利用“纸成品油”管理石油产业链价格风险研究

Study on Management of Price Risk in Oil Industry Chain with “Paper Oil”

国际原油价格频繁波动,且国内成品油现有定价机制相对滞后,石油产业需要对石油价格的风险管理模式与销售业务模式进行升级再造。在此背景下,我国证券公司与成品油生产及销售企业可以开展合作,开发"纸成品油"产品,旨在为石油产业链上相关方及终端客户提供提前锁定成品油价格的风险管理或消费金融方案,形成终端消费者、石油产业链上下游及券商等相关各方共赢共利的局面,有效服务实体经济。该产品亦可与"互联网+"相结合,对接消费金融场景。文章详细介绍了"纸成品油"产品的设计背景、运作模式、成品油管理与风险控制等。

In view that the international crude oil prices fluctuate frequently, and the existing pricing mechanism of domestic refined oil is lagging behind, it is necessary to upgrade and revise the risk management mode of oil price and sales business model in petroleum industry. In this context, China＇ s securities companies and oil production and sales enterprises can cooperate to develop ＂ paper oil＂ products, aiming to provide risk management or consumption financial programs for stakeholders in the oil industry chain and end customers through locking the price of refined oil product in advance, so as to realize a win - win situation for all stakeholders as end customers, related parties in upstream and downstream of the industry chain, and securities companies, and serve for the real economy more effectively. The product can also be combined with ＂Internet ＋ ＂ for docking consumer financial scenes. The designing background, operation mode, product oil management and risk control of ＂paper oil＂ product were introduced in details.