Здравствуйте. Вся информация этого сайта бесплатна. Вы можете сделать пожертвование и поддержать наше развитие. Спасибо.

Hello. All information of this site is free of charge. You can make a donation and support our development. Thank you.

2015-07-03 17:55:00

SHANGHAI OIL & GAS EXCHANGE

SHANGHAI OIL & GAS EXCHANGE

The country's first oil and gas exchange started trial operations on July 1, a move one expert said would promote market-oriented pricing of gas.

The exchange in Shanghai has registered capital of 1 billion yuan and 10 shareholders. State-run Xinhua News Agency has the largest stake – at 33 percent – followed by the country's Big Three oil and gas producers. China National Petroleum Corp. (CNPC), China Petrochemical Corp. Group and China National Offshore Oil Corp. each own 10 percent.

The National Development and Reform Commission, the country's top economic planner, and the National Energy Administration will supervise the exchange.

The exchange will offer two spot trading options, for pipeline natural gas and liquefied natural gas (LNG), during its two-month test run.

The exchange is a unified, market-oriented pricing mechanism based on supply and demand, said Tong Xiaoguang, an advisor to China National Oil and Gas Exploration and Development Corp., a subsidiary of CNPC.

The government has controlled the pricing of 60 percent of the natural gas sold in the country since it started market-oriented reforms in the southern province of Guangdong and southwestern region of Guangxi in 2011, said Wang Baowei, the NDRC's deputy secretary-general.

Market-oriented pricing is used only for resources such as offshore natural gas, LNG, coal-bed gas, shale gas and gas from coal, Wang said.

The government will continue to reform its pricing mechanisms, Wang said. The Big Three are still the country's major suppliers, and other suppliers of imported LNG, coal-bed gas and coal-to-gas fuel are still too small to influence prices, a situation that will hinder progress, he said.

The government started pricing domestically produced gas on the basis of oil and LNG prices in 2013.

english.caixin.com

Tags: CHINA, OIL, GAS

Chronicle:

SHANGHAI OIL & GAS EXCHANGE
2018, June, 22, 13:10:00

THE LARGEST VENEZUELA'S OIL

U.S. EIA - Venezuela holds the largest oil reserves in the world, in large part because of the heavy oil reserves in the Orinoco Oil Basin. In addition to oil reserves, Venezuela has sizeable natural gas reserves, although the development of natural gas lags significantly behind that of oil. However, in the wake of political and economic instability in the country, crude oil production has dramatically decreased, reaching a multi-decades low in mid-2018.

SHANGHAI OIL & GAS EXCHANGE
2018, June, 22, 13:05:00

U.S. DEFICIT UP FROM $116.1 BLN TO $124.1 BLN

U.S. BEA - The U.S. current-account deficit increased to $124.1 billion (preliminary) in the first quarter of 2018 from $116.1 billion (revised) in the fourth quarter of 2017, according to statistics released by the Bureau of Economic Analysis (BEA). The deficit was 2.5 percent of current-dollar gross domestic product (GDP) in the first quarter, up from 2.4 percent in the fourth quarter.

SHANGHAI OIL & GAS EXCHANGE
2018, June, 22, 13:00:00

EUROPE'S NUCLEAR INVESTMENT : €50 BLN

WNN - There are 126 operational power reactors in 14 EU Member States, providing more than one-quarter of the bloc's total electricity production. In its Communication on the Nuclear Illustrative Program (PINC) published last year, the European Commission expects nuclear to maintain its significant role in Europe's energy mix up to 2050. This would require investment of some EUR40-50 billion (USD46-58 billion) in nuclear LTO by 2050.

SHANGHAI OIL & GAS EXCHANGE
2018, June, 20, 13:15:00

OIL PRICE: ABOVE $75

REUTERS - Benchmark Brent crude LCOc1 was up 50 cents at $75.58 a barrel by 0835 GMT. U.S. light crude CLc1 was 50 cents higher at $65.57.

All Publications »