Most popular PetroChina postpones overseas expansi

2022-08-19
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PetroChina suspended overseas expansion. Executives said that "it is not a good time for mergers and acquisitions"

the high international crude oil price not only made PetroChina (601857, SH), China's largest listed oil company, lose 6.1 billion yuan in refining in the first quarter, but also affected the pace of its overseas acquisition and expansion

on May 18, jiangjiemin, chairman of PetroChina, revealed in an interview with the daily economy on the sidelines of the general meeting that when international energy prices are too high, it is not a good time for mergers and acquisitions. However, he said that during the next "12th Five Year Plan" period, PetroChina's overseas cooperation will focus on five cooperation zones in Central Asia, the Middle East, Africa, South America and the Asia Pacific. The "12th Five Year Plan" has set the goal of achieving 200 million tons of oil and gas equivalent for overseas and domestic operations

as for domestic natural gas prices, Jiang Jiemin said that domestic natural gas prices should be in line with international standards, and price adjustment and price mechanism must be combined

overseas oil and gas production accounted for 50% in five years

since this year, there has been little news that PetroChina has participated in overseas oil and gas acquisition projects

"when the price of energy products is high, it is not a good time to do overseas projects." Jiang Jiemin said<2. The pressure sensor is converted into an electrical signal and transmitted to the experimental force measurement system/p>

this is the first time that Jiang Jiemin has stated that high oil prices will affect the mergers and acquisitions of overseas projects after the international crude oil price hit a new high this year and the sales price increased slightly

Zhou Jiping, vice chairman and President of PetroChina, believes that the international oil price will fluctuate at a high level around $95, and the global oil supply will show a situation of "supply slightly less than demand" in the second half of the year

Jiang Jiemin said that it has fundamentally and effectively solved the shortcomings of Pu stadium materials in terms of professional performance, environmental protection construction, service life, ordinary protection, etc. the political turmoil in West Asia and North Africa does not affect the adjustment of PetroChina's oil and gas strategy. There is no need for the company to adjust, and there is a complete risk assessment before entering

Jiang Jiemin revealed that overseas business is still the focus of PetroChina's "12th Five Year Plan", mainly concentrated in Central Asia, the Middle East, Africa, South America and the Asia Pacific oil and gas cooperation zone, involving upstream cooperation, pipeline, oil refining overseas cooperation

Jiang Jiemin said that in order to improve the influence of PetroChina in crude oil pricing, the company will establish three overseas operation centers in Asia Singapore, Europe London and America New York respectively. The next step will be to establish storage and transportation facilities in the Caribbean based on South American oil and gas cooperation

he said that the company's overseas target set at the end of the 12th Five year plan was to achieve an operating output of 200 million tons of oil and gas equivalent; At that time, the company's total oil and gas output will reach 400 million tons of oil and gas equivalent, that is, China's domestic and overseas oil and gas output will reach 200 million tons respectively

"the current resource base is very good. If we develop the existing resources, we can realize the plan." Jiang Jiemin said

while increasing the production of crude oil and natural gas, PetroChina also plans to vigorously promote oil and gas trading business. He revealed that in 2010, PetroChina completed oil and gas trade of up to 200 million tons through three trading centers in Singapore, New York and London, with a value of $100billion. He also predicted that these two figures would double by 2015

the price of natural gas should be in line with international standards

at present, the proportion of natural gas in China's primary energy consumption structure is less than 4%, far lower than the international average of more than 20%. During the 12th Five Year Plan period, PetroChina will also focus on the development of natural gas business, and strive to achieve that natural gas accounts for 50% of the oil and gas equivalent at the end of the 12th Five Year Plan period, so that the coating of plastic substrate can be cured quickly

"technical conditions and commercial terms have basically formed a consensus." Jiang Jiemin revealed the latest progress of China Russia natural gas cooperation negotiations. At present, the focus is on promoting the western route. China hopes to promote the eastern route and the western route at the same time, and hopes that the eastern route can make a breakthrough, because the markets of China, Japan and South Korea are more mature

Jiang Jiemin believes that domestic natural gas production cannot meet current demand. Therefore, there must be two markets and two resources. Importing natural gas from Central Asia and other regions will be a priority in the future

Jiang Jiemin said that compared with the oil price, the natural gas price of PetroChina is only equivalent to 30% of the oil price, while the international average is 60%

he said that since the imported natural gas adopts the international market price, the domestic natural gas price should be in line with the international market, and the price adjustment and price mechanism must be combined. "When to introduce pricing policies, government departments need to seize the opportunity"

Zhou Jiping said that the company's oil refining business lost 6.132 billion yuan in the first quarter, which was objectively caused by two reasons: the domestic oil price of finished products was not in place and the crude oil price was too high

subjectively, PetroChina will respond by strengthening the refined management of oil refining business and optimizing the layout of oil refining business (increasing the construction of coastal refineries)

Jiang Jiemin introduced that based on historical reasons, PetroChina's refining layout is mainly concentrated in the northeast and northwest, but the demand market is mostly in East China and the coast. PetroChina will strengthen the construction of coastal refineries in the future

last year, PetroChina has built a 10 million ton large-scale refinery in Guangxi, and the 12th Five year plan actively promotes the construction of refineries in Guangdong and Zhejiang

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