"This year, the central government will approve a group of enterprises to enter the upstream sector, so that the oligopolistic oil and gas extraction industry will gradually transition to a limited competition. The relevant programs have been drafted," said a Beijing insider on March 3.

In response to this statement, the relevant personnel of the oil central enterprises said they were unaware of the interview, and officials from the National Development and Reform Commission said that this matter has been discussed for a long time. "With the changes in the attitudes of the three major oil companies, the resistance is gradually disappearing."

It is understood that the current oil and gas monopoly is mainly concentrated in the field of upstream resources, especially in the acquisition of crude oil, other industries who want to obtain crude oil, whether imported or domestically purchased, can not bypass PetroChina, Sinopec and CNOOC; therefore, the monopoly, first More operators should be allowed to enter this field.

“For example, the Ordnance Group, China Sinochem, etc., they all have good upstream operations or shareholding experience overseas. Why can't they intervene in domestic oil and gas mining?” said the insider.

Regarding the question of whether the majority of private enterprises can intervene, the above-mentioned officials of the National Development and Reform Commission said that "it is true that as long as they are Chinese enterprises and have the corresponding qualifications, they should be able to enter the upstream and oil import and export fields. Of course, the specific circumstances have to be specifically arranged."

At present, Guanghui Petroleum is one of the enterprises with high voices in the upstream sector in private enterprises. However, many industry experts believe that the Ordnance Group, China Sinochem, CITIC Group, Guanghui Energy and Wanxiang Group are all overseas. Compared with them, Guanghui Petroleum still lacks much.

The new generation of oil is gradually taking shape

It is reported that the enterprises listed in the “big list” for the exploration qualifications include both state-owned enterprises and private enterprises.

Many of these companies have been operating in the oil industry for many years and have certain operational experience, but they have to cooperate with the oil central enterprises to obtain upstream oil and gas resources.

For example, on February 18, Sunlight Petroleum announced that it would acquire all the oilfield assets owned by American Anadarko Petroleum Company in Bohai, China at a basic purchase price of US$1.075 billion (approximately HK$8.346 billion).

The Hong Kong-listed company MI and others obtained the mining rights of some oil production blocks in Jilin Oilfield and other places through the “grey cooperation” with the subsidiaries of PetroChina after 2000.

"The reason for this kind of curve is mainly because they can not get the block," said MI insiders.

In order to break this monopoly, in 2004, Gong Jialong, the chairman of the former Tianfa Petroleum, planned to establish Changlian Group, which includes “exploration and mining, pipeline transportation, refining and chemicals, downstream distribution and other sectors”, so that domestic private enterprises have upstream exploration. Mining blocks, however, due to the decline of Tianfa oil, this effort has been defeated.

“Then, MI and so on can only rely on the gray cooperation model to get the oil production block.”

After 2010, the shale gas tendering of the Ministry of Land and Resources officially opened the prelude to breaking the monopoly of oil and gas. "After the bidding of shale gas blocks, a large number of non-oil and gas enterprises, especially private enterprises, can enter the oil and gas field with their own strength. ".

In August 2013, Fu Chengyu, chairman of Sinopec, publicly stated in Hong Kong that “the reform of the Third Plenary Session will far exceed the imagination of investors”. Recently, Guanghui Petroleum has invested heavily in the acquisition of Anadarko's related interests in Bohai. Some oil companies are also working with PetroChina's Changqing Petroleum and Daqing Oilfields to establish a hybrid ownership oilfield company.

Non-oil central enterprises such as China's Sinochem and Ordnance Group have also begun to plan to recruit talents from all sides to build their own oilfield operations team in China.

Who is the leader?

Who can be the first beneficiary of breaking the monopoly? The views of investors and oil companies are the opposite.

Many investors believe that since the central government demands to break the monopoly and let private enterprises intervene in the field of oil exploration and exploitation, then private enterprises will bear the brunt of the benefits. "Like Huihui Oil is supposed to enter."

They pointed out that 10 days ago, Sinopec took the lead in opening up the entire oil sales field to the society, and allowing social capital to hold up to 30% of the shares is a manifestation of the determination of the central government. "Sinopec's upstream resources are not many, and there are not many monopoly resources that can be opened to the society. However, CNPC and CNOOC have abundant upstream resources. As long as the government allows social capital to enter, then a large number of private enterprises have opportunities, such as Guanghui Petroleum."

However, the experts of Sinopec Economic and Technological Research Institute and other institutions are just the opposite. "Exploration and mining requires huge capital and strong technical strength. At present, most private enterprises only participate in the exploration and exploitation of foreign oilfields at most, and they do not have real technical strength."

In the previous round of shale gas bidding, a large number of private enterprises participated in the bidding. Two private enterprises won the bid. However, one year passed, not only did the two private enterprises fail to carry out the corresponding business, but also the other ten enterprises did not start. Start the exploration of shale gas.

"The reason why they did not start related work is mainly because of the strangeness to the oil and gas exploration and mining business. The initial investment is in the billions. For the private enterprises, that is how much money." Research institute experts said.

Limited competition mode

In fact, with the gradual exposure of the corruption case in the oil field, the past oil monopoly is destined to never return. "In the future, whether it is the full marketization of the US or the limited competition mode, it will not return to the absolute monopoly of the past." The above-mentioned experts from the Sinopec Economic and Technological Research Institute said.

He believes that the 50 years of China's oil industry development is 50 years after the military's professional development. It is inevitable that it has some drawbacks of military closure. "This is caused by history." But with the start of the reform of the oil and gas industry, this The situation is bound to change. “For China, complete marketization is not feasible, but limited competition is conditional.”

Full marketization first requires the marketization of the oil service market, that is, oil producers should be able to purchase the required services from the market at any time; however, China's existing exploration and drilling service teams are owned by PetroChina, Sinopec and CNOOC, which is no doubt further. Consolidating the monopoly position of oil central enterprises, it is difficult for private business operators to purchase the services they need. "The results of the previous shale gas bidding have confirmed this."

The government will gradually open up the oil service market, but this will take time, so at this stage it can only be limited competition.

"The government will allow more than ten enterprises to enter the upstream sector and form a real competition, so that the competition in the domestic oil market, especially resources, will gradually start. After the time is ripe, consider whether to open up the oil market for all capital." The experts of the institute said: "There are two conditions for entering the upstream market this time: there are successful cases of overseas oil and gas exploitation and a team with oil and gas exploration and mining."

It is understood that the Ordnance Group, China Sinochem, CITIC Group and Guanghui Energy have all met the above conditions, but the responsible persons of these enterprises have not responded to the reporter's interview request.

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