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

USEUROPEAFRICAASIA 中文雙語Fran?ais
Business
Home / Business / Industries

'Dramatic changes ahead for SOEs'

China Daily | Updated: 2016-12-02 08:19

'Dramatic changes ahead for SOEs'

A Sinopec employee records statistics at Shengli Oilfield, Shandong province. [Photo/Xinhua]

China's biggest state-owned companies will see "dramatic changes" in the next few years as they will have to downsize and become more efficient, according to the former chairman of two of the country's biggest producers.

Chinese oil companies have "tremendous room" to improve efficiency and will be "suffering for the next few years" amid the oil crash that has pushed prices down to roughly half their value from mid-2014, said Fu Chengyu, former chairman of both Cnooc Ltd and China Petroleum & Chemical Corp, known as Sinopec. Domestic producers need at least $60 a barrel to stabilize China's slumping oil production, he said.

"We are a big elephant already," Fu said in New York City on Tuesday at Columbia University's Center on Global Energy Policy. "If we don't move faster, reform ourselves faster, we will become a dinosaur."

China's explorers have been hit hard by the slump in international crude oil prices because of production costs inflated by large work forces and mature domestic resources. Output from the world's second-biggest consumer has slid this year as the country's producers shut fields that are too expensive to operate at current prices, forcing the country to seek more oil from overseas.

'Dramatic changes ahead for SOEs'

Fu Chengyu, former chairman of both Cnooc Ltd and China Petroleum& Chemical Corp. [Photo provided to China Daily]

PetroChina Co, the country's biggest oil and gas producer, barely broke even in the first-half, even after booking a 24.5 billion yuan ($3.56 billion) one-time gain from pipeline sales. Cnooc Ltd., the biggest offshore explorer, posted a first half loss as low crude prices forced it to write down assets. Sinopec, the world's biggest refiner, posted a profit in the first three quarters this year, thanks to its oil-refining business, which benefits from low crude prices.

Fu retired as Sinopec's chairman in May 2015 after working in China's oil industry for almost four decades, including serving as Cnooc's chairman. Fu was one of the first state-owned enterprise chairmen to start mixed-ownership reform by selling 30 percent of Sinopec's retail division to outside investors for $17.5 billion in 2014.

China's crude production from January to October fell 6.7 percent from a year ago to 166.8 million metric tons, according to data from the National Bureau of Statistics last month. October crude output dropped 11.3 percent to 16.05 million tons, or about 3.795 million barrels a day, down 2.7 percent from September.

Firing employees is not an option "either legally or culturally", Fu said.

Bloomberg

Most Viewed in 24 Hours
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 在线精品国产 | 国产精品久久久久久久专区 | 亚洲一级毛片免费观看 | 日韩欧美一级毛片精品6 | 黄色一级a毛片 | 亚洲国产老鸭窝一区二区三区 | 亚洲一区二区三区四区 | 黄色美女毛片 | 天天看有黄有色大片 | 日韩a一级欧美一级 | 日韩激情中文字幕一区二区 | 欧美日韩人成在线观看 | fefe66免费毛片你懂的 | 久久久网久久久久合久久久久 | 久久精品久久久 | 免费看成人毛片日本久久 | 久久99精品久久久久久久不卡 | 99视频精品| 手机看片av| 国产精品亚洲一区二区三区久久 | 99九九成人免费视频精品 | 牛人盗摄一区二区三区视频 | 国产精品欧美一区二区 | 亚洲欧美日韩一区 | 免费一级特黄特色黄大任片 | 成年人网站在线观看视频 | 高清国产美女一级a毛片录 高清国产亚洲va精品 | 一级毛片aaa片免费观看 | 性久久久久久久久久 | 欧洲一级片 | 一本色综合 | 国产成人综合洲欧美在线 | 欧美特级 | 99免费精品视频 | 日韩国产在线观看 | 国产一区a | 在线免费观看欧美 | 99在线视频免费 | 久久久久久久性潮 | 一级片免费在线播放 | 天堂视频在线免费观看 |