PetroChina plans to cast 400 billion overseas expansion Kunlun Series no timetable

Jiemin, the chairman of PetroChina, the 601857,sh, said in a media interview at the annual shareholder meeting on May 20 that the company plans to invest $60 billion trillion (about 400 billion yuan) to increase the annual production of oil and gas to 200 million tonnes overseas.　　Jiemin said PetroChina plans to inject most of its overseas operations into listed companies, and that the company's deal to buy 50% per cent of CNOOC exploration from the group will be restarted after approval by the state.　　Although the recent plunge in international oil prices, but Jiemin expected, this will not have a big impact on the company's first-half results.　　Overseas operations will be injected into listed companies Jiemin said PetroChina will buy the group's 50% per cent stake in oil exploration in due course. China oil exploration is currently owned by CNPC and PetroChina, which is responsible for the development of overseas business by 50%.　　The deal is now being restarted after approval by the state, and if the deal is completed, the oil exploration will eventually be withdrawn. The future PetroChina hopes that the Middle East, Central Asia, Africa, Asia-Pacific and the Americas will become PetroChina's five overseas cooperation zones, to achieve overseas oil and gas rights and interests production of 200 million tons per year, Nissan about 4 million barrels, to invest 60 billion U.S. dollars.　　And the crude oil exploration capacity of CNOOC has now reached 75 million tons per year.　　Jiemin said that the company is in the layout, mainly by the joint-stock companies, will choose a certain period and window, the oil exploration of the shares are fully loaded into the listed companies. Jiemin revealed that PetroChina's oil field project in Iran is scheduled to be put into production later this year, with an annual output of 1 million tonnes, equivalent to about 20,000 barrels of Nissan's crude oil.　　This year also plans to build a refinery in Syria with an annual processing capacity of 5 million tonnes. Hope that the gas price with the market as soon as possible Jiemin said that natural gas has become the main business of PetroChina, the target is in the next 10 years, natural gas accounted for 50% of the oil and gas equivalent. The Government's attitude is clear and will gradually rationalize the gas price mechanism. "PetroChina has an advantage in natural gas, gas pipelines account for the national 70%~75%, while gas sales account for 70%~78%."　　"Jiemin hope that natural gas prices can reflect market demand, and the market as soon as possible, the mechanism can be straightened out, but natural gas prices involving households and low-income groups, the government will carefully judge, the company will be in accordance with the Government's decision and arrangements for price adjustment."　　At the same time, PetroChina's CBM business is also actively advancing, Jiemin said, plans to achieve an annual production capacity of 4 billion cubic meters within 5 years. In the development of shale gas, PetroChina is actively conducting resource assessment and experimental area construction. Jiemin that Kunlun Energy and Kunlun Gas "two of their own business, does not conflict." He explained that the Kunlun gas is the main business of city Gas and CNG, and the headquarter of PetroChina group will make coordination. "There is a possibility of consolidation in the future, there is no timetable, no road map." "The sharp decline in oil prices has little impact on performance Jiemin said that the first half of the current 4 months, the company's first 4 months of good business, and 5Month and June the corresponding international oil price of the company is actually the April and May oil prices, then the oil prices have not plunged, so the company has little impact.　　On the current changes in international oil prices, he said, oil prices have fallen abnormally, hoping to keep crude oil prices in 70~80 dollars per barrel. Jiemin also made a comment on the pricing mechanism of refined oil. He believes that the current mechanism needs to be "perfected" and that "22 working days are too transparent." "At present, the international crude oil price has fallen below 70 dollars per barrel, under the current domestic price mechanism, the government is under pressure." Because the people want to follow the mechanism to reduce the price of oil products. Jiemin said, "PetroChina will follow the government's mechanism, do not want to oil prices (cracking oil prices) volatility too big."　　Jiemin said the government would take into account the factors of low-income families in cities to decide whether to adjust the price of oil products, he hoped that oil prices reflect the relationship between market and demand. Synchronous broadcast oil price cut window June Open or break the two giant retail prices recently, "petrochemical double-male" gasoline and diesel wholesale price has a different range of decline, but, "petrochemical double-hung" subordinate gas station retail prices did not appear accordingly.　　On the contrary, the preferential activities of private gas stations are being carried out in full swing.　　According to the latest monitoring data of Zhuo Chuang information, at present, private gas station 93# petrol than "petrochemical double male" subordinate gas station retail price per litre of 0.20 yuan ~0.30 yuan, and 0# diesel is generally also a discount of 0.10 yuan/liter.　　Analysts believe that the wholesale of the "petrochemical double-hung" can only increase sales through retail, but the time window for domestic product price reduction is expected to open in early June, high prices of refined oil will be broken. Private preferential promotion two big price according to "Daily Economic news" reporter understand, at present, Beijing "petrochemical double-male" subordinate gas station 93# Petrol (Beijing standard) retail price of 6.62 yuan per litre of ~6.92 yuan, and private gas stations for 6.2 yuan ~6.42 yuan/liter; Guangzhou area "Petrochemical double male" subordinate gas station 93　　#汽油 (Country III) retail price of 6.8 yuan per litre, and the private gas station price is 6.0 yuan ~6.34 yuan/liter, Shanghai area "petrochemical double male" the subordinate gas station 93# Petrol (Shanghai four) retail price is 6.67 yuan per litre ~6.87 yuan/liter, but the private gas station price is 6.4 yuan ~6.61 yuan/liter. In the area of diesel oil, the Beijing "petrochemical Double" subordinate gas station 0# Diesel retail price of 6.58 yuan ~6.88 yuan/liter, while the private gas station prices of 6.37 yuan ~6.5 yuan/liter; Guangzhou area "Petrochemical double male" subordinate gas station 0# Diesel oil retail price is 6.45 yuan ~6.61 yuan/liter,　　And the private gas station price is 6.0 yuan ~6.45 yuan/liter, the Shanghai area "petrochemical double male" the subordinate gas station 0# the diesel oil price is 6.77 yuan/liter, but the private gas station price is 6.6 yuan ~6.77 yuan/liter. Zhuo Chuang Information analyst Li Yu thatAt present, the main areas of "petrochemical double-male" under the gas station, the price of gasoline and diesel retail concessions generally small, and even no concessions, but the preferential margins of private gas stations generally large, of which the preferential margin of petrol is greater than the preferential range of diesel. Price Adjustment window to open retail prices or down why the "petrochemical double-hung" price of the batch fell 0 do not fall? To this, Li Yu analysis, because most of the source of oil is still controlled in Sinopec, PetroChina two major groups in the hands of the wholesale link, less profit, the current retail as the main route of delivery, in the retail concessions are small or not, the profit space is larger.　　However, the private gas station to consider the source of oil procurement, on the other hand, and reduce the price and "petrochemical Duo" competition, the current theoretical profit space is shrinking. Taking Shandong as an example, Li Yu made a calculation: At present, Shandong private gas station 93# gasoline retail price of 6.37 yuan/liter to calculate, converted into tons price of about 8400 yuan/ton, "petrochemical double-hung" petrol station 93# gasoline retail price of 6.57 yuan/liter, calculated for a ton of 8676 yuan/ton, with the local "petrochemical double-Male"　　Compared with the wholesale price, the retail theory profit of "petrochemical double-male" gas station is 346 yuan, while the profit of private gas station is only 70 yuan. However, the domestic product price downward conditions may be reached in early June, when the National Development and Reform Commission will start to cut the highest retail price of refined oil, the mechanism, when the "petrochemical double-hung" to secure high prices of refined oil will be broken.