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Why do you want to make commercial oil reserves in China?

Published: 2015-02-03 10:18:21

According to the recently released by the national development and reform commission on strengthening commercial crude oil inventories of crude oil processing enterprise operation and management guidance ", minimum commercial crude oil inventories system will be built in our country, all with crude oil as raw material to produce all kinds of oil products processing enterprises, design of store shall be not less than 15 days average daily processing capacity of crude oil.

Why should build system of minimum commercial crude oil inventories?It is significance for establishing and perfecting the multi-level oil storage system?It is a kind of bottom behavior of international petroleum market?Our correspondent interviewed relevant experts and scholars.

Crude oil reserves in our country is still far below international standards, the increase in business not driving oil Gao Guoji oil reserves

Graduate school of Chinese academy of social sciences dean, director of the international energy security research center Huang Xiaoyong said,At present, China's strategic oil reserves is still low.

Since 2003 in our country the strategic oil reserve base, planning complete depot with 15 years in three phase and other hardware facilities construction.Recent news released by the national bureau of statistics, the national petroleum reserve built putting-in-service proactively, a phase of the project including the zhoushan, four countries, such as dalian and huangdao, zhenhai oil reserve base, the total reserve capacity of 16.4 million cubic meters, reserves of 12.43 million tons of crude oil.

China national petroleum corporation in 2014, according to a report released by the end of 2013, China's strategic oil reserve capacity of 141 million barrels of oil.According to China's consumption of oil a day in 2013, 1.39 million tons of the size of the static calculation, strategic crude oil reserve enough to use only 8.9 days in China, the commercial crude oil reserves available 13.8 days, the national oil reserve static ability of a total of about 22.7 days.This requires companies to increase commercial reserves, China's crude oil reserves and only about 30 days.Because enterprise normal production and business operation already has a certain stock, 15 days to reach the processing capacity of reserves, does not need to increase 15 days of inventory.At present, China's petroleum reserve capacity is still well below the international energy agency to set the safety standards of 90 days.

Xu Qinhua thinks, low level of China's oil reserves is an important reason why, whether state-owned or private enterprises are mostly there is a "low into the higher profit" thinking, a lot of money and commercial reserves will occupy enterprise.Even the slump in oil prices at this stage, because the expectations are not clear about future price movements, also failed to arouse enterprise a large number of storage.

"At present, China's increasing domestic commercial crude oil reserves, the international crude oil market is not simple as the bottom of the behavior, but long-term considerations based on national energy security. The current international crude oil market excess production capacity, market downturn, the appropriate increase commercial reserves will not result in a jump in oil prices."Huang Xiaoyong said.

 

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