Refined Oil, "differentiated" Market Chaos When The Crack
HC Chemical Network News, the oil giant thrust into the media air waves
. It is reported that PetroChina, Sinopec two giants, with its market dominance, one hand below the pre-tax price of domestic refined oil price of 10% of export to overseas markets, on the other hand the domestic refined oil price hike sought. Such "differentiated" in oil prices is a lot to understand.
Fact, rebelled against the oil giant as the laws of the market and the courage, administrative help from the market under the strong, the fig leaf of which is precisely the number of drafts of the refined oil pricing formula. As a result, theoretically, to all the people all of the oil giant, whose interests are diametrically opposed points.
Earlier, the oil giant on the excuse or cheap oil from overseas there are two main aspects: First, the domestic "taxes" than foreign high tax prices can not be directly compared; Second, domestic labor and logistics costs cheap to attract foreign investors to China as oil processing to. To Sinopec, for example, the processing of refined oil to the export trade accounts for about 20% to 30%, thus pulled down the overall price of refined oil exports. Obviously, outside of the oil giants such one-sided story is not "buy it." For the former, the media, inquisitive, open data and the tax ratio calculated conclusion, the current price of China's exports of gasoline and diesel than Shanghai's pre-tax wholesale price of gasoline and diesel minimum discount of 8% to 12%. For the latter, the industry believes that the three major sources of China's oil imports were Saudi Arabia, Angola and Iran; and the major exporter of oil but for the Association of Southeast Asian Nations, China, Hong Kong and Panama, import and export region does not overlap a large area, how can a large number of "processing" business down the export price of that?
To refute the arguments of both complex, the average consumer may not read too clear, but their personal experience is that oil prices rose after another. As the "offer higher" vested interests in oil and Sinopec has said that "the pricing mechanism of corporate respect for the government" will blame high oil prices to the government.
Indeed, China's refined oil market is currently subject to excessive administrative intervention in the past and the current pricing mechanism is a classic. Under the existing price, the domestic refined oil price hike should do. However, the pricing formula reflects only the executive branch of the monopoly oil enterprises of compassion, but with the status of domestic oil market is far from. On the one hand, international oil prices and supply and demand depends on its own and close to local speculation, and half of the self-relevance of the domestic market is not very high; the other hand, the improved cost-plus formula is not out of ideas, and the oil monopoly Enterprise refining costs do not open, which is equivalent to the supply side has the right to the final price of the remote control. Abnormal pricing formula for oil giant earned pours and then the overseas markets to seek new support. Customs data show China's March exports of oil and 264 million tons, up more than 70%. Of course, a higher degree in the overseas market, oil prices will never again have so-called formula guide, only the Romans in the domestic giants to supply and demand equilibrium price show people that may be lower than the current domestic price. Essence, equivalent to not make full use of domestic, and even quite scarce oil resources, make the wedding dress for his country.
Business is business, profit-maximization is the goal of enterprise management market. However, the oil giant is not an ordinary business enterprise, with its attributes of state-owned central enterprises, the real shareholders of all their people at home. Just so they will be granted access to administrative support, but it also means that the monopoly of state-owned enterprises must be the people's interests first, otherwise the costs and benefits is not so, as contrary to the basic principles of market economy. But by contrast, enjoy a monopoly of the oil enterprises in the long-term profits at the same time, high oil prices, domestic oil side have long been faced with the plight of high prices, restricted the control policy is intended to "boost consumption," the goal. More importantly, there is no competition monopoly oil prices, lost market power of innovation in the pursuit of economic interests under the blind expansion of production capacity. According to the construction of the proposed scheme, the industry is expected to 2015, China's refining capacity will reach 800 million tons / year. According to gas, coal, diesel oil demand forecast three, in 2015 the domestic refining capacity only needs about 550 million tons / year, will be a serious surplus production capacity.
Refined Oil, "differentiated" Market Chaos When The Crack
By: yoyo
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