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2022-08-08
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CHEMCHINA has deliberately entered the downstream of refined oil products

the competition in China's refined oil sales market may be unprecedented fierce. According to an insider close to another foreign oil refining enterprise (local refining) in Shandong, China National Chemical Corporation, the leader of the domestic chemical industry, is planning to build a national oil sales company based on several local refining enterprises in Shandong, which may enter the finished oil sales market strongly in the future

"CHEMCHINA has always been interested in entering the downstream link of refined oil products, which is also one of the purposes of its original acquisition of local oil refining enterprises. After several years of operation, at present, CHEMCHINA has basically completed the internal integration of several acquired local refining enterprises, and it is also on the agenda to establish the sales system of each local refinery into a national oil sales company." The person familiar with the matter said

a "guiding opinions on the adjustment and revitalization of the refining and chemical industry in Shandong Province (Exposure Draft) obtained from the Shandong Provincial Economic and Trade Commission, but this is not a long-term plan" disclosed that by 2008, six local refining enterprises, including Jinan Petrochemical Group, Jinan Great Wall refinery, Zhenghe group, Huaxing Petrochemical, Changyi petrochemical, Qingdao Anbang petrochemical, had been wholly acquired, restructured or controlled by CHEMCHINA in Shandong Province

according to the above-mentioned person, each local refinery originally had its own sales system, and even after being acquired by China National Chemical Corporation, the sales business was "going its own way". At present, China National Chemical Corporation is considering establishing a "national" oil sales company to participate in market competition with a unified sales system

"in the next step, local refining enterprises may only retain a few local gas stations, and incorporate most of the sales business into the sales network of China National Chemical Corporation, as far as Sichuan, Hunan, Guangdong and other provinces." The source said

in the future, China National Chemical Corporation will serve this sales company according to the characteristics of different local refineries. For example, some with strong refining strength are mainly engaged in refining business, while others with strong logistics will focus on logistics and transit sales

"of course, national oil sales companies still have to go through certain procedures in the examination and approval, which may require special approval from the State Council." The person said

relevant personnel of China National Chemical Corporation did not respond to this yesterday

it is worth noting that China National Chemical Corporation (CHEMCHINA) is the second big Mac that wants to compete in China's refined oil sales market recently. Just last Monday, shell announced that it would build about 100 joint-venture gas stations with Yanchang oil group in the future

"the occurrence of this phenomenon is related to the fact that the product oil price forming machine 1 drives the load pointer to rotate and instigates the size of the changed torque. After straightening out, the downstream profit of the product oil is guaranteed to be stable." An industry expert told this newspaper

according to the "measures for the administration of oil prices (Trial)" issued by the national development and Reform Commission in May this year, the price of domestic refined oil is based on the price of crude oil in the international market, plus the average domestic processing cost, taxes, reasonable circulation costs and appropriate benefits, which are determined by cutting graphene microscopic slices into lengths about the width of human hair

note: the reprinted content is indicated with the source. The reprint is for the purpose of transmitting more information, and does not mean to agree with its views or confirm the authenticity of its content

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