PetroChina does not agree with the decentralization of refined oil pricing power to oil companies

Yesterday, China National Petroleum Corporation held an extraordinary general meeting of shareholders. After the meeting, CNPC Chairman Jiang Jiemin and President Zhou Jiping were interviewed by reporters and made rumors such as “Devolution of refined oil pricing power to oil companies” and “China’s oil companies’ acquisition of overseas losses” and hot issues such as Sino-Russian natural gas price negotiations. Respond. Turning to the view on the decentralization of refined oil pricing power, Jiang Jiemin and Zhou Jiping said unexpectedly that they did not support the decentralization of pricing power, but they supported the adjustment and improvement of the mechanism for the formation of refined oil prices.

With regard to the pricing power, “supporting the adjustment of refined oil price mechanism, it is not for enterprises to decide pricing power. Not to mention the two major groups (PetroChina, Sinopec) and the major groups cannot do this thing.” "Decentralization" said that Jiang Jiemin, chairman of CNPC, gave a very clear opposition yesterday.

The "decentralization of pricing of refined oil products" began in June this year. At that time, Lian Qihua, deputy director of the Department of Structural Reform of the National Development and Reform Commission, disclosed on the "2011 Intensive Work Conference on Deepening Economic System Reforms" that the new refined oil pricing Mechanisms and price reforms for resource products such as ladder prices will be launched during the year. Subsequent media reports said that in the discussion plan for adjusting the refined oil pricing mechanism, there is such a statement: When the international crude oil price is below 130 US dollars/barrel, the government may release refined oil products to PetroChina, Sinopec, and CNOOC. The right is priced by itself, and the third party oil price will be introduced as a reference price. This statement has become even worse.

Zhou Jiping, the president of PetroChina, told the reporter that the National Development and Reform Commission has indeed communicated with PetroChina, Sinopec, and CNOOC to rationalize the issue of refined oil pricing mechanism because the current pricing mechanism has shortcomings such as long time interval between price adjustments and being too transparent. “But as far as pricing power is concerned, Decentralized to oil-producing companies. In terms of CNPC, we do not think it is suitable at present."

Zhou Jiping explained that the current domestic prices of gasoline and diesel have not been adjusted and are still 18 US dollars less than the international oil price. This is because the overall economic situation in the country is facing a complicated situation, especially when inflation is high. If the pricing authority is decentralized, as an enterprise, the oil enterprises must inevitably raise their prices in accordance with the market rules, which will inevitably trigger a chain reaction.

Zhou Jiping believes that the current pricing mechanism should be perfected, and then at the right time to study the issue of decentralized pricing rights. “At present, from the actual national conditions, it is indeed necessary for the government to control (oil prices) to ensure market order and economy. The health development.” But he also said that as a major oil and gas producer and supplier, CNPC is responsible for market supply, and only if the petrochemical industry continues to develop healthily, can it better assume this responsibility, “If it continues to lose money, then It is not conducive to the implementation of this responsibility."

About oil pricing adjustment pricing mechanism does not support decentralized pricing You feel the same as I do for current oil prices, people still have doubts: At present, international oil prices have not reached new heights, but domestic gasoline and diesel prices have reached historical highs, even more than The oil prices in developed countries are still high.

On this issue, CNPC chairman Jiang Jiemin told reporters yesterday: “You feel like me. I am also a consumer. Many people feel right. However, we must consider that the price of domestic refined oil is currently Four parts: raw materials, processing, corporate profits, and government taxes."

Jiang Jiemin stated that the taxes and fees paid by CNPC this year are more than 300 billion yuan for stock companies and more than 400 billion yuan for the group. Among the taxes and fees that have been turned over, there are three taxes that exceed 100 billion yuan in taxes, namely VAT, special income and consumption tax. Taking consumption tax as an example, "consumption tax should be the taxes paid by consumers, and China is now implementing It is a producer's levy, so our refined oil prices include a consumption tax."

According to Zhou Jiping, the new resource tax will be implemented on November 1. According to the forecast, according to the international oil price of US$100/barrel, the annual resource tax to be paid by CNPC is about 29 billion yuan, which is 250 more than before. Billion, has a greater impact on the group.

However, the reporter learned from PetroChina that relevant departments are currently studying the issue of the special interest payment threshold. If they can adjust the threshold at an appropriate time, it will help balance the impact of resource taxes on oil companies.

With regard to overseas assets, there has been no loss for one year in the past. Before that, there were rumors that many Chinese oil and gas companies acquired overseas projects were at a loss. Talking about this issue, Jiang Jiemin said that CNPC’s overseas assets have not suffered losses for a year in 18 years. Although there are many unfavorable factors such as overseas wars and the European debt crisis this year, if there are no special circumstances, the profits of CNPC’s overseas business will reach a historic level. High position.

According to Jiang Jiemin, it is expected that CNPC’s overseas production this year will reach 100 million tons of oil and natural gas equivalents, and its equity production will reach 50 million tons. The sales income it achieves will hit a record high, and profits will reach historical highs. “China Petroleum’s overseas assets are It is good that PetroChina's overseas business is standing at a new starting point and will continue to develop in the coming years."

About Sino-Russian Natural Gas Negotiation and Purchasing A Reason With the recent visits to China by high-level political circles in Russia, the natural gas cooperation between China and Russia has once again received attention. Yesterday, Jiang Jiemin also first talked about the price differences between China and Russia in natural gas negotiations.

“The seller wants to be more expensive and the buyer wants to be cheaper. This is a good idea for us to go to the store to buy things. The current focus is here.” Jiang Jiemin said that both sides have difficulties now, because the price of natural gas between China and Russia is still involved. To two aspects: Russia needs to balance the price of natural gas exported to Europe, and China needs to balance the price of imported natural gas from Central Asia.

“Russia now exports 160 billion cubic meters of natural gas to Europe every year. If the price to China is lower than the European level, the part of natural gas exported to Europe will pose a big challenge. For China, now China is not only Imports from Russia also import natural gas from other countries. If the price given by Russia is higher than the import prices from other countries, then the challenge for China’s natural gas cooperation with other countries is enormous.” Jiang Jiemin said that although both parties have The prices are different, but Russia is rich in natural gas resources. Currently proven reserves rank first in the world, and China’s demand for natural gas has grown rapidly in recent years. On the one hand, China’s stable and huge market, on the other hand, is a resource-rich Russia, China and Russia. The natural gas cooperation between the two neighboring countries is inevitable. As long as the two sides adhere to the principle of complementing each other, equality and mutual benefit, and fair market, the ultimate problem will be solved. As for the time for the two parties to reach consensus, Jiang Jiemin said it is still difficult to draw conclusions.

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