The hottest oil reserves are facing a short board.

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The National Bureau of Statistics recently announced the details of China's strategic oil reserves for the first time. Experts believe that this shows the desire of the Chinese government to participate in global energy governance, but there are still urgent problems such as the lack of relevant laws in the construction of China's oil reserve system -

under the background of the sharp decline of international oil prices by more than 30% in the past few months, a news about China's national oil reserves has attracted widespread attention

the National Bureau of Statistics recently announced that the first phase of the national petroleum reserve project has been completed, with 12.43 million tons of crude oil stored in four national petroleum reserve bases. This is regarded as the first time that China has announced the details of strategic oil reserves

previously, China's strategic oil reserves were regarded as top secret information and had not been released to the public

the non disclosure and non transparency of data, on the one hand, is very likely to cause the sharp decline of oil prices in the international market, on the other hand, it is not conducive to countries to jointly deal with speculation in the energy market

Lin Boqiang, director of the China Energy Economy Research Center at Xiamen University, believes that the release of the data shows the Chinese government's desire to participate in global energy governance

however, in the view of experts, there are still many problems in the construction of China's oil reserve system, which must be improved by increasing "horsepower"

the concept of pursuing figures is of little significance

oil reserves refer to the total inventory of all crude oil and major products maintained by the government, private institutions and oil enterprises. A perfect strategic oil reserve system can timely alleviate the fragile supply-demand relationship of global energy, and timely avoid the frequent fluctuations in the oil market and the high volatility of international oil prices

China's oil reserve work began to brew in 1993, but it was really put on the agenda after the establishment of the national oil reserve center in 2007. At that time, China's dependence on foreign oil had reached 50%. Compared with the start of developed countries in 1973, China's oil reserve construction is quite late

after the data of the phase I project was released, whether the reserve of 12.43 million tons was more or less instantly became a topic of concern. British media pointed out that the total amount of oil storage in the four reserve bases of China's National Petroleum Reserve phase I project is equivalent to about nine days of consumption. For a time, the speech that the oil reserve capacity seriously lagged behind came out one after another

in fact, this does not really represent China's total oil reserves. Pangchangwei, director of the international petroleum politics research center of China University of Petroleum (Beijing), said that the second phase of the oil reserve project has also been completed and oil storage has begun. In 2015, according to Lin Boqiang's estimation, China's total oil reserves have been equivalent to more than 70 days of consumption

however, according to dongxiucheng, deputy dean of the school of Business Administration of China University of petroleum, it is not of great significance for China to investigate the concept of numbers. "The measurement of days is applicable to western countries with relatively stable oil consumption. China's oil consumption rises rapidly and will vary greatly every year. It is of little significance to measure by days."

private reserves are a weakness

in the past few months, the international oil price has fallen sharply by more than 30% now. In the view of experts, this is a good time to carry out oil reserves

however, compared with the temptation brought by low collection and storage prices, the problem of insufficient construction of oil reserve bases seems to be more serious

it is understood that China's phase III oil reserve base is under construction and is expected to be completed in 2020. And this may miss a good time for collection and storage

under such a premise, pangchangwei said that private reserve capacity must be used, such as renting private funded oil tanks

in fact, as early as 2010, the National Petroleum Reserve Center held bid opening for the qualification of social storage capacity for national oil storage, and three private enterprises were shortlisted. This is regarded as the first time that the door of the national oil reserve system is opened to private oil enterprises

however, the participation of the three private enterprises is not ideal, and they have won the bid for a year but have not seen "half a drop of oil"

"China's private capital has a collection and storage capacity of 200 million tons. If this part of resources is not mobilized and involved in oil collection and storage, it is a waste." Treasure Island analyst Xi Jiarui said

in fact, "oil is stored for the people" has become the main source of oil reserves in various countries. Relevant data show that the oil reserves of domestic enterprises in the United States, which accounts for the largest oil reserves in the world, far exceed the government reserves. Take 2009 as an example, the oil reserves of the United States are equivalent to 150 days of imports, of which the government reserves are 53 days of imports, accounting for only 1/3

in China, oil storage by private enterprises is also regarded as an important part of the future oil reserve system. In June this year, the energy development strategic action plan (year) issued by the general office of the State Council proposed to encourage private capital to participate in the construction of oil reserves, establish voluntary reserves for enterprises, and encourage the development of commercial reserves

it is urgent to make up for the lack of law

an expert who did not want to be named revealed to me that the reason why private capital is difficult to participate in the construction of the reserve system is closely related to the lagging construction of China's oil reserve legal system. "The relevant procedures, regulations and support policies for participation are not clear, and the risk is high."

according to the Convention, before the construction of the oil reserve system, corresponding legislation must be made to specifically define the problems encountered in the process of establishing the system. This is true in most countries such as the United States, Japan and Germany

however, dating back to the construction of the first phase of China's oil reserve project, due to the extremely severe oil security situation, the construction of the reserve base preceded the construction of the legal system. So far, the corresponding legal system has been delayed

Dong Xiucheng said that the main body of oil reserve strategy, management system, source of funds and conditions for reserve utilization are not clear, and this inverted model causes great problems in the construction of China's oil reserve system

in 2007, the regulations on the administration of national petroleum reserves was once hot. The industry hopes to make up for the gaps and deficiencies in the law of oil reserves through the introduction of the regulations, but so far the regulations have not been promulgated

now, the operation data of the first batch of oil reserve bases have been released, and the second batch has been basically completed. Experts said that a series of institutional issues related to legislation, supervision and market operation must be quickly clarified

in dongxiucheng's view, the lack of law is the biggest problem facing the construction of the oil reserve system

Professor Liu Yijun of China University of petroleum also holds the same opinion. "The construction of oil reserve system is not only related to reserves." Liu Yijun said that relevant laws and regulations are urgently needed on how to make the reserve system work, how to effectively make up for the cost of oil storage, and how to connect with the market in the later stage

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