The recent international crude oil prices in the market for the cut agreement may be extended for 9 months optimistic expectations of speculation in the atmosphere continued to rise, in addition, both US crude oil inventories and production are also reduced to provide upward support for oil prices, crude oil futures prices rose sharply last week The The week has more oil-producing countries agreed to extend the deadline for the agreement, and Saudi Arabia and Russia issued a joint statement that the two countries will extend the cut-off period of 9 months to reach a consensus on the market, the market is expected to delay the expected bullish expectations , To provide upward support for oil prices. Affected by this, the current rate of change in the positive range of continuous extension.

According to the calculation of the United States, as of May 18, the fifth working day, the reference price of crude oil varieties of 50.16 US dollars / barrel, the rate of change of 1.86%, the corresponding retail price of gasoline and diesel should be raised 65 yuan / ton, May 24 at 24 o’clock. Late international oil prices will remain volatile trend, the rate of change is relatively small range of operation, the current retail price adjustment remains variable.

According to the calculation of the United States, as of May 18, the fifth working day, the reference price of crude oil varieties of 50.16 US dollars / barrel, the rate of change of 1.86%, the corresponding retail price of gasoline and diesel should be raised 65 yuan / ton, May 24 at 24 o’clock. Late international oil prices will remain volatile trend, the rate of change is relatively small range of operation, the current retail price adjustment remains variable.

From the domestic market point of view, the beginning of the week in the retail price cut driven by the domestic gasoline and diesel prices with the fall, but the previous market has digested some of the decline, so the rate is relatively limited. Part of the low inventory users docile appropriate cover short positions, the market showed a temporary pick up. After the crude oil prices continue to close up, the rate of change is extended to the range, the news side support fade. And some of the main sales ahead of the completion of the task, so take the opportunity to tentatively push up, which due to early diesel prices fell to a low, the rebound rate is relatively obvious. At the same time, the downstream user stocking operations are completed one after another, and a short period of time the final lack of significant positive boost, the industry re-market stocking will be low, the market buying and selling atmosphere gradually slowed down.

From the retail point of view, the recent domestic gasoline and diesel wholesale prices fell back up, the retail price has honored the biggest decline in the year, so the wholesale and retail prices narrowed sharply. According to Jinlianchong monitoring data show that as of Thursday (May 18), the domestic gasoline retail sales of 1799 yuan / ton, down 235 yuan / ton; diesel theoretical retail profit of 1352 yuan / ton, Down 272 yuan / ton on Thursday. In the latter part, the retail price adjustment is still suspense, the domestic refined oil market or continue to organize the trend, is expected next week, domestic gasoline and diesel wholesale and retail price difference or limited volatility.

Into next week, the international oil prices or continuation of the shock pattern, the rate of change continued to range fluctuations, the current round of retail prices rose slightly with the probability of stranded coexistence, the news face market support efforts are limited. The recent increase in gasoline consumption, coupled with the next week coincides with the Dragon Boat Festival holiday, the market after a period of time after the consumption of the industry have replenishment demand, but low-end resources are still flooding the market, the main shipments difficult to significantly improve. Diesel demand is still flat, environmental issues under pressure on the terminal mining, infrastructure and other outdoor oil business operating rate is limited, a certain degree of inhibition of diesel sales higher. Next week will enter the end of the month, most of the main units to catch up with the main sales tasks, but the social stock is more abundant, under the pressure of major shipments still maintain a large preferential efforts. From the supply side of the domestic main refinery maintenance is limited and the refining rate was sharply higher, the market supply pressure or continued overweight. Overall, the news and supply and demand fundamentals are difficult to find a good support, is expected next week, the domestic refined oil market or will enter the finishing stage, with the holiday near the market or usher in a wave of replenishment tide.

Zhongyuan Oilfield and Sinopec Rising Star Oil Company to carry out the first photovoltaic power generation project – Pu Dong Oil Plant Ma and Qiaokou two joint stations as photovoltaic solar power pilot project recently successful trial operation, has been officially put into operation. This is also the first in the oil and gas gathering and transportation station put into operation a successful photovoltaic power station, the joint station to run the equipment used green clean energy.

Joint station as a key unit of class A, safety and environmental requirements are relatively high. Oil field and the star company combined with the safety of the station spacing, make full use of the reservoir above the space and idle space, careful deployment, more than 2,000 power generation board according to the matrix constitute a solar power system. After the realization of grid-connected power generation, the power supply service center technical staff actively carry out the daily operation and maintenance work of the photovoltaic power station, the staff station on duty management, the implementation of 24-hour safety and environmental protection, security for the system safe operation.

Up to now, the project has accumulated more than 150 million kilowatt hours, energy-saving standard coal more than 300 tons, reduce carbon dioxide emissions more than 1,000 tons. Not only to ease the power shortage in the oil area, the excess electricity can also be online sales, and create benefits, to promote the development of green transformation of oil will play an important supporting role.

According to the United States, “Chemical Weekly” news, Japan’s Mitsui Chemicals plans to expand in Singapore and Japan’s phenol production capacity. In addition, the company is still waiting for the Chinese authorities to plan with China Petrochemical in Shanghai joint venture to build 120,000 tons / year of phenol project approval.

Mitsui Chemicals currently has a phenol production capacity of 750,000 tons / year, is Asia’s leading producer of phenol. The company’s Mitsui Phenol Singapore company plans to add 50,000 tons / year of phenol production capacity by 2007, followed by a further increase of 50,000 tons / year capacity, the specific date is not determined. After the completion of these two stages of expansion, Mitsui Chemicals in Singapore’s phenol production capacity will reach 350,000 tons / year. Mitsui Chemicals also plans to expand capacity of 50,000 tons / year for the phenol production plant located in Chiba, Japan.

PetroChina has signed a number of oil and gas cooperation agreements, involving pipeline transportation, natural gas purchase and sale, gas storage construction, natural gas chemical industry, natural gas power generation and other fields, are related to natural gas business. Analysts pointed out that PetroChina through international cooperation, and actively participate in natural gas upstream and downstream development.

Sign a number of cooperation agreements

PetroChina signed a cooperation agreement covering the Memorandum of Understanding on Investment and Financing Cooperation from Natural Gas Supply, Transportation and Demand, including the Azerbaijan Natural Gas Chemical Project, and the Memorandum of Understanding on the cooperation of the Uzbek Gazley Gas Storage.

Zhuo record information natural gas industry analyst Feng Haicheng told the China Securities Journal reporter, PetroChina signed a series of agreements, both through the purchase and sale contracts and gas storage construction, to ease the domestic gas production and peak shaving capacity of the situation, to protect the energy supply At the same time, through the natural gas chemical industry, natural gas power generation projects such as construction, stimulate the natural gas market demand, promote the extension of the field of natural gas downstream.

Industry insiders said that the oil overweight natural gas industry layout, is conducive to finding new growth points. According to earnings, 2016 oil net profit fell 78.88% year on year. As the oil upstream assets accounted for a larger, its fluctuations in oil prices is more obvious. In this context, PetroChina continues to overweight the gas business.

Natural gas plate performance is better

From the current situation, in the “three oil companies,” the business composition, the natural gas plate are relatively good performance.

Since 2015, international crude oil prices continue to remain low. Relatively speaking, PetroChina, CNOOC upstream oil and gas business accounted for a high proportion of the impact is relatively greater.

According to the annual report data, 2016 in the oil, CNOOC net profit fell more than Qi Cheng; and Sinopec upstream business accounted for a small, relying on the downstream oil refining plate, refined oil sales and chemical sector, net profit rose 44%.

From the natural gas sector, CNOOC’s sales fell 26%, PetroChina and Sinopec sales were up 16% and 3%. Affected by a variety of factors, “three barrels of oil” natural gas sales fell more than 10% overall.

Nevertheless, the performance of the natural gas sector is relatively better. Feng Haicheng said that natural gas is a strong policy to support the clean energy, the development of natural gas business can partially avoid the risk of oil prices caused by the downturn.

In 2017, PetroChina will focus on the construction of Shaanxi-Beijing four-line, the Sino-Russian natural gas pipeline and natural gas regional and sales terminals and other projects; Sinopec will invest Fuling shale gas field project (capacity 10 billion Cubic meter / year), Tianjin liquefied natural gas project (a design removal scale 3 million tons / year); CNOOC will continue to develop the natural gas market, strengthen the natural gas field exploration and development activities.

International oil prices on May 12 within a narrow range, closing up slightly. By the US commercial crude oil inventories fell sharply boosted last week, the international oil prices in the past two trading days rebounded more than 4%. 12, due to market concerns about US crude oil production continued to increase, the international oil prices rose weak.

According to the Xinhua News Agency reported on May 13, US oilfield technology services company Baker Hughes released the same day data show that this week the US operating oil field drilling for 17 consecutive weeks rose, indicating that the US shale oil manufacturers continued to increase production.

As of the close of the 12th, the New York Mercantile Exchange in June delivery of light crude oil futures rose $ 0.01 to close at $ 47.84 a barrel, or less than 0.01%. July delivery of London Brent crude oil futures rose $ 0.07 to close at $ 50.84 a barrel, or 0.1%