China'S Diesel Market Will Be Calm At The End Of The Year.

In November 9th, a questionnaire was sent to 12 analysts from the petrochemical industry to investigate the recent "diesel shortage" in China. 9 of the 12 analysts surveyed considered China. Diesel market It will be calm at the end of the year.

9 analysts believe " Diesel shortage "It will be relieved at the end of 2010. The reason is that the energy saving and emission reduction tasks will be completed by the end of the year, and the diesel needed for generating electricity will be reduced.

Another 3 analysts believe that diesel supply ultimately depends on market supply and demand. Conserve energy,reduce emissions Some of the small refineries are closed and diesel production is reduced. The rise in international oil prices makes the refinery raw material prices too high, and some refineries slash production or even stop production. Whether the national energy conservation and emission reduction task will still be heavy and unpredictable during the "12th Five-Year" period.

The 12 analysts said that the current price of diesel was affected by supply and demand, and the final increase was unpredictable.

Since October, there has been "diesel shortage" in many parts of the country. According to the statistics of energy and Energy Information Institute, the average wholesale price of diesel oil in China was 7511 yuan / ton in October 28th, which rose by 155 yuan / ton the day before the price adjustment, which is 31 yuan / ton higher than the national average retail price after the price adjustment.

According to the survey data of the oil circulation Committee of the China Federation of Commerce, more than 2000 private gas stations in southern China have been shut down due to lack of oil, and the number of Guangdong, Jiangsu and Zhejiang provinces is as high as several hundred.

Oil and Sinopec, the top two major oil companies in China, have also taken measures to ease diesel tension. In November 7th, Sinopec announced the import of 200 thousand tons of diesel oil resources. In November 3rd, China's crude oil daily processing capacity exceeded 400 thousand tons for the first time, a record high.

In the interview, the analysts mentioned three factors affecting the diesel supply: the international crude oil prices continued to rise, some oil refineries significantly reduced production or even stopped production, resulting in a reduction in overall resources; some parts entered the peak season of seasonal diesel consumption; in order to complete the "11th Five-Year" energy saving and emission reduction targets, all localities rushed to "slam the electricity limit" before the end of this year, so many enterprises bought diesel oil to generate electricity by themselves, and diverted a considerable part of the diesel oil.

The securities companies who participated in the survey included Shenyang Wanguo, Bank of China International, CIC securities, China Merchants Securities, Guotai Junan, CITIC Securities, Kai Ji securities, Changjiang Securities and Everbright Securities.

Sinopec is the parent company of Sinopec (600028.SH/00386.HK/NYSE:SNP) and China's largest diesel producer.