical company, mainly engaged in oil and gas exploration and development, exploitation, pipeline transport and sale of oil refining, petrochemical, chemical fibers, chemical fertilizers and other chemical production and product sales, storage and transport, petroleum, Natural gas, petroleum products, petrochemical and other chemical products and other goods, technology import and export, import and export business agent; technology, information research, development and application.
Sinopec is China's largest petroleum products (including gasoline, diesel, aviation kerosene, etc.) and major petrochemical products (including synthetic resin, synthetic fiber monomers and polymers, synthetic fibers, synthetic rubber, fertilizers, and intermediate petrochemical products) producers and Suppliers, is also China's second largest crude oil producer.
Graphic: TOP2
China's petroleum and natural gas: in 2007 the world's top 500 ranking 24
The main industry: oil refining
2007 turnover at: 110.52 billion U.S. dollars
Profile:
China National Petroleum Corporation (China Petroleum Group) is a set of oil and gas and oil equipment manufacturing an integrated energy company. Xue Lan »0-largest oil company was ranked No. 7.
China Petroleum Group for the community to provide a day more than 2.19 million barrels of crude oil and 2.8 billion cubic feet of natural gas, processing 1.8 million barrels of crude oil. In 2006, China Petroleum Group to expand oil and gas investment operations in 26 countries worldwide.
Graphic: TOP3
National Grid: in 2007 the world's top 500 ranking 29
The main industry: power
2007 turnover at: 107.185 billion U.S. dollars
Profile:
State Grid Corporation was established in December 29, 2002, to build power grid operator for the core business, to bear the economic and social development and provide strong protection of the basic mission of electricity. Regional operating companies covering 26 provinces, autonomous regions and municipalities, covering a land area of more than 88%, direct services, 145 million, power supply more than 1 billion population, management staff 1.504 million people, nearly 290,000 retired people.
In 2006 the company sold 1.71 trillion kwh of electricity, the main business income of 852.9 billion yuan, with total assets of 1.2141 trillion yuan, assets and liabilities of 60.43 percent. 2005 income from principal operations ranked "Fortune" magazine in 2006 the global top 500 enterprises section 32.
Graphic: TOP4
China Southern Power Grid: in 2007 the world's top 500 ranking 237
The main industry: power
2007 turnover at: 27.966 billion U.S. dollars
Profile:
China Southern Power Grid Co., Ltd. in the December 29, 2002 was set up and start formal operation. The operating range of Guangdong, Guangxi, Yunnan, Guizhou and Hainan, in charge of investment, construction and management Southern Power Grid. Xia Zhu's Southern Power Grid Company covering five provinces and autonomous regions, covering 1 million square kilometers, the total population of 230 million power supply; 2005 GDP total 3.2748 trillion yuan, the maximum electricity consumption load society as a whole 69.6 million kilowatts, the whole society consumption 434700000000 Kilowatt-hour.
At present the company's assets total 277.9 billion yuan, the total number of employees 166,000 people. 2005, the company among the global top 500 enterprises, listed 316; ranking in 2006 increased by 50, 266 out.
Graphic: TOP5
COFCO: in 2007 the world's top 500 ranking 405
The main industry: trade
2007 turnover at: 17.953 billion U.S. dollars
Profile:
COFCO Limited is China's largest Cereals, Oils and Foodstuffs Import and Export Company and the strength of food production, food grain and oil market of international standing in public life and are closely related to agricultural trade, the development of biomass energy, food production and processing, real estate, property, Hotel management, and financial services, and other fields made outstanding achievements.
Since 1994, COFCO has been ranked the "Fortune" Global 500 enterprises. COFCO has more than 50 years of experience in international trade, China's food grain and oil markets with the international market among the most important bridges, wheat, corn, rice, sugar and other staple agricultural imports and exports as the main channel.
Graphic: TOP6
China Minmetals Group: 2007 the world's top 500 ranking 435
The main industry: trade
2007 turnover at: 16.902 billion U.S. dollars
Profile:
China Minmetals Corporation, established in 1950, on the condition ⒖ Peng sudden Pan-chi to the satisfaction of passers-by Cynoglossus Biyi quail glaze »real estate, freight, tender, project contracting and investment operations, Implementation of transnational operations of large enterprise groups. China Minmetals Corporation has globalized marketing network in the country 20 provinces, autonomous regions, has a 168 wholly-owned or joint ventures, holding shares and 14 domestic listed companies, holding Hong Kong "Minmetals resources" and "building Minmetals" Two red chips listed company, the world's major countries and regions with 44 overseas companies.
1992, the State Council, China Minmetals Corporation was identified as the first batch of 55 pilot enterprise groups and seven state-owned asset management units authorized one. In 1999, China Minmetals Corporation are included in the central management of the 44 key state enterprises. 2006, the company operating the total amount of 18.9 billion U.S. dollars in China's largest 500 companies listed in ranked No. 13. In the United States "Fortune" magazine published in 2007 the world's top 500 enterprises, China Minmetals No. 435.
Graphic: TOP7
China National Offshore Oil Corporation: 2007 the world's top 500 ranking 469
The main industry: oil refining
2007 turnover at: 16.038 billion U.S. dollars
Profile:
China National Offshore Oil Corporation is China's largest oil company one of the country, responsible for foreign cooperation in offshore China oil and gas exploitation of marine resources, is China's largest offshore oil and gas producers. Founded in 1982, the registered capital of 94.9 billion yuan, is headquartered in Beijing, the existing employees 44,000 people.
2006 full year, the company achieved sales of 132.4 billion yuan, total profit, 49 billion yuan and turned over to the oil taxes and fees and retained a total of 32.1 billion yuan and total assets reached 250.7 billion yuan, 137.1 billion yuan of net assets. In 2006 ranking of the central enterprises, the China Sea oil profits total ranked four, with total assets ranked 11, the cost of margins ranked two. Corporation and affiliated companies was again granted the Standard & Poor's and Moody's A-and A2-level credit ratings, continue to maintain domestic enterprises, the highest rating.
Graphic: TOP8
China Ocean Shipping Corporation: 2007 the world's top 500 ranking 488
The main industry: Shipping
2007 turnover at: 15.413 billion U.S. dollars
Profile:
China Ocean Shipping (Group) Corporation, the predecessor, was established in April 27, 1961 of the China Ocean Shipping Company. February 16, 1993 to set up the China Ocean Shipping (Group) Corporation as its core business of the China Ocean Shipping Group. After several generations of COSCO people over 40 years of arduous pioneering, rely on the wisdom, diligence and good faith, with glory and dream, the COSCO Group has been established at the beginning of the four ships, 22,600 dwt single-shipping company, has developed into today And operates more than 600 modern merchant shipping fleet »more than 500 million dwt, in cargo volume over 300 million tons of integrated multinational groups.
As a shipping and logistics industry as the core of the main global Enterprise Group, COSCO in the world have Jinqian Jia member units, eight more than 10,000 employees. In mainland China, COSCO Group located in Guangzhou, Shanghai, Tianjin, Qingdao, Dalian, Xiamen, Hong Kong and other places, a wholly-owned shipping company management of containers, bulk, special transportation and oil tankers and other types of ocean shipping fleet; overseas, Japan, Korea, Singapore, North America, Europe, Australia, South Africa and West Asia region for radiation-8 percent, to shipping routes as a link, forming the world's major regions across the transnational network. Those with "COSCO" eye-catching signs of ships and containers in the world more than 160 countries and regions over 1300 ports from the shuttle.
Source: in the on-line
2008-07-20
Revelation of the oil in the divestment of coal transport network is the fuse for conflict
Huaxia Times
Divestment of oil in the coal behind: not for its own pipeline used deviated from the original intention for coalbed methane explosion is an independent mining licence
In the increasingly popular field of coal bed methane, China Petroleum (601,857) and Natural Gas Corporation (the oil) with China Coal Group of Companies (hereinafter referred to in the coal) from once a close partner, to be transformed into a strong competitor.
12 years ago, relying on the former oil and gas resources in the field of technology and the development of the latter in the field of mine Shuren, the two national enterprises in accordance with the investment ratio of 50:50, set up in the common coal bed methane limited liability company (hereinafter referred to in the Coal), in the oil and thereafter will be held assets into listed companies.
"Now two shareholders on the reorganization began, in the hope that the oil out of the coal." July 15, general manager of China United Coal Sun Mao Yuan told reporters: "Shareholders should be asked, after the reorganization, I get an interview."
Multi-understand our reporter was informed that the request to withdraw from the oil Yiranjueran in the coal, coal bed methane fields in addition to hope单打独斗, in its coal and coalbed methane in the transport network is also in dispute, the transport network conflict Can be counted as the two sides separated the fuse.
China United Coal will be achieved in the wholly-owned coal
"Once the oil do so out of the coal, coal will be in the sole control of the coal, the results will be announced in a month or two." Sun Mao Yuan to accept the Hong Kong media recently said in an interview.
International cooperation in the coal FU Xiao Hong, deputy director of the Hong Kong media also disclosed that the Hong Kong-listed PetroChina will be held in the coal sale of shares in the coal, coal in a coal in the remaining 50 per cent of the shares.
In the coal insiders confirmed to reporters: "China attaches great importance to coal bed methane in coal mining, even in the absence of oil, coal bed methane in coal fields in the development will still continue. Not only that, in the coal will also increase input power. "
In the coal is China's second largest coal group, and in different oil, coal bed methane in the field of energy into all joint venture companies in the coal on. In the coal insiders said that the exploitation of coalbed methane resources in coal, on the one hand from mine production safety guarantee starting, but also development and utilization of new energy needs.
But in the coal into coal bed methane field was not all smooth sailing, as in previous years, the local coal mine safety work seriously enough, and gas production and mining rights to the conflict in the coal mining areas in the coalbed methane has been difficult.
"From the beginning of 2006, particularly 2007, coal mine accidents occurred one after another, the national coal mine safety accidents in unprecedented attention to it." Coal network analyst Zhaoyu Wei told this reporter: "CBM exploration relatively recent fire. "
Under the current proven the results of coalbed methane resources in China total 31 trillion cubic meters, of which 16 trillion cubic meters have good development prospects, mainly concentrated in Shanxi, Inner Mongolia and Xinjiang and other places, including Shanxi, a province of coalbed methane reserves On the country's reserves of the United States.
According to the plan, by 2020 China's natural gas demand will reach 200 billion cubic meters, nearly 50 percent of the demand will depend on imports, and coal bed methane will become an important supplement to natural gas.
Self-built pipeline intensification of the conflict »
In front of a huge market, the party is rich in coal mining experience, one of the leading oil and gas mining experience, it was almost two is golden partner, 12 contained Jieyuan Why choose breaking up »
"At that time, oil in the hope that the joint venture company owned by the 'West-East Gas Pipeline' and 'Shaanxi-Beijing second-line', transport coal bed methane." Close to the one in the coal told reporters, "but found in the coal, if the walk These two existing gas pipeline, cost-. "
Last year, Sun Mao Yuan in an exclusive interview with this reporter when he said that although the "West-East Gas Pipeline", "Shaanxi-Beijing second-line" via Shanxi Province, in theory, the two coal bed methane can be piped, but because the profit margins compared CBM Low to the "West-East Gas Pipeline" piped cost-per litre CBM take 0.3 to 0.5 yuan costs.
To this end, in the planning of coal self-built pipeline network. According to Sun Mao Yuan, to 2010, China United Coal will build four coal bed methane pipeline, are: client's - Jincheng - Pok Oi (2007),'s end - Changzhi - Lin states - Anyang - Handan (2008), South Korea - Xi'an (2009), Baode - Shaanxi-Beijing (2009), a total length of 675 km and the total design capacity of 2.2 billion cubic meters gas.
"Although can borrow some of coalbed methane natural gas pipeline, but by then, most of these new coal bed methane, mainly through the supply pipe network users." Sun Mao Yuan said.
In the coal and oil is clearly contrary to original intention of cooperation.
"In addition to rich oil and gas excavation mining experience, in the oil pipeline is the biggest competitive advantages." Zhao Yuwei that the divestment of oil go it alone, due to the hands of a few channels - West-East Gas Pipeline, is about 4,200 kilometers, investment Size of over 1,400 billion yuan, is the longest distance in China, the largest diameter gas pipeline, the Tarim Basin in the west round of the South, the North Tower is the starting point for oil, pass through Shaanxi, east to Shanghai. A total investment of 12.9 billion yuan of the Shaanxi-Beijing second-line, the west and Shaanxi Yulin, as Shanxi, Hebei, Beijing to end.
Is an independent oil in the licence application
In addition, in the coal and coalbed methane operations in general in all our energy into the various coal, oil in addition to participation in the coal, is also actively expanding its coal bed methane operations.
In March 28th at the 2007 annual performance in the oil-line investors at the exchange, oil planning in the Ministry of Planning, Deputy Chief Economist Xu Jianmei said that the coalbed methane company is "11th Five-Year Plan" identified the key development of new energy business . By the end of 2007, the company found in the Qinshui Basin of the larger reserves of coal bed methane, a certain production capacity, and launched a 3 billion deal with the side / coal bed methane in a central treatment plant construction, also in oil In preparation for the Junggar Basin, Erdos (600,295) Basin coal bed methane exploration and have achieved initial results and understanding. "11th Five-Year Plan" period, to continue to increase in oil investment in coal bed methane.
July 16, in an internal oil to the press confirmed that the oil in the area of coal bed methane has attached great importance over the past few years in Qinshui Basin, Shanxi Province has invested large amounts of funds, "the current progress is good, now have a few 100 of the wells. "
However, the divestment of the coal, these people said only: "We have just heard in the coal preparation for the shareholders of a reorganization, as a matter of the oil out, could not be confirmed by high-level."
Deserves attention is that the September 24, 2007, the State Council announced on the exploitation of land for oil resources to amend the Ordinance, Article 30 was amended to "external cooperation by the exploitation of coalbed methane resources of coal bed methane limited liability company, designated by the State Council Other companies franchise. "
According to the coal in an internal source, in cooperation with foreign countries, the oil is applied to the Government for independent development of coal bed methane licence.
It seems that in Zhaoyu Wei: "The State Council is appointed by other companies in the oil, otherwise he would not withdraw from."
Divestment of oil in the coal behind: not for its own pipeline used deviated from the original intention for coalbed methane explosion is an independent mining licence
In the increasingly popular field of coal bed methane, China Petroleum (601,857) and Natural Gas Corporation (the oil) with China Coal Group of Companies (hereinafter referred to in the coal) from once a close partner, to be transformed into a strong competitor.
12 years ago, relying on the former oil and gas resources in the field of technology and the development of the latter in the field of mine Shuren, the two national enterprises in accordance with the investment ratio of 50:50, set up in the common coal bed methane limited liability company (hereinafter referred to in the Coal), in the oil and thereafter will be held assets into listed companies.
"Now two shareholders on the reorganization began, in the hope that the oil out of the coal." July 15, general manager of China United Coal Sun Mao Yuan told reporters: "Shareholders should be asked, after the reorganization, I get an interview."
Multi-understand our reporter was informed that the request to withdraw from the oil Yiranjueran in the coal, coal bed methane fields in addition to hope单打独斗, in its coal and coalbed methane in the transport network is also in dispute, the transport network conflict Can be counted as the two sides separated the fuse.
China United Coal will be achieved in the wholly-owned coal
"Once the oil do so out of the coal, coal will be in the sole control of the coal, the results will be announced in a month or two." Sun Mao Yuan to accept the Hong Kong media recently said in an interview.
International cooperation in the coal FU Xiao Hong, deputy director of the Hong Kong media also disclosed that the Hong Kong-listed PetroChina will be held in the coal sale of shares in the coal, coal in a coal in the remaining 50 per cent of the shares.
In the coal insiders confirmed to reporters: "China attaches great importance to coal bed methane in coal mining, even in the absence of oil, coal bed methane in coal fields in the development will still continue. Not only that, in the coal will also increase input power. "
In the coal is China's second largest coal group, and in different oil, coal bed methane in the field of energy into all joint venture companies in the coal on. In the coal insiders said that the exploitation of coalbed methane resources in coal, on the one hand from mine production safety guarantee starting, but also development and utilization of new energy needs.
But in the coal into coal bed methane field was not all smooth sailing, as in previous years, the local coal mine safety work seriously enough, and gas production and mining rights to the conflict in the coal mining areas in the coalbed methane has been difficult.
"From the beginning of 2006, particularly 2007, coal mine accidents occurred one after another, the national coal mine safety accidents in unprecedented attention to it." Coal network analyst Zhaoyu Wei told this reporter: "CBM exploration relatively recent fire. "
Under the current proven the results of coalbed methane resources in China total 31 trillion cubic meters, of which 16 trillion cubic meters have good development prospects, mainly concentrated in Shanxi, Inner Mongolia and Xinjiang and other places, including Shanxi, a province of coalbed methane reserves On the country's reserves of the United States.
According to the plan, by 2020 China's natural gas demand will reach 200 billion cubic meters, nearly 50 percent of the demand will depend on imports, and coal bed methane will become an important supplement to natural gas.
Self-built pipeline intensification of the conflict »
In front of a huge market, the party is rich in coal mining experience, one of the leading oil and gas mining experience, it was almost two is golden partner, 12 contained Jieyuan Why choose breaking up »
"At that time, oil in the hope that the joint venture company owned by the 'West-East Gas Pipeline' and 'Shaanxi-Beijing second-line', transport coal bed methane." Close to the one in the coal told reporters, "but found in the coal, if the walk These two existing gas pipeline, cost-. "
Last year, Sun Mao Yuan in an exclusive interview with this reporter when he said that although the "West-East Gas Pipeline", "Shaanxi-Beijing second-line" via Shanxi Province, in theory, the two coal bed methane can be piped, but because the profit margins compared CBM Low to the "West-East Gas Pipeline" piped cost-per litre CBM take 0.3 to 0.5 yuan costs.
To this end, in the planning of coal self-built pipeline network. According to Sun Mao Yuan, to 2010, China United Coal will build four coal bed methane pipeline, are: client's - Jincheng - Pok Oi (2007),'s end - Changzhi - Lin states - Anyang - Handan (2008), South Korea - Xi'an (2009), Baode - Shaanxi-Beijing (2009), a total length of 675 km and the total design capacity of 2.2 billion cubic meters gas.
"Although can borrow some of coalbed methane natural gas pipeline, but by then, most of these new coal bed methane, mainly through the supply pipe network users." Sun Mao Yuan said.
In the coal and oil is clearly contrary to original intention of cooperation.
"In addition to rich oil and gas excavation mining experience, in the oil pipeline is the biggest competitive advantages." Zhao Yuwei that the divestment of oil go it alone, due to the hands of a few channels - West-East Gas Pipeline, is about 4,200 kilometers, investment Size of over 1,400 billion yuan, is the longest distance in China, the largest diameter gas pipeline, the Tarim Basin in the west round of the South, the North Tower is the starting point for oil, pass through Shaanxi, east to Shanghai. A total investment of 12.9 billion yuan of the Shaanxi-Beijing second-line, the west and Shaanxi Yulin, as Shanxi, Hebei, Beijing to end.
Is an independent oil in the licence application
In addition, in the coal and coalbed methane operations in general in all our energy into the various coal, oil in addition to participation in the coal, is also actively expanding its coal bed methane operations.
In March 28th at the 2007 annual performance in the oil-line investors at the exchange, oil planning in the Ministry of Planning, Deputy Chief Economist Xu Jianmei said that the coalbed methane company is "11th Five-Year Plan" identified the key development of new energy business . By the end of 2007, the company found in the Qinshui Basin of the larger reserves of coal bed methane, a certain production capacity, and launched a 3 billion deal with the side / coal bed methane in a central treatment plant construction, also in oil In preparation for the Junggar Basin, Erdos (600,295) Basin coal bed methane exploration and have achieved initial results and understanding. "11th Five-Year Plan" period, to continue to increase in oil investment in coal bed methane.
July 16, in an internal oil to the press confirmed that the oil in the area of coal bed methane has attached great importance over the past few years in Qinshui Basin, Shanxi Province has invested large amounts of funds, "the current progress is good, now have a few 100 of the wells. "
However, the divestment of the coal, these people said only: "We have just heard in the coal preparation for the shareholders of a reorganization, as a matter of the oil out, could not be confirmed by high-level."
Deserves attention is that the September 24, 2007, the State Council announced on the exploitation of land for oil resources to amend the Ordinance, Article 30 was amended to "external cooperation by the exploitation of coalbed methane resources of coal bed methane limited liability company, designated by the State Council Other companies franchise. "
According to the coal in an internal source, in cooperation with foreign countries, the oil is applied to the Government for independent development of coal bed methane licence.
It seems that in Zhaoyu Wei: "The State Council is appointed by other companies in the oil, otherwise he would not withdraw from."
2008-07-12
Iran's shadow over international oil prices
As the Organization of Petroleum Exporting Countries (OPEC) second-largest member, as the current round of rising oil prices factor in the course of the war premium of the protagonist »» Iran's every move will no doubt affect the world oil price sensitive nerve.
Confrontation with Iraq pushed up oil prices
July 9, 10, sustained the Iranian Revolutionary Guards fired several long range missile, the Iranian side in response to the frequent military moves, Israel on July 10 showed its latest spy plane. The same day, Israeli Defense Minister Ehud Barak warned that if Israel's vital interests are threatened, Israel will "not hesitate" to resort to military action. Iraq to the "live ammunition" confrontation and suddenly this has aggravated the crisis of the tension in the Gulf region, and the power far beyond the previously unlimited expansion of the speculators are the various war fears, oil prices Pushed up all the way. 10, the New York Mercantile Exchange crude oil futures rose nearly 5.60 to 141.65 U.S. dollars a barrel, setting the New York Mercantile Exchange crude oil futures on the history of the second largest single-day gain. London Brent crude oil futures prices also rose 3.99 percent, to 142.03 U.S. dollars a barrel. Analysts believe that if the United States and Iran, relations with Iraq once the irreversibility of the tense situation, oil prices very likely up to a high of 200 U.S. dollars per barrel. However, only a few days ago, the outside world had been interpreted as a series of moderate Iran's words and deeds to show soft crazy at the time soared to 145 U.S. dollars per barrel at the top of the price of oil came, July 2, Iran's supreme spiritual leader Ayatollah Ali Khamenei Velayati said that foreign policy adviser, Ayatollah Ali Khamenei decided personally with world powers on behalf of negotiations to resolve the Iranian nuclear issue; July 3, the Iranian side expressed its readiness to consider allowing the United States established diplomatic institutions in Tehran, the two countries and called for the resumption of direct flights; July 7, Iran to the EU foreign and security policy chief Javier Solana submitted on the Iranian nuclear issue to resume talks reply letter…… in the Iranian position after this series, went down in international oil prices, reduced 9.25 U.S. dollars, a The past four months the biggest one-day decline of 6.4 percent. At present, the reaction of the market clearly reflects a short-term future of oil prices: oil prices rose to Iran, Iran is also down. Iran factor in this week really started from the minds of speculators went to the front.
Deterrence and cooperation between the two cards are playing
Between the United States and Iraq, "Jiao E" has continued for nearly 30 years, but also from the real war seems to have a certain distance.
From the United States in terms of soaring oil prices make the U.S. economy has been suffering, the war brought the oil market turmoil, the United States also can not afford. At the same time, bogged down in the quagmire of Iraq the battlefield for the Bush administration has been accused of rashly if the use of force against Iran, while operating in the same area two wars, now the United States, also seems to be an "impossible task." In the remaining presidential term of office less than 200 days of time, although the Bush hopes to give the Iran issue a final statement, but out of the election, considerations of public opinion, the U.S. government or will not take the initiative to accelerate the deterioration of relations between the two countries. At present most want the election victory of Obama to contain oil prices continue to rise in the Declaration and the campaign has consistently advocated maintaining a dialogue with Iran's attitude, but also to the world that still exists between the United States and Iran the possibility of peace talks.
And from the Iranian point of view, although with 4.2 million barrels of oil output, oil transport to Sai Huoer wood Abroad Gap and the Bush administration from the hands of the value of imports of 148,000 U.S. dollars of weapons and equipment, etc., as bargaining chips, but the current domestic Iran to the United States Attitude is still a lot of differences. To Iran's supreme spiritual leader Ayatollah Ali Khamenei headed by the "chief negotiator" stand not to risk sending in favour of a diplomatic solution to the Iranian nuclear issue, but it does not rule out the United States, Israel's military strikes against Iran, the possibility that Iran also need this To prevent. And to the Iranian President Ahmadinejad as the representative of "hardliners" that the military attack on Iran the possibility does not exist, so Iran should adhere to their attitude and refused any concessions. In view of Ayatollah Ali Khamenei in Iran's prestige and no one can, that it is still possible to become a problem in Iraq direction of future negotiations. At this very moment Iran itself can be placed into a retreat can observe the attack position, without renouncing the use of force to resolve the premise, and also has not closed the door to the six-party nuclear talks.
Analysts believe that the development of Iran's "deterrent diplomacy" will indeed be the world price of oil rose to provide a real factor, but the problem is not between the United States and Iraq can not be resolved, the war of the two countries equally devastating The two countries, the domestic "owners" forces still prevail. So Iran can play the role of factors ultimately may not like speculators are wants, the world oil market so the possibility of catastrophic crisis is still not high.
Confrontation with Iraq pushed up oil prices
July 9, 10, sustained the Iranian Revolutionary Guards fired several long range missile, the Iranian side in response to the frequent military moves, Israel on July 10 showed its latest spy plane. The same day, Israeli Defense Minister Ehud Barak warned that if Israel's vital interests are threatened, Israel will "not hesitate" to resort to military action. Iraq to the "live ammunition" confrontation and suddenly this has aggravated the crisis of the tension in the Gulf region, and the power far beyond the previously unlimited expansion of the speculators are the various war fears, oil prices Pushed up all the way. 10, the New York Mercantile Exchange crude oil futures rose nearly 5.60 to 141.65 U.S. dollars a barrel, setting the New York Mercantile Exchange crude oil futures on the history of the second largest single-day gain. London Brent crude oil futures prices also rose 3.99 percent, to 142.03 U.S. dollars a barrel. Analysts believe that if the United States and Iran, relations with Iraq once the irreversibility of the tense situation, oil prices very likely up to a high of 200 U.S. dollars per barrel. However, only a few days ago, the outside world had been interpreted as a series of moderate Iran's words and deeds to show soft crazy at the time soared to 145 U.S. dollars per barrel at the top of the price of oil came, July 2, Iran's supreme spiritual leader Ayatollah Ali Khamenei Velayati said that foreign policy adviser, Ayatollah Ali Khamenei decided personally with world powers on behalf of negotiations to resolve the Iranian nuclear issue; July 3, the Iranian side expressed its readiness to consider allowing the United States established diplomatic institutions in Tehran, the two countries and called for the resumption of direct flights; July 7, Iran to the EU foreign and security policy chief Javier Solana submitted on the Iranian nuclear issue to resume talks reply letter…… in the Iranian position after this series, went down in international oil prices, reduced 9.25 U.S. dollars, a The past four months the biggest one-day decline of 6.4 percent. At present, the reaction of the market clearly reflects a short-term future of oil prices: oil prices rose to Iran, Iran is also down. Iran factor in this week really started from the minds of speculators went to the front.
Deterrence and cooperation between the two cards are playing
Between the United States and Iraq, "Jiao E" has continued for nearly 30 years, but also from the real war seems to have a certain distance.
From the United States in terms of soaring oil prices make the U.S. economy has been suffering, the war brought the oil market turmoil, the United States also can not afford. At the same time, bogged down in the quagmire of Iraq the battlefield for the Bush administration has been accused of rashly if the use of force against Iran, while operating in the same area two wars, now the United States, also seems to be an "impossible task." In the remaining presidential term of office less than 200 days of time, although the Bush hopes to give the Iran issue a final statement, but out of the election, considerations of public opinion, the U.S. government or will not take the initiative to accelerate the deterioration of relations between the two countries. At present most want the election victory of Obama to contain oil prices continue to rise in the Declaration and the campaign has consistently advocated maintaining a dialogue with Iran's attitude, but also to the world that still exists between the United States and Iran the possibility of peace talks.
And from the Iranian point of view, although with 4.2 million barrels of oil output, oil transport to Sai Huoer wood Abroad Gap and the Bush administration from the hands of the value of imports of 148,000 U.S. dollars of weapons and equipment, etc., as bargaining chips, but the current domestic Iran to the United States Attitude is still a lot of differences. To Iran's supreme spiritual leader Ayatollah Ali Khamenei headed by the "chief negotiator" stand not to risk sending in favour of a diplomatic solution to the Iranian nuclear issue, but it does not rule out the United States, Israel's military strikes against Iran, the possibility that Iran also need this To prevent. And to the Iranian President Ahmadinejad as the representative of "hardliners" that the military attack on Iran the possibility does not exist, so Iran should adhere to their attitude and refused any concessions. In view of Ayatollah Ali Khamenei in Iran's prestige and no one can, that it is still possible to become a problem in Iraq direction of future negotiations. At this very moment Iran itself can be placed into a retreat can observe the attack position, without renouncing the use of force to resolve the premise, and also has not closed the door to the six-party nuclear talks.
Analysts believe that the development of Iran's "deterrent diplomacy" will indeed be the world price of oil rose to provide a real factor, but the problem is not between the United States and Iraq can not be resolved, the war of the two countries equally devastating The two countries, the domestic "owners" forces still prevail. So Iran can play the role of factors ultimately may not like speculators are wants, the world oil market so the possibility of catastrophic crisis is still not high.
Members of the oil spot transactions declassified "discount to 10 U.S. dollars / ton" provisions
Members of the oil spot transactions declassified "discount to 10 U.S. dollars / ton," the terms "unless there are speculators these goods are bought, stored up."
To continue the hearing "speculative Pushing Hands"
July 10 and 11, the U.S. Senate held hearings on two consecutive days, the oil price is due to launch a new round of speculation caused debate and investigation.
On the 10th meeting of the U.S. Commodity Futures Trading Commission (CFTC) Chairman Walter »Luken (Walter Lukken), after investigation, found no conspiracy to promote the trading price of crude oil to the signs," did not find any person hoarding oil Evidence. "
However, the chair of the Democratic Party's Rosa »De Laoluo (Rosa DeLauro) very dissatisfied with this, she accused the CFTC did not make its own efforts to curb speculation on the market and protect the interests of consumers.
U.S. Congress perseverance that oil and other commodity prices rising by speculative factors, before a number of bills have been passed to CFTC investigation and put an end to speculation and curb oil prices, the CFTC more authority at the appropriate time available "emergency Mechanism ", including to improve the trade margin, and other tough measures.
The world-famous energy advisory body Purvin & Gertz, senior vice president John »Wateleien (John Vautrain) an interview with this reporter that this is the U.S. Congress because of their political needs of the voters to make a reaction, The current energy situation no benefits.
He explained that in oil and other commodity futures markets, speculators are the buyer is the seller, the oil price rise, the buyer money from the seller loss of money. Does not add real value of the commodity futures market, the return of the money is only right and the left pocket of the pockets of the problem. Therefore, the higher the price increase is attributed to speculative trading unreasonable.
Another energy analyst »» Platts (Platts), senior editor David »Ensiboge (David Ernsberger) also said it is" political needs. " He believes that oil prices starting from 2003 up to now have five years, the speculative factors to such a huge commodity market rally five years is impossible.
From the Mainland of China Merchants Securities energy analyst Qiu Xiao-feng also opined: international commodity futures markets is different from the domestic A-share market, can do more can go short, as long as done in the right direction can be profitable if the price rose briefly Attributed to speculative factors, there is no basis; mainly to long-term contract transactions, the same commodities are iron ore as an example, the statistics show that in 2003 the gains so far achieved 475 percent, even more than the crude oil futures; look at this , The speculation is obviously not explain the rise in commodity prices for the best.
Qiu Xiao-feng, speculation on commodity prices do not affect the long-term trend, but a short time to enlarge the role of price fluctuations. Rising oil prices caused by the three main factors: the supply did not follow the rising oil prices and increased demand for not following the rise in oil prices decreased over the past few years and the depreciation of the dollar and increase the liquidity of the currency.
Wateleien the views and Qiu Xiao-feng roughly the same. He analyzed the international supply of crude oil production capacity from the late 1990s onwards there will be no significant increase, while demand has remained steady growth, is caused by rising oil prices the main reason. He believes that the current oil price is a good price (Good Price), because it prompted people to reduce energy consumption and waste. He recently to the United States to change consumer behaviour for example, that Americans switch to lower fuel consumption of small cars and reduce the number of kilometres by car, energy conservation is a good change.
Wateleien the U.S. Congress to crack down on speculation against the practice, he believes that once the implementation of the measures to decrease oil prices in the short run, will only make the Americans will now begin to pick up fuel-efficient waste of consumption concept, and then to And the relationship between supply and demand imbalance in oil prices to rise.
For the past few days, oil prices fell, the three analysts views fairly consistent.
Ensiboge and Wateleien, that this is a market of "extreme reaction" because up until the time is too long, too big margin after a pullback and trading information for some negative reaction too large . Ensiboge that more than nine U.S. dollars within three days of the decline in the amount on it more, but in proportion (6 percent) is not high.
Qiu Xiao-Feng believes that the decline in the past few days shows that the speculative factors on short-term fluctuations of the amplification.
For long-term judgement, the views of three analysts have basically the same: as long as the basic factors of supply and demand levels without a fundamental change in long-term bullish on oil prices.
Dealers declassified "Shengtie Shui"
A familiar spot transaction of oil traders through the spot market trading mechanism which explained to reporters the situation. He said that the oil spot market and futures market trading association also exists between both distinction. In futures trading on the market for paper-based transactions are the ultimate in-kind settlement ratio is very low. And barter trade with current and long-term, single-spot transactions and contract period, and other types of transactions, the way will Mercantile Exchange reference to the futures or spot price, the transaction price as the decision to base.
According to the traders, the international oil (including crude oil and other petroleum products) many types of trade, commerce and trade contracts in most of the price or prices are way with the International Mercantile Exchange, close to the price. In contract negotiations, the two sides will be based on delivery time, market conditions, and cooperative relations, prospects for cooperation, number of transactions, such as a number of factors, the price of premium or discount to the amount or ratio to reach an agreement.
Members of the transaction to our reporter in a display of model contracts, the price terms: "to Singapore Platts × × product (MOPS) × × years, before and after the 5th × offshore (FOB) price of the benchmark, Discount to 10 U.S. dollars / ton. "The dealer explained that the delivery of the goods for the day (that is, in terms of" × × years on × Day ") may be the price volatility risk considerations, would normally take some time before and after delivery The average price of the price or the method of valuation as a benchmark.
As for the "discount 10 U.S. dollars / ton," the terms for the two sides taking into account the local market at the time of the supply-demand relationship and cooperation between the two sides to a certain concessions. However, if a supply of tension or other circumstances not conducive to the buyer, the clause may become a "premium" that is, price increase on a certain amount. Premium / discount that the methods used in addition to a fixed amount, for example, will use a fixed percentage (that is, a certain percentage) of the way. Its value can change greatly, depending on their background, cooperative relations and bargaining power. The traders, large institutions, such as refineries or the Government and other organizations often than ordinary commercial organizations to get more concessions.
In addition to the market price of pegging the way, there are locked price of a certain period of time. If an enterprise of a period of price comparison with the cost or the need to lock, which can be used to a limited period of time to buy fixed-price approach or lock price range.
2003, Guangdong and Australia signed the Treaty of LNG supply, the purchase of LNG with the 15-25 dollar price of international crude oil prices linked to the interval. In other words, the Australian side of the Guangdong liquefied natural gas sold to the highest prices in international oil prices not exceeding 25 U.S. dollars at the corresponding LNG price, duration of contract for 25 years.
In addition, since all petroleum products and the quality of different indicators, the change in Shengtie Shui will be different.
According to Chinese Customs Department statistics show that from January to May this year, China imported crude oil average price of 689.9 U.S. dollars / ton, equivalent to 7.33 barrels per ton, during which China's imports of crude oil average price of 94.13 U.S. dollars a barrel. Over the same period, light sweet crude in the international price of spot transactions in between 88 to 132 U.S. dollars, most of the time is higher than the 94.13 U.S. dollars level.
Members of the deal this view is, as the international crude oil prices on generic models, such as Brent and the New York Mercantile Exchange, light sweet crude West Texas, are light and low sulphur crude oil for the composition of the subject matter And in fact more in the proportion of oil and sulphur content than in the two species to be high, mostly in the implementation of price discount to the way transactions. China's imports of crude oil, may be part of a relatively higher quality and higher sulfur species, the transaction price will be correspondingly lower. At the same time, China's crude oil imports are mostly from the background of relatively strong strength of enterprises and institutions and thus should be given more than ordinary business of discount concessions.
For a reporter's question, the more solid strength of the United States get higher discount and signed a long-term concessionary contract price range of issues identified, the trader's reply was: "In theory this should be."
U.S. Energy Information Administration's report by the public, July 4, 2008, the United States the average transaction price of crude oil to 133.60 U.S. dollars a barrel, than the global average of 137.11 U.S. dollars a low 3.51 U.S. dollars.
The crude oil market financial products transaction price is due to the current problems caused by speculation, the dealers of the view that the current futures market speculation on the exact proportion of very high, but the ability to price substantially deviated from the spot price of the deal, he expressed doubts. He believes that if buyers and sellers in the cash transaction do not agree with the price of goods can not be sold, the seller will be able to run on commodities trading in the market prices of re-sale of balance, "unless there are speculators can these goods are bought , Storing up ", although the actual operation, the main business of spot transactions do not tend to the seller of goods to intervene in the market.
However, he also disclosed that according to his understanding of the situation, the recent crude oil spot transactions, the prices before the discount rate is higher than some.
To continue the hearing "speculative Pushing Hands"
July 10 and 11, the U.S. Senate held hearings on two consecutive days, the oil price is due to launch a new round of speculation caused debate and investigation.
On the 10th meeting of the U.S. Commodity Futures Trading Commission (CFTC) Chairman Walter »Luken (Walter Lukken), after investigation, found no conspiracy to promote the trading price of crude oil to the signs," did not find any person hoarding oil Evidence. "
However, the chair of the Democratic Party's Rosa »De Laoluo (Rosa DeLauro) very dissatisfied with this, she accused the CFTC did not make its own efforts to curb speculation on the market and protect the interests of consumers.
U.S. Congress perseverance that oil and other commodity prices rising by speculative factors, before a number of bills have been passed to CFTC investigation and put an end to speculation and curb oil prices, the CFTC more authority at the appropriate time available "emergency Mechanism ", including to improve the trade margin, and other tough measures.
The world-famous energy advisory body Purvin & Gertz, senior vice president John »Wateleien (John Vautrain) an interview with this reporter that this is the U.S. Congress because of their political needs of the voters to make a reaction, The current energy situation no benefits.
He explained that in oil and other commodity futures markets, speculators are the buyer is the seller, the oil price rise, the buyer money from the seller loss of money. Does not add real value of the commodity futures market, the return of the money is only right and the left pocket of the pockets of the problem. Therefore, the higher the price increase is attributed to speculative trading unreasonable.
Another energy analyst »» Platts (Platts), senior editor David »Ensiboge (David Ernsberger) also said it is" political needs. " He believes that oil prices starting from 2003 up to now have five years, the speculative factors to such a huge commodity market rally five years is impossible.
From the Mainland of China Merchants Securities energy analyst Qiu Xiao-feng also opined: international commodity futures markets is different from the domestic A-share market, can do more can go short, as long as done in the right direction can be profitable if the price rose briefly Attributed to speculative factors, there is no basis; mainly to long-term contract transactions, the same commodities are iron ore as an example, the statistics show that in 2003 the gains so far achieved 475 percent, even more than the crude oil futures; look at this , The speculation is obviously not explain the rise in commodity prices for the best.
Qiu Xiao-feng, speculation on commodity prices do not affect the long-term trend, but a short time to enlarge the role of price fluctuations. Rising oil prices caused by the three main factors: the supply did not follow the rising oil prices and increased demand for not following the rise in oil prices decreased over the past few years and the depreciation of the dollar and increase the liquidity of the currency.
Wateleien the views and Qiu Xiao-feng roughly the same. He analyzed the international supply of crude oil production capacity from the late 1990s onwards there will be no significant increase, while demand has remained steady growth, is caused by rising oil prices the main reason. He believes that the current oil price is a good price (Good Price), because it prompted people to reduce energy consumption and waste. He recently to the United States to change consumer behaviour for example, that Americans switch to lower fuel consumption of small cars and reduce the number of kilometres by car, energy conservation is a good change.
Wateleien the U.S. Congress to crack down on speculation against the practice, he believes that once the implementation of the measures to decrease oil prices in the short run, will only make the Americans will now begin to pick up fuel-efficient waste of consumption concept, and then to And the relationship between supply and demand imbalance in oil prices to rise.
For the past few days, oil prices fell, the three analysts views fairly consistent.
Ensiboge and Wateleien, that this is a market of "extreme reaction" because up until the time is too long, too big margin after a pullback and trading information for some negative reaction too large . Ensiboge that more than nine U.S. dollars within three days of the decline in the amount on it more, but in proportion (6 percent) is not high.
Qiu Xiao-Feng believes that the decline in the past few days shows that the speculative factors on short-term fluctuations of the amplification.
For long-term judgement, the views of three analysts have basically the same: as long as the basic factors of supply and demand levels without a fundamental change in long-term bullish on oil prices.
Dealers declassified "Shengtie Shui"
A familiar spot transaction of oil traders through the spot market trading mechanism which explained to reporters the situation. He said that the oil spot market and futures market trading association also exists between both distinction. In futures trading on the market for paper-based transactions are the ultimate in-kind settlement ratio is very low. And barter trade with current and long-term, single-spot transactions and contract period, and other types of transactions, the way will Mercantile Exchange reference to the futures or spot price, the transaction price as the decision to base.
According to the traders, the international oil (including crude oil and other petroleum products) many types of trade, commerce and trade contracts in most of the price or prices are way with the International Mercantile Exchange, close to the price. In contract negotiations, the two sides will be based on delivery time, market conditions, and cooperative relations, prospects for cooperation, number of transactions, such as a number of factors, the price of premium or discount to the amount or ratio to reach an agreement.
Members of the transaction to our reporter in a display of model contracts, the price terms: "to Singapore Platts × × product (MOPS) × × years, before and after the 5th × offshore (FOB) price of the benchmark, Discount to 10 U.S. dollars / ton. "The dealer explained that the delivery of the goods for the day (that is, in terms of" × × years on × Day ") may be the price volatility risk considerations, would normally take some time before and after delivery The average price of the price or the method of valuation as a benchmark.
As for the "discount 10 U.S. dollars / ton," the terms for the two sides taking into account the local market at the time of the supply-demand relationship and cooperation between the two sides to a certain concessions. However, if a supply of tension or other circumstances not conducive to the buyer, the clause may become a "premium" that is, price increase on a certain amount. Premium / discount that the methods used in addition to a fixed amount, for example, will use a fixed percentage (that is, a certain percentage) of the way. Its value can change greatly, depending on their background, cooperative relations and bargaining power. The traders, large institutions, such as refineries or the Government and other organizations often than ordinary commercial organizations to get more concessions.
In addition to the market price of pegging the way, there are locked price of a certain period of time. If an enterprise of a period of price comparison with the cost or the need to lock, which can be used to a limited period of time to buy fixed-price approach or lock price range.
2003, Guangdong and Australia signed the Treaty of LNG supply, the purchase of LNG with the 15-25 dollar price of international crude oil prices linked to the interval. In other words, the Australian side of the Guangdong liquefied natural gas sold to the highest prices in international oil prices not exceeding 25 U.S. dollars at the corresponding LNG price, duration of contract for 25 years.
In addition, since all petroleum products and the quality of different indicators, the change in Shengtie Shui will be different.
According to Chinese Customs Department statistics show that from January to May this year, China imported crude oil average price of 689.9 U.S. dollars / ton, equivalent to 7.33 barrels per ton, during which China's imports of crude oil average price of 94.13 U.S. dollars a barrel. Over the same period, light sweet crude in the international price of spot transactions in between 88 to 132 U.S. dollars, most of the time is higher than the 94.13 U.S. dollars level.
Members of the deal this view is, as the international crude oil prices on generic models, such as Brent and the New York Mercantile Exchange, light sweet crude West Texas, are light and low sulphur crude oil for the composition of the subject matter And in fact more in the proportion of oil and sulphur content than in the two species to be high, mostly in the implementation of price discount to the way transactions. China's imports of crude oil, may be part of a relatively higher quality and higher sulfur species, the transaction price will be correspondingly lower. At the same time, China's crude oil imports are mostly from the background of relatively strong strength of enterprises and institutions and thus should be given more than ordinary business of discount concessions.
For a reporter's question, the more solid strength of the United States get higher discount and signed a long-term concessionary contract price range of issues identified, the trader's reply was: "In theory this should be."
U.S. Energy Information Administration's report by the public, July 4, 2008, the United States the average transaction price of crude oil to 133.60 U.S. dollars a barrel, than the global average of 137.11 U.S. dollars a low 3.51 U.S. dollars.
The crude oil market financial products transaction price is due to the current problems caused by speculation, the dealers of the view that the current futures market speculation on the exact proportion of very high, but the ability to price substantially deviated from the spot price of the deal, he expressed doubts. He believes that if buyers and sellers in the cash transaction do not agree with the price of goods can not be sold, the seller will be able to run on commodities trading in the market prices of re-sale of balance, "unless there are speculators can these goods are bought , Storing up ", although the actual operation, the main business of spot transactions do not tend to the seller of goods to intervene in the market.
However, he also disclosed that according to his understanding of the situation, the recent crude oil spot transactions, the prices before the discount rate is higher than some.
China's crude oil exports in June rose 550 percent
According to the General Administration of Customs announced yesterday the data show that in June the same month China's exports of crude oil 1.42 million tons, representing a year-on-year increase of 5.5 times. The January-May China's crude oil exports only 950,000 tons, down 40.4 percent. At this point, the first half of China's exports of crude oil 2.37 million tons, up 30.6 percent.
Many factors have contributed to the export surge
Analysts pointed out that the June crude oil exports increased substantially, mainly by soaring international crude oil prices continue to promote and lead to soaring international oil prices continued to increase exports of crude oil production, and also makes entrenched domestic large number of international floating capital investment in domestic oil speculation.
The June crude oil imports fell sharply increase the previous month, but also from high international oil price factors to explain. Customs data show that in June China's crude oil imports 14.57 million tons, up 3.3 percent, while growth in May was 25 percent. The first half, China's total crude oil imports 90.53 million tons, up 11 percent.
However, some experts said that the June crude oil exports may increase reflected the barter trade. Energy strategy expert Wu Jian-Dong pointed out that China and its neighboring countries often have such a barter trade, such as Vietnam and other countries.
China's gas station network Yu Li, principal analyst pointed out that this may be because it exports. Domestic crude oil companies may be better quality light, sweet crude oil exports for foreign exchange and then import more funds for the quality of稍差of crude oil. Most of the current domestic refineries more advanced equipment, including desulfurization equipment, which is also a reasonable approach.
In addition, the reporter was informed that the Ministry of Finance and the General Administration of Customs recently发文, announced the cancellation of implementation of the 25 foreign share of oil export duty-free. Central University of Finance and Taxation Institute Professor Liu Huan said that the abolition of the foreign concessions, a clear is the capital of China's export-oriented, rather than of resources and pollution of domestic exports.
Since August 1, China will be Chinese-foreign cooperative exploitation of offshore oil contracts to foreign crude oil exports from the levy of about 5 percent of the normal tariff and about 17% of the value-added tax and abolishing the export tax rebate concessions. Analysts pointed out that the crude oil export industry policy adjustments may also prompted crude oil in the August 1抢export clearance, resulting in crude oil exports surged in June.
Finished oil products in the first half year, China exported 7.88 million tons of refined oil, representing a 0.3 percent decline in the same period last year. The June export 1.39 million tons the same month a year earlier fell 3.5 percent.
On the import side, imports of finished oil products in the first half of 21.01 million tons, up 16.4 percent. Of these, in June of refined oil 3.67 million tons, up 12.6 percent, much lower than the growth rate in May of 46.5 percent.
Prices of primary products imports Qisheng
As international commodity prices continue rising, China's imports of primary products significantly accelerate the pace of the main varieties average price of imports rose sharply. Customs statistics show that in the first half of this year, China's imports of primary products to 184 billion U.S. dollars, an increase of 69.9 percent.
Among them, China's crude oil imports averaged 717.7 U.S. dollars / ton, up 67.3 percent and imports of refined oil averaged 758.9 U.S. dollars / ton, up 77.3 percent;
In addition, the first half of this year, China imported 230 million tons iron ore, up 22.5 percent and imports average of 132.6 U.S. dollars / ton, up 77.4 percent, and imports 21.55 million tons of coal, down 20.4%, average 66.9 U.S. dollars / ton, up 43.7 percent ; Soybean imports (5043,97.00,1.96% point) 17.23 million tons, an increase of 24.4%, average 584.1 U.S. dollars / ton, up 78.3 percent.
Over the same period, China's imports of industrial products 383.57 billion U.S. dollars, an increase of 17.5 percent, accounting for the same period the total value of imports of 67.6 percent. Among them, imports of machinery and electronic products 265.38 billion U.S. dollars, an increase of 18.9 percent, and imports 212,000 cars, up 53.2 percent.
Many factors have contributed to the export surge
Analysts pointed out that the June crude oil exports increased substantially, mainly by soaring international crude oil prices continue to promote and lead to soaring international oil prices continued to increase exports of crude oil production, and also makes entrenched domestic large number of international floating capital investment in domestic oil speculation.
The June crude oil imports fell sharply increase the previous month, but also from high international oil price factors to explain. Customs data show that in June China's crude oil imports 14.57 million tons, up 3.3 percent, while growth in May was 25 percent. The first half, China's total crude oil imports 90.53 million tons, up 11 percent.
However, some experts said that the June crude oil exports may increase reflected the barter trade. Energy strategy expert Wu Jian-Dong pointed out that China and its neighboring countries often have such a barter trade, such as Vietnam and other countries.
China's gas station network Yu Li, principal analyst pointed out that this may be because it exports. Domestic crude oil companies may be better quality light, sweet crude oil exports for foreign exchange and then import more funds for the quality of稍差of crude oil. Most of the current domestic refineries more advanced equipment, including desulfurization equipment, which is also a reasonable approach.
In addition, the reporter was informed that the Ministry of Finance and the General Administration of Customs recently发文, announced the cancellation of implementation of the 25 foreign share of oil export duty-free. Central University of Finance and Taxation Institute Professor Liu Huan said that the abolition of the foreign concessions, a clear is the capital of China's export-oriented, rather than of resources and pollution of domestic exports.
Since August 1, China will be Chinese-foreign cooperative exploitation of offshore oil contracts to foreign crude oil exports from the levy of about 5 percent of the normal tariff and about 17% of the value-added tax and abolishing the export tax rebate concessions. Analysts pointed out that the crude oil export industry policy adjustments may also prompted crude oil in the August 1抢export clearance, resulting in crude oil exports surged in June.
Finished oil products in the first half year, China exported 7.88 million tons of refined oil, representing a 0.3 percent decline in the same period last year. The June export 1.39 million tons the same month a year earlier fell 3.5 percent.
On the import side, imports of finished oil products in the first half of 21.01 million tons, up 16.4 percent. Of these, in June of refined oil 3.67 million tons, up 12.6 percent, much lower than the growth rate in May of 46.5 percent.
Prices of primary products imports Qisheng
As international commodity prices continue rising, China's imports of primary products significantly accelerate the pace of the main varieties average price of imports rose sharply. Customs statistics show that in the first half of this year, China's imports of primary products to 184 billion U.S. dollars, an increase of 69.9 percent.
Among them, China's crude oil imports averaged 717.7 U.S. dollars / ton, up 67.3 percent and imports of refined oil averaged 758.9 U.S. dollars / ton, up 77.3 percent;
In addition, the first half of this year, China imported 230 million tons iron ore, up 22.5 percent and imports average of 132.6 U.S. dollars / ton, up 77.4 percent, and imports 21.55 million tons of coal, down 20.4%, average 66.9 U.S. dollars / ton, up 43.7 percent ; Soybean imports (5043,97.00,1.96% point) 17.23 million tons, an increase of 24.4%, average 584.1 U.S. dollars / ton, up 78.3 percent.
Over the same period, China's imports of industrial products 383.57 billion U.S. dollars, an increase of 17.5 percent, accounting for the same period the total value of imports of 67.6 percent. Among them, imports of machinery and electronic products 265.38 billion U.S. dollars, an increase of 18.9 percent, and imports 212,000 cars, up 53.2 percent.
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