www射-国产免费一级-欧美福利-亚洲成人福利-成人一区在线观看-亚州成人

US EUROPE AFRICA ASIA 中文
Business / Industries

Private firm Guanghui gets oil import license

By DU JUAN (China Daily) Updated: 2014-08-29 07:06

Private firm Guanghui gets oil import license

Oil is unloaded from a tanker at a port in Zhoushan, Zhejiang province. China imported 282 million tons of crude in 2013. [Photo/China Daily]

Move seen as sign of government's willingness to break up monopoly

Share prices of Guanghui Energy Co jumped by the daily limit of 10 percent on Thursday to 8.98 yuan ($1.46) after the private firm was granted a crude oil import license on Wednesday, a move that echoes the government's efforts to break the monopoly in the oil market.

Xinjiang Guanghui Petroleum Co Ltd, a wholly owned subsidiary of Guanghui Energy, was granted an import quota of 200,000 metric tons of crude oil for 2014, becoming the first private company to obtain such a license, according to a regulatory filing to the Shanghai Stock Exchange late on Wednesday.

"The new approval of the crude import rights to the company will help it participate in the oil market, which has been dominated by Sinopec Group and PetroChina Co since 1998," said Han Jingyuan, an energy analyst at JYD Online Corp, a Beijing-based bulk commodity consultancy.

As the world's second-largest oil consumer, China has strict regulations on crude imports. It divides companies in two groups: The five State-owned companies-PetroChina Co Ltd, Sinopec, CNOOC Ltd, Sinochem Corp and Zhuhai Zhenrong Corp-have no limits on crude imports; 22 other companies, with import licenses, are given rights to import crude via a quota system.

In 2013, China imported 282 million tons of crude, with the second group accounting for only 29.1 million tons, its maximum quota.

The government has recently made moves to be more open to private investors as part of the country's energy industry reform.

Xinjiang Guanghui Petroleum became the first private company to receive a crude import license because of its overseas oil assets, Han said.

The company acquired a 49 percent stake in Kazakhstan-based Tarbagatay Munay LLP, or TBM, in 2009, thus gaining indirectly a 49 percent stake in the Zaysan oilfield owned by TBM.

The Zaysan oilfield is expected to have an annual production capacity of 500 million to 600 million cubic meters of natural gas and about 1 million tons of thick oil, according to ICIS C1 Energy, a Shanghai-based energy information consultancy.

Xinjiang Guanghui Petroleum signed an agreement in 2012 with Kazakhstan to acquire another oilfield with expected crude reserves of 210 million tons, according to ICIS C1 Energy.

Li Li, research and strategy director at ICIS C1 Energy, said the oil import license can bring approximately 1 billion yuan annually in sales revenue to Xinjiang Guanghui Petroleum.

"However, it is still a long way from breaking the monopoly since the volume is too small compared with China's total crude imports," Li said. "The 200,000 tons of crude are just a drop in the bucket for refineries."

Since Xinjiang Guanghui Petroleum has no refineries in China, it will be allowed to sell the imported crude oil to qualified domestic refineries.

Many other companies are preparing to invest in related energy businesses in order to obtain crude import licenses.

An industry expert close to the National Energy Administration said the authorities are tending to grant the licenses to private companies that already own overseas oilfield assets and large-scale refining companies.

Private firm Guanghui gets oil import license Private firm Guanghui gets oil import license
Industrial gas prices to increase by 20% 
Top 10 oil giants by output in the world 

Hot Topics

Editor's Picks
...
...
主站蜘蛛池模板: 精品伊人久久久久7777人 | 久久不卡日韩美女 | 国产成人一级 | www日本com | 日韩免费a级在线观看 | 日韩在线看片中文字幕不卡 | 国产一级强片在线观看 | 久久国内精品自在自线软件 | 亚洲一区二区三区精品影院 | 成年人免费在线视频观看 | 美国毛片一级视频在线aa | 韩日黄色片 | 欧美另类69xxxxx 视频 | 欧美国产日韩在线观看 | 特级aa一级欧美毛片 | 国产成人亚洲精品无广告 | 性欧美巨大的视频 | 王朝影院一区二区三区入口 | a一级网站 | 久久精品国产亚洲7777小说 | 特黄的欧美毛片 | 国产美女精品三级在线观看 | 久久精品国产免费看久久精品 | 日本精品一区二区三区在线视频一 | 亚洲三级a | 97在线公开视频 | 99这里只有精品视频 | 一级毛片免费不卡夜夜欢 | 国产亚洲精品久久久久久久久激情 | 亚洲在线播放 | 国产精品综合一区二区 | 国产精品视频久久久久 | 日韩一区在线播放 | 久草免费资源在线 | 久久中文亚洲国产 | 毛片免费在线播放 | 一级国产视频 | 亚洲欧洲日韩在线 | 九色视频在线观看免费 | 五月色婷婷综合开心网4438 | 亚洲免费高清视频 |