As one of its promises made for its accession to the WTO, China is expected to open up its oil wholesale market by the end of 2006, after it deregulated the retail market in 2004. From May 23 to 24, 2006, our editoria...As one of its promises made for its accession to the WTO, China is expected to open up its oil wholesale market by the end of 2006, after it deregulated the retail market in 2004. From May 23 to 24, 2006, our editorial board, along with ARA, convened the international forum of "China’s Refined Oil Distribution and Retail Summit" in Beijing, with the support from the Business Reform Department under the Ministry of Commerce and the Energy Bureau of the NDRC. 150 delegates from big oil companies, research institutes, investment institutions, private enterprises and trades societies at home and abroad attended the forum. UK-based Global Energy Research Center chief economist Leo Drollas presented an introduction of the latest trends of development in the global oil products market. Market supervisors from BP, SK, India Oil Corporation and CNPC, along with veteran research personnel from Japan, France and China, shared with the delegates the experience of some countries in macro management over their deregulated oil products market and the operation strategies of some refined oil distributors, and exchanged their views on the issues related to the deregulation of the Chinese oil products wholesale market. The themes of the forum include thecharacteristics and development prospects of the Chinese oil products market, the evolution of the policies targeting the Chinese oil products market and how to develop the first-class refined oil retail enterprise.展开更多
As it promised for its entrance to the WTO, China will open upits wholesale market by the end of 2006, after having opened up itsoil product retail market at the end of 2004.. In this context, the oilproduct distribut...As it promised for its entrance to the WTO, China will open upits wholesale market by the end of 2006, after having opened up itsoil product retail market at the end of 2004.. In this context, the oilproduct distribution system of China and its related policies, needmassive adjustment.China’s enormous market and the huge potential as the world’ssecond largest oil consumer next to the USA, are catching the eyesof an increasing number of investors the world over. The global oilmajors, such as BP, Shell and Exxon Mobil, have penetratedChina’s oil product market and are seeking greater opportunitiesfor development. The regional oil companies in the neighboringcountries are also waiting for the right moment to get in. Beside theprivate domestic oil traders, CNOOC, SINOCHEM and CITIC arealso gearing up efforts for their entry into the market.For a better understanding of the problems existing in theChina’s oil product market and the trends of development, theIPE Editorial Department invited experts from the Law School,Jinan University, the Oil Product Marketing and Gas StationManagement Office under Beijing Petroleum ManagersTraining Institute, SINOCHEM Strategic Planning Departmentand CNPC Finance & Asset Department. These four were toanalyze the following nine problems: 1) What is the directionand objective of the reform and opening-up within the China’soil market? 2) How to evaluate the oil product pricingmechanism currently in practice in China? 3) How to improvethe China’s oil product pricing mechanism? 4) How big is thewholesale oil product market in China? 5) How high shouldthe threshold be and what impact it might have upon the newentrants. 6) What influence the threshold of accession to thewholesale market might have upon the upper-stream anddownstream segments of the industry chain. 7) Will theopening of the wholesale market bring a pattern change of theoil product market? 8) How to boost the reform and openingAup of the market? 9) Analysis of, and suggestions forcompetition strategies for the different players within themarket.展开更多
文摘As one of its promises made for its accession to the WTO, China is expected to open up its oil wholesale market by the end of 2006, after it deregulated the retail market in 2004. From May 23 to 24, 2006, our editorial board, along with ARA, convened the international forum of "China’s Refined Oil Distribution and Retail Summit" in Beijing, with the support from the Business Reform Department under the Ministry of Commerce and the Energy Bureau of the NDRC. 150 delegates from big oil companies, research institutes, investment institutions, private enterprises and trades societies at home and abroad attended the forum. UK-based Global Energy Research Center chief economist Leo Drollas presented an introduction of the latest trends of development in the global oil products market. Market supervisors from BP, SK, India Oil Corporation and CNPC, along with veteran research personnel from Japan, France and China, shared with the delegates the experience of some countries in macro management over their deregulated oil products market and the operation strategies of some refined oil distributors, and exchanged their views on the issues related to the deregulation of the Chinese oil products wholesale market. The themes of the forum include thecharacteristics and development prospects of the Chinese oil products market, the evolution of the policies targeting the Chinese oil products market and how to develop the first-class refined oil retail enterprise.
文摘As it promised for its entrance to the WTO, China will open upits wholesale market by the end of 2006, after having opened up itsoil product retail market at the end of 2004.. In this context, the oilproduct distribution system of China and its related policies, needmassive adjustment.China’s enormous market and the huge potential as the world’ssecond largest oil consumer next to the USA, are catching the eyesof an increasing number of investors the world over. The global oilmajors, such as BP, Shell and Exxon Mobil, have penetratedChina’s oil product market and are seeking greater opportunitiesfor development. The regional oil companies in the neighboringcountries are also waiting for the right moment to get in. Beside theprivate domestic oil traders, CNOOC, SINOCHEM and CITIC arealso gearing up efforts for their entry into the market.For a better understanding of the problems existing in theChina’s oil product market and the trends of development, theIPE Editorial Department invited experts from the Law School,Jinan University, the Oil Product Marketing and Gas StationManagement Office under Beijing Petroleum ManagersTraining Institute, SINOCHEM Strategic Planning Departmentand CNPC Finance & Asset Department. These four were toanalyze the following nine problems: 1) What is the directionand objective of the reform and opening-up within the China’soil market? 2) How to evaluate the oil product pricingmechanism currently in practice in China? 3) How to improvethe China’s oil product pricing mechanism? 4) How big is thewholesale oil product market in China? 5) How high shouldthe threshold be and what impact it might have upon the newentrants. 6) What influence the threshold of accession to thewholesale market might have upon the upper-stream anddownstream segments of the industry chain. 7) Will theopening of the wholesale market bring a pattern change of theoil product market? 8) How to boost the reform and openingAup of the market? 9) Analysis of, and suggestions forcompetition strategies for the different players within themarket.
