From an objective point of view, the three ways to purchase trade oil, direct foreign investment, or mergers and acquisitions, and “change oil†have their own advantages and their own limitations.
By contrast, “**change oil†can guarantee China's stable access to crude oil, and it will not have a major impact on the international market; it can also reduce the political risks in the “going out†process and obtain a stable energy supply. At the same time, it can also function as a diversified reserve investment.
Newspaper reporter Wan Siqin/wen With the black crude oil flowing in the pipeline, the flow meter at the first station of the Mohe River in China began to churn. This made Yao Wei, general manager of China National Petroleum Corporation’s pipeline division excited.
At 11:50 on January 1st, Yao Wei issued a formal production and oil transfer order at the first station of Mohe River. The Sino-Russian crude oil pipeline in China's Inner Mongolia Mogao Line (Mohe-Daqing) immediately entered the transportation state.
This is China's use of new cooperation methods in return.
If China can quantify a country’s desire to control oil, China will undoubtedly come out on top. The British "Financial Times" Lex column wrote an article to position China's "***** for oil" considerations.
It is worth noting that since 2009, China has signed agreements with Russia, Venezuela, Angola, Kazakhstan, and Brazil for a total of 45 billion U.S. dollars in exchange for oil.
In the future, whether “change oil†can become a model is worthy of discussion in the industry.
The classic way of “exchanging oil†has officially entered the state of oil transmission with the Sino-Russian crude oil pipeline, and the Sino-Russian “exchange for oil†agreement has also gradually come into effect.
Liu Keyu, former vice president of the China National Petroleum Institute of Economics and Technology and Chinese energy expert, said in an interview with this reporter that as one of the four major channels for China’s oil and gas imports, China-Russia crude oil pipelines have been completed and put into operation to increase China’s energy supply and improve imports. The structure and promotion of economic development will play an important role.
Liu Keyu believes that in the context of the international financial crisis, this kind of cooperation is mainly a kind of support for China’s recovery of the economy by oil resource countries. Even if there is no China, the resource countries will still expand their oil exports to China.
China National Petroleum Corporation, one of China's largest oil and gas companies, is responsible for the construction and management of the pipeline.
The relevant person of China National Petroleum Corporation told this reporter that the large pipelines of China and Russia pass through 440 kilometers of primitive forests, 108 kilometers of permafrost, 11 large and medium-sized rivers, and 5 nature reserves.
According to reports, the Sino-Russian crude oil pipeline originates from Russia's Far East Crude Oil Pipeline Skoroodino distribution station, crosses the border of China, passes through Heilongjiang and Inner Mongolia, and ends at Heilongjiang Daqing Terminal. The total length of the pipeline is nearly 1,000 kilometers. By then, the northeastern pipeline It will become the largest crude oil pipeline in China, with a designed annual oil output of 15 million tons and a maximum annual output of 30 million tons.
At the same time, in Daqing Oilfield, China built 18 100,000 cubic meters of storage tanks for crude oil from Russia.
According to the "** oil exchange" agreement reached between the two countries last year, from January to 2030, that is, the next 20 years, China will receive 300,000 barrels of oil per day, with a total supply of 300 million tons.
The computer monitoring screen in the main control room of the Mohe first station shows that the crude oil delivery flow rate in Russia is about 2,100 cubic meters per hour. According to the plan, Russian crude oil will deliver 42,000 tons on the first day of opening, and 1.32 million tons in January.
Liu Keyu also told reporters that Russia’s crude oil pipeline to China’s Sino-Russian crude oil pipeline was formally put into commercial operation, not only marking the formal link of China's northeast crude oil import strategic direction, but also marking China’s oil “for oil exchangeâ€. The desired effect. It is now necessary to pay attention to the fact that, after the "***** oil exchange" agreement, ** has been implemented, and Russia's repayment of oil loans to China will have to be gradually implemented.
The Pros and Cons of "** Changing Oil" In fact, the operation of the Sino-Russian oil pipeline is only part of China's "** oil exchange" policy.
Since last year, the four major oil and gas import channels of the Central Asia natural gas pipeline, China-Russia crude oil pipeline, China-Myanmar oil and gas pipeline, and offshore LNG have formally formed.
On April 7, China and Venezuela implemented a 12 billion U.S. dollar oil joint venture. The commission promised to increase the daily oil supply to China from 300,000 barrels to 1 million barrels by 2013.
A month later on May 26, Petrobras and the China Development Bank signed a 10-year, $10 billion ** agreement, and finalized a 10-year crude oil long-term export agreement with Sinopec.
After six months, China’s three major oil companies have signed six cooperation agreements with Venezuela and will expand their investment plans in Venezuela to US$40 billion.
There are two voices in the industry for the "***** for oil" cooperation.
One is the main force, taking the Sino-Russian crude oil pipeline as an example. They believe that the Sino-Russian crude oil pipeline's grid connection and oil transmission will eventually take an important step towards the diversification of China's oil imports. Russian crude oil will also be an important supplement for Daqing Oilfield. The provision of a stable oil source for northeastern refineries will also be of great significance to our old industrial parks. One is the worrying faction. They believe that the increase in Russian oil export tax means that China will pay more for crude oil shipped through the China-Russia pipeline.
At present, China is in the mid-stage of industrialization. With the rapid development of the manufacturing industry and the rapid increase in energy for daily use, the consumption of crude oil and other energy resources will expand rapidly. In the past ten years, China’s oil production has increased by only 1.8% per year, but the growth rate of oil consumption has remained stable at more than 6%. The contradiction between supply and demand has been prominent, and the dependence on imported oil continues to increase.
According to statistics from the General Administration of Customs of China, in the first half of 2010, China imported a total of 118 million tons of crude oil, of which 8.69 million tons came from Russia, accounting for approximately 7.4%. With the opening of China-Russia crude oil pipelines, this proportion will increase. Russia is expected to join Saudi Arabia and Angola as China’s top three crude oil suppliers.
Lin Boqiang, director of the China Energy Economic Research Center at Xiamen University, pointed out that the huge oil production and location advantages of Russia and other oil-producing countries are of great significance for obtaining a stable supply of oil, which can effectively ease the pressure on supply and demand in the future and ensure the security of China's oil supply and demand.
"According to the agreement, in the next 15 to 20 years, China will provide petroleum products to the relevant countries in exchange for an annual supply of about 30 million tons of crude oil. '**Changing oil' can be said to both parties. Required.†Lin Boqiang thinks.
The data provided by China Customs shows that according to the current international crude oil price calculation, 15 million tons of crude oil will increase the trade volume between China and Russia by about 8 billion US dollars.
It is noteworthy that the recent rise in Russian crude oil export tariffs will impose restrictions on China.
It is understood that in November last year, the Russian oil export tax was 290.6 US dollars per ton. Due to rising oil prices, Russia’s oil export tax in December increased by 4.5% from November to 303.8 US dollars per ton.
According to the Xinhua News Agency, Russian Ministry of Finance officials said that since January 2011, the Russian crude oil export tax will increase from 303.8 US dollars per ton to 317.5 US dollars, up 4.5%.
Lin Boqiang emphasized that in addition to tariffs, there is still a risk of “exchanging oilâ€. Taking Russia’s oil exchange for example as an example, the price of oil is based on the price of Russian oil transported to Nakhodka port, and finally the floating price is finally determined. Mechanism, follow the market. After the financial crisis, the low price of the national oil has become the fundamental reason why the relevant countries are unwilling to sign long-term fixed oil prices. The recovery of the world economy in the future will certainly drive the recovery of oil prices in the entire international market. If the future oil price market fluctuates greatly, China’s oil exchange agreement will face a huge trade price risk.
As we all know, the cooperation between Sino-Russian oil is not so easy to promote. Before this, there was a wave of twists and turns in the cooperation of oil pipelines.
Sino-Russian crude oil pipelines have suffered numerous setbacks. As early as 1996, the leaders of China and Russia made major decisions on strengthening oil and gas strategic cooperation and building China-Russia crude oil pipelines. From the An-Da Line to the Anna Line to the Tyna Line, around the oil pipeline, China and Russia have launched an energy struggle that lasted 14 years.
In the context of the financial crisis, China and five countries have signed a cooperation model under the special background of “exchange for oilâ€. Once the global recovery recovers, whether this type of cooperation can exist or even become an oil trade. A new model?
Lin Boqiang said that it is not necessary to pay more attention to the issue of whether or not “change oil†can be converted from a mode to a mode because it was originally signed under the context of the financial crisis. Russia's lack of funds, but now crude oil prices rose from the original 45 US dollars a barrel to 90 US dollars, Russia has no worries about funding issues, we have to consider what is now negotiating gas pipeline agreement, what Russia is concerned about.
However, for China, no matter what it takes to change oil or natural gas, this is an uncontrollable factor, because iron ore is a good example of initiative.
In order to avoid certain risks, Lin Boqiang believes that alternative renewable energy sources, such as the development of new energy sources, should be found as soon as possible, but this requires the support of the state's policies. In the early stage of work, a lot of manpower and material resources should be invested in R&D and implementation.
Highlighting Central Asia, expanding Africa, expanding South America, strengthening the Middle East, and advancing the Asia-Pacific region are positions of China’s oil’s overseas energy strategy.
The "Financial Times" Lex column has unique insights on China's oil exchange strategy: from an economic point of view, China actually bought a large number of long-term commodity contracts.
As a big oil-consuming country, China’s diversification of energy imports is crucial to China’s energy security.
Liu Keyu believes that, objectively speaking, the three ways to purchase trade oil, direct foreign investment, or mergers and acquisitions, and “change oil†have their own advantages and their own limitations.
By contrast, “**change oil†can guarantee China's stable access to crude oil, and it will not have a major impact on the international market; it can also reduce the political risks in the “going out†process and obtain a stable energy supply. At the same time, it can also function as a diversified reserve investment.
By contrast, “**change oil†can guarantee China's stable access to crude oil, and it will not have a major impact on the international market; it can also reduce the political risks in the “going out†process and obtain a stable energy supply. At the same time, it can also function as a diversified reserve investment.
Newspaper reporter Wan Siqin/wen With the black crude oil flowing in the pipeline, the flow meter at the first station of the Mohe River in China began to churn. This made Yao Wei, general manager of China National Petroleum Corporation’s pipeline division excited.
At 11:50 on January 1st, Yao Wei issued a formal production and oil transfer order at the first station of Mohe River. The Sino-Russian crude oil pipeline in China's Inner Mongolia Mogao Line (Mohe-Daqing) immediately entered the transportation state.
This is China's use of new cooperation methods in return.
If China can quantify a country’s desire to control oil, China will undoubtedly come out on top. The British "Financial Times" Lex column wrote an article to position China's "***** for oil" considerations.
It is worth noting that since 2009, China has signed agreements with Russia, Venezuela, Angola, Kazakhstan, and Brazil for a total of 45 billion U.S. dollars in exchange for oil.
In the future, whether “change oil†can become a model is worthy of discussion in the industry.
The classic way of “exchanging oil†has officially entered the state of oil transmission with the Sino-Russian crude oil pipeline, and the Sino-Russian “exchange for oil†agreement has also gradually come into effect.
Liu Keyu, former vice president of the China National Petroleum Institute of Economics and Technology and Chinese energy expert, said in an interview with this reporter that as one of the four major channels for China’s oil and gas imports, China-Russia crude oil pipelines have been completed and put into operation to increase China’s energy supply and improve imports. The structure and promotion of economic development will play an important role.
Liu Keyu believes that in the context of the international financial crisis, this kind of cooperation is mainly a kind of support for China’s recovery of the economy by oil resource countries. Even if there is no China, the resource countries will still expand their oil exports to China.
China National Petroleum Corporation, one of China's largest oil and gas companies, is responsible for the construction and management of the pipeline.
The relevant person of China National Petroleum Corporation told this reporter that the large pipelines of China and Russia pass through 440 kilometers of primitive forests, 108 kilometers of permafrost, 11 large and medium-sized rivers, and 5 nature reserves.
According to reports, the Sino-Russian crude oil pipeline originates from Russia's Far East Crude Oil Pipeline Skoroodino distribution station, crosses the border of China, passes through Heilongjiang and Inner Mongolia, and ends at Heilongjiang Daqing Terminal. The total length of the pipeline is nearly 1,000 kilometers. By then, the northeastern pipeline It will become the largest crude oil pipeline in China, with a designed annual oil output of 15 million tons and a maximum annual output of 30 million tons.
At the same time, in Daqing Oilfield, China built 18 100,000 cubic meters of storage tanks for crude oil from Russia.
According to the "** oil exchange" agreement reached between the two countries last year, from January to 2030, that is, the next 20 years, China will receive 300,000 barrels of oil per day, with a total supply of 300 million tons.
The computer monitoring screen in the main control room of the Mohe first station shows that the crude oil delivery flow rate in Russia is about 2,100 cubic meters per hour. According to the plan, Russian crude oil will deliver 42,000 tons on the first day of opening, and 1.32 million tons in January.
Liu Keyu also told reporters that Russia’s crude oil pipeline to China’s Sino-Russian crude oil pipeline was formally put into commercial operation, not only marking the formal link of China's northeast crude oil import strategic direction, but also marking China’s oil “for oil exchangeâ€. The desired effect. It is now necessary to pay attention to the fact that, after the "***** oil exchange" agreement, ** has been implemented, and Russia's repayment of oil loans to China will have to be gradually implemented.
The Pros and Cons of "** Changing Oil" In fact, the operation of the Sino-Russian oil pipeline is only part of China's "** oil exchange" policy.
Since last year, the four major oil and gas import channels of the Central Asia natural gas pipeline, China-Russia crude oil pipeline, China-Myanmar oil and gas pipeline, and offshore LNG have formally formed.
On April 7, China and Venezuela implemented a 12 billion U.S. dollar oil joint venture. The commission promised to increase the daily oil supply to China from 300,000 barrels to 1 million barrels by 2013.
A month later on May 26, Petrobras and the China Development Bank signed a 10-year, $10 billion ** agreement, and finalized a 10-year crude oil long-term export agreement with Sinopec.
After six months, China’s three major oil companies have signed six cooperation agreements with Venezuela and will expand their investment plans in Venezuela to US$40 billion.
There are two voices in the industry for the "***** for oil" cooperation.
One is the main force, taking the Sino-Russian crude oil pipeline as an example. They believe that the Sino-Russian crude oil pipeline's grid connection and oil transmission will eventually take an important step towards the diversification of China's oil imports. Russian crude oil will also be an important supplement for Daqing Oilfield. The provision of a stable oil source for northeastern refineries will also be of great significance to our old industrial parks. One is the worrying faction. They believe that the increase in Russian oil export tax means that China will pay more for crude oil shipped through the China-Russia pipeline.
At present, China is in the mid-stage of industrialization. With the rapid development of the manufacturing industry and the rapid increase in energy for daily use, the consumption of crude oil and other energy resources will expand rapidly. In the past ten years, China’s oil production has increased by only 1.8% per year, but the growth rate of oil consumption has remained stable at more than 6%. The contradiction between supply and demand has been prominent, and the dependence on imported oil continues to increase.
According to statistics from the General Administration of Customs of China, in the first half of 2010, China imported a total of 118 million tons of crude oil, of which 8.69 million tons came from Russia, accounting for approximately 7.4%. With the opening of China-Russia crude oil pipelines, this proportion will increase. Russia is expected to join Saudi Arabia and Angola as China’s top three crude oil suppliers.
Lin Boqiang, director of the China Energy Economic Research Center at Xiamen University, pointed out that the huge oil production and location advantages of Russia and other oil-producing countries are of great significance for obtaining a stable supply of oil, which can effectively ease the pressure on supply and demand in the future and ensure the security of China's oil supply and demand.
"According to the agreement, in the next 15 to 20 years, China will provide petroleum products to the relevant countries in exchange for an annual supply of about 30 million tons of crude oil. '**Changing oil' can be said to both parties. Required.†Lin Boqiang thinks.
The data provided by China Customs shows that according to the current international crude oil price calculation, 15 million tons of crude oil will increase the trade volume between China and Russia by about 8 billion US dollars.
It is noteworthy that the recent rise in Russian crude oil export tariffs will impose restrictions on China.
It is understood that in November last year, the Russian oil export tax was 290.6 US dollars per ton. Due to rising oil prices, Russia’s oil export tax in December increased by 4.5% from November to 303.8 US dollars per ton.
According to the Xinhua News Agency, Russian Ministry of Finance officials said that since January 2011, the Russian crude oil export tax will increase from 303.8 US dollars per ton to 317.5 US dollars, up 4.5%.
Lin Boqiang emphasized that in addition to tariffs, there is still a risk of “exchanging oilâ€. Taking Russia’s oil exchange for example as an example, the price of oil is based on the price of Russian oil transported to Nakhodka port, and finally the floating price is finally determined. Mechanism, follow the market. After the financial crisis, the low price of the national oil has become the fundamental reason why the relevant countries are unwilling to sign long-term fixed oil prices. The recovery of the world economy in the future will certainly drive the recovery of oil prices in the entire international market. If the future oil price market fluctuates greatly, China’s oil exchange agreement will face a huge trade price risk.
As we all know, the cooperation between Sino-Russian oil is not so easy to promote. Before this, there was a wave of twists and turns in the cooperation of oil pipelines.
Sino-Russian crude oil pipelines have suffered numerous setbacks. As early as 1996, the leaders of China and Russia made major decisions on strengthening oil and gas strategic cooperation and building China-Russia crude oil pipelines. From the An-Da Line to the Anna Line to the Tyna Line, around the oil pipeline, China and Russia have launched an energy struggle that lasted 14 years.
In the context of the financial crisis, China and five countries have signed a cooperation model under the special background of “exchange for oilâ€. Once the global recovery recovers, whether this type of cooperation can exist or even become an oil trade. A new model?
Lin Boqiang said that it is not necessary to pay more attention to the issue of whether or not “change oil†can be converted from a mode to a mode because it was originally signed under the context of the financial crisis. Russia's lack of funds, but now crude oil prices rose from the original 45 US dollars a barrel to 90 US dollars, Russia has no worries about funding issues, we have to consider what is now negotiating gas pipeline agreement, what Russia is concerned about.
However, for China, no matter what it takes to change oil or natural gas, this is an uncontrollable factor, because iron ore is a good example of initiative.
In order to avoid certain risks, Lin Boqiang believes that alternative renewable energy sources, such as the development of new energy sources, should be found as soon as possible, but this requires the support of the state's policies. In the early stage of work, a lot of manpower and material resources should be invested in R&D and implementation.
Highlighting Central Asia, expanding Africa, expanding South America, strengthening the Middle East, and advancing the Asia-Pacific region are positions of China’s oil’s overseas energy strategy.
The "Financial Times" Lex column has unique insights on China's oil exchange strategy: from an economic point of view, China actually bought a large number of long-term commodity contracts.
As a big oil-consuming country, China’s diversification of energy imports is crucial to China’s energy security.
Liu Keyu believes that, objectively speaking, the three ways to purchase trade oil, direct foreign investment, or mergers and acquisitions, and “change oil†have their own advantages and their own limitations.
By contrast, “**change oil†can guarantee China's stable access to crude oil, and it will not have a major impact on the international market; it can also reduce the political risks in the “going out†process and obtain a stable energy supply. At the same time, it can also function as a diversified reserve investment.