The Qiangtang Basin of the Tibetan Plateau,located in the eastern Tethys tectonic domain,is the largest new marine petroliferous region for exploration in China.The scientific drilling project consisting primarily of ...The Qiangtang Basin of the Tibetan Plateau,located in the eastern Tethys tectonic domain,is the largest new marine petroliferous region for exploration in China.The scientific drilling project consisting primarily of well QK-1 and its supporting shallow boreholes for geological surveys(also referred to as the Project)completed in recent years contributes to a series of new discoveries and insights into the oil and gas preservation conditions and source rock evaluation of the Qiangtang Basin.These findings differ from previous views that the Qiangtang Basin has poor oil and gas preservation conditions and lacks high-quality source rocks.As revealed by well QK-1 and its supporting shallow boreholes in the Project,the Qiangtang Basin hosts two sets of high-quality regional seals,namely an anhydrite layer in the Quemo Co Formation and the gypsum-bearing mudstones in the Xiali Formation.Moreover,the Qiangtang Basin has favorable oil and gas preservation conditions,as verified by the comprehensive study of the sealing capacity of seals,basin structure,tectonic uplift,magmatic activity,and groundwater motion.Furthermore,the shallow boreholes have also revealed that the Qiangtang Basin has high-quality hydrocarbon source rocks in the Upper Triassic Bagong Formation,which are thick and widely distributed according to the geological and geophysical data.In addition,the petroleum geological conditions,such as the type,abundance,and thermal evolution of organic matter,indicate that the Qiangtang Basin has great hydrocarbon-generating potential.展开更多
Natural gas is widely used because it is environmentally friendly,particularly in reducing carbon emission and improving the Air Quality Index(AQI)around densely populated cities.China has initiated a coal-to-gas proj...Natural gas is widely used because it is environmentally friendly,particularly in reducing carbon emission and improving the Air Quality Index(AQI)around densely populated cities.China has initiated a coal-to-gas project(CGP)to improve the air quality in northern China.As a subcompany of China National Petroleum Corporation,PetroChina Natural Gas Marketing North Company has been focusing on natural gas resource allocation while considering numerous issues such as ensuring the bottom line of livelihood requirements in winter and the performance of economic indicators for an entire calendar year in the northern part of China.Therefore,the accurate prediction of natural gas consumption is important to PetroChina Natural Gas Marketing North Company.It has become a challenge to forecast natural gas consumption because the natural gas market has changed considerably because of the CGP.Natural gas consumption cannot be forecasted using conventional models.This study analyzes the characteristics of the CGP based on the data obtained from rural individual users and company users.Based on the analysis,the gas consumption in winter is predicted using two different forecasting approaches.The methods presented in this paper provide a basis for formulating effective measures for natural gas scheduling in the northern part of China.展开更多
International oil and gas projects feature high capital-intensity, high risks and contract diversity. Therefore, in order to help decision makers make more reasonable decisions under uncertainty, it is necessary to me...International oil and gas projects feature high capital-intensity, high risks and contract diversity. Therefore, in order to help decision makers make more reasonable decisions under uncertainty, it is necessary to measure the risks of international oil and gas projects. For this purpose, this paper constructs a probabilistic model that is based on the traditional economic evaluation model, and introduces value at risk(VaR) which is a valuable risk measure tool in finance, and applies Va R to measure the risks of royalty contracts, production share contracts and service contracts of an international oil and gas project. Besides, this paper compares the influences of different risk factors on the net present value(NPV) of the project by using the simulation results. The results indicate:(1) risks have great impacts on the project's NPV, therefore, if risks are overlooked, the decision may be wrong.(2) A simulation method is applied to simulate the stochastic distribution of risk factors in the probabilistic model. Therefore, the probability is related to the project's NPV, overcoming the inherent limitation of the traditional economic evaluation method.(3) VaR is a straightforward risk measure tool, and can be applied to evaluate the risks of international oil and gas projects. It is helpful for decision making.展开更多
Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.F...Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.Foreign oil companies might change their unfavorable negotiating position by changing the order of bidding and adjusting bidding strategies.This paper introduces both factors into a bilateral bargaining model to study the impact of information asymmetry and bidding order on the strategy and equilibrium returns of oil companies.According to the ownership of the right to bid first,two scenarios are designed for the model to compare the equilibrium returns of the host country and oil companies.The results show that:1)There is a first-mover advantage in the process of bilateral bidding,so oil companies better bid first;2)The information asymmetry will lead to a higher nominal income ratio of oil companies and a lower nominal income ratio of the host country,but it doesn’t affect the total income ratio at all.展开更多
To treat the relationship between project construction and ecological environment and effectively prevent new soil erosion during the construction, according to the project layout, soil erosion distribution as well as...To treat the relationship between project construction and ecological environment and effectively prevent new soil erosion during the construction, according to the project layout, soil erosion distribution as well as natural and socio-economic conditions, the control measures of newly increased soil erosion along the project were carried out based on site survey and analysis of relevant information. In addition, adhering to the prin- ciple of partition prevention and treatment, some guiding prevention and control measures of the natural zone passed by the project and soil erosion control district were determined, which provided scientific references and technical support for the rational layout of water and soil conservation and ecological restoration measures in Dina 2 gas field.展开更多
On July 4 2002, a project attracting world attention, i.e., the West-East Gas Pipeline Project was declared in full-scale commencement. The project will write history with its enormous social and economic benefits.
基金funded by projects of the National Natural Science Foundation of China(91955204,42241202)the Second Tibetan Plateau Scientific Expedition and Research(2019QZKK080301)a project entitled Tectonics,Sedimentation,Evolution,and Basic Petroleum Geology of the Qiangtang Basin(2021DJ0801)of the Forward-looking Basic Subjects of PetroChina’s 14th Five-Year Plan.
文摘The Qiangtang Basin of the Tibetan Plateau,located in the eastern Tethys tectonic domain,is the largest new marine petroliferous region for exploration in China.The scientific drilling project consisting primarily of well QK-1 and its supporting shallow boreholes for geological surveys(also referred to as the Project)completed in recent years contributes to a series of new discoveries and insights into the oil and gas preservation conditions and source rock evaluation of the Qiangtang Basin.These findings differ from previous views that the Qiangtang Basin has poor oil and gas preservation conditions and lacks high-quality source rocks.As revealed by well QK-1 and its supporting shallow boreholes in the Project,the Qiangtang Basin hosts two sets of high-quality regional seals,namely an anhydrite layer in the Quemo Co Formation and the gypsum-bearing mudstones in the Xiali Formation.Moreover,the Qiangtang Basin has favorable oil and gas preservation conditions,as verified by the comprehensive study of the sealing capacity of seals,basin structure,tectonic uplift,magmatic activity,and groundwater motion.Furthermore,the shallow boreholes have also revealed that the Qiangtang Basin has high-quality hydrocarbon source rocks in the Upper Triassic Bagong Formation,which are thick and widely distributed according to the geological and geophysical data.In addition,the petroleum geological conditions,such as the type,abundance,and thermal evolution of organic matter,indicate that the Qiangtang Basin has great hydrocarbon-generating potential.
基金supported by the National Natural Science Foundation of China (No. 51504271)
文摘Natural gas is widely used because it is environmentally friendly,particularly in reducing carbon emission and improving the Air Quality Index(AQI)around densely populated cities.China has initiated a coal-to-gas project(CGP)to improve the air quality in northern China.As a subcompany of China National Petroleum Corporation,PetroChina Natural Gas Marketing North Company has been focusing on natural gas resource allocation while considering numerous issues such as ensuring the bottom line of livelihood requirements in winter and the performance of economic indicators for an entire calendar year in the northern part of China.Therefore,the accurate prediction of natural gas consumption is important to PetroChina Natural Gas Marketing North Company.It has become a challenge to forecast natural gas consumption because the natural gas market has changed considerably because of the CGP.Natural gas consumption cannot be forecasted using conventional models.This study analyzes the characteristics of the CGP based on the data obtained from rural individual users and company users.Based on the analysis,the gas consumption in winter is predicted using two different forecasting approaches.The methods presented in this paper provide a basis for formulating effective measures for natural gas scheduling in the northern part of China.
基金supported by the Young Fund of Shanxi University of Finance and Economics(No.QN-2018002)National Natural Science Foundation of China(No.71774105)the Fund for Shanxi Key Subjects Construction(FSKSC)and Shanxi Repatriate Study Abroad Foundation(No.2016-3)
文摘International oil and gas projects feature high capital-intensity, high risks and contract diversity. Therefore, in order to help decision makers make more reasonable decisions under uncertainty, it is necessary to measure the risks of international oil and gas projects. For this purpose, this paper constructs a probabilistic model that is based on the traditional economic evaluation model, and introduces value at risk(VaR) which is a valuable risk measure tool in finance, and applies Va R to measure the risks of royalty contracts, production share contracts and service contracts of an international oil and gas project. Besides, this paper compares the influences of different risk factors on the net present value(NPV) of the project by using the simulation results. The results indicate:(1) risks have great impacts on the project's NPV, therefore, if risks are overlooked, the decision may be wrong.(2) A simulation method is applied to simulate the stochastic distribution of risk factors in the probabilistic model. Therefore, the probability is related to the project's NPV, overcoming the inherent limitation of the traditional economic evaluation method.(3) VaR is a straightforward risk measure tool, and can be applied to evaluate the risks of international oil and gas projects. It is helpful for decision making.
基金the financial support provided by the Humanities and Social Sciences Program of Chinese Ministry of Education(Grant Nos.19YJCZH106 and 20YJCZH201)National Natural Science Foundation of China(Grant Nos.71904111 and 71774105)Program for the Philosophy and Social Sciences Research of Higher Learning Institutions of Shanxi(Grant No.201803079,2nd[2018]of Jin Education)。
文摘Bargaining between the host country and oil companies is very common to international oil and gas development projects.The existence of information asymmetry gives the host country an endogenous bargaining advantage.Foreign oil companies might change their unfavorable negotiating position by changing the order of bidding and adjusting bidding strategies.This paper introduces both factors into a bilateral bargaining model to study the impact of information asymmetry and bidding order on the strategy and equilibrium returns of oil companies.According to the ownership of the right to bid first,two scenarios are designed for the model to compare the equilibrium returns of the host country and oil companies.The results show that:1)There is a first-mover advantage in the process of bilateral bidding,so oil companies better bid first;2)The information asymmetry will lead to a higher nominal income ratio of oil companies and a lower nominal income ratio of the host country,but it doesn’t affect the total income ratio at all.
文摘To treat the relationship between project construction and ecological environment and effectively prevent new soil erosion during the construction, according to the project layout, soil erosion distribution as well as natural and socio-economic conditions, the control measures of newly increased soil erosion along the project were carried out based on site survey and analysis of relevant information. In addition, adhering to the prin- ciple of partition prevention and treatment, some guiding prevention and control measures of the natural zone passed by the project and soil erosion control district were determined, which provided scientific references and technical support for the rational layout of water and soil conservation and ecological restoration measures in Dina 2 gas field.
文摘On July 4 2002, a project attracting world attention, i.e., the West-East Gas Pipeline Project was declared in full-scale commencement. The project will write history with its enormous social and economic benefits.
