日韩精品久久一区二区三区_亚洲色图p_亚洲综合在线最大成人_国产中出在线观看_日韩免费_亚洲综合在线一区

Global EditionASIA 中文雙語Fran?ais
Business

PetroChina eyes major role in oil pricing

By LIU ZHIHUA and LIU YUKUN | CHINA DAILY | Updated: 2019-11-19 00:00
Share
Share - WeChat

Chinese oil and gas giant Petro-China's partnering with some of the world's biggest energy companies to launch a new crude oil futures exchange in the Middle East, is an important move for the company to better leverage the international crude oil trading mechanism to gain profits and hedge losses, analysts said.

Abu Dhabi's state oil producer, Abu Dhabi National Oil Co, or Adnoc, recently said it had teamed up with Intercontinental Exchange Inc, and nine energy-market behemoths, namely BP, Total, Inpex, Vitol, Shell, Petro-China, South Korea's GS Caltex, Japan's JXTG and Thailand's PTT, to launch a new futures exchange in the United Arab Emirates and set up the world's first Murban crude oil futures contract.

Murban crude oil is a flagship crude oil product from the region. It is also the first time that PetroChina is being part of an overseas crude oil futures exchange.

Analysts, including Han Xiaoping, chief researcher at industry and energy website china5e.com, said the listing of Murban futures contracts is a move by the oil producers and traders to rival well-established crude oil bench marks such as Brent and West Texas Intermediate.

Qu Xinrong, senior supervisor of the index research and development department, Shanghai Petroleum and Natural Gas Exchange, said PetroChina's decision to be part of the new bourse will help it gain more insights into the crude oil pricing mechanism, and thus avoid losses, apart from probably getting a share of the exchange's profits.

"Without an accurate understanding of the operating mechanism and the pricing logic of crude oil futures contracts, such as Brent and WTI, it is easy to lose in the market without knowing why, like what happened to China Aviation Oil (Singapore) Co Ltd," he said, referring to the company's loss of $550 million from oil derivatives trading in 2004.

He also said it would be some time before it can be gauged whether the Murban futures contract can rival other mainstream crude oil bench marks.

Yet PetroChina's share in the new exchange will have no direct influence over China's presence in international crude oil pricing mechanism, because if China wants to have a higher say in global crude oil prices, it is more important to build up capabilities of Chinese marketplaces to have a strong presence in the global market, rather than trying to influence global pricing, he said.

"The most important thing to do is to create an agreeable business environment supported by a vigorous financial market with quality service providers, so that international players will recognize and cannot operate without the future contracts market in China," he said.

China is increasingly gaining a greater presence in the global crude oil market in recent years, due to the internationalization of its currency, the launch of yuan-denominated oil futures, and easier access to the global crude oil market for domestic buyers, he said.

The Murban futures contract, to be hosted on the new exchange named ICE Futures Abu Dhabi, will allow global buyers to hedge risks and gain more value from the company's oil output, Adnoc CEO Sultan al-Jaber said during an energy forum, according to Reuters reports.

Today's Top News

Editor's picks

Most Viewed

Top
BACK TO THE TOP
English
Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
License for publishing multimedia online 0108263

Registration Number: 130349
FOLLOW US
主站蜘蛛池模板: 天天干电影 | 亚洲精品66 | 啪啪网免费 | 国产91色在线 | 亚洲 | 2021国产精品自拍 | 精品视频久久 | 91视频在线| 国产极品久久 | 欧美日韩不卡在线 | aaa在线| 欧美伊人久久 | 日韩亚洲欧美在线爱色 | 日韩av在线不卡 | 91av爱爱| 激情五月色婷婷在线观看 | 久草视频在线首页 | 男女午夜 | 欧美一级毛片在线看视频 | 天天爽夜夜爽夜夜爽精品视频 | 一区二区三区视频 | 午夜影网| 亚洲国产精品一区二区久久 | 91成人亚洲 | 男女午夜性爽快免费视频不卡 | 亚洲三区在线观看 | 91久久线看在观草草青青 | 国产在线欧美精品中文一区 | 精品一区二区三区免费视频 | 国产精品久久久久久一级毛片 | 亚洲欧美一区二区久久香蕉 | 欧美精品欧美精品系列 | 国产精品美女久久久久久免费 | 国产精品国产三级国产aⅴ原创 | 九九精品视频一区二区三区 | 韩国福利影院 | 国产99久久亚洲综合精品 | 亚洲日本在线天堂无码 | 日韩精品一区二区在线播放 | 亚洲精品老司机综合影院 | 一区中文字幕 | 午夜影视|