Posted: 15 Nov 2005, 18:03
Le gouvernement Chinois demande aux compagnies nationales de constituer des reserves :
source : http://jang.com.pk/thenews/nov2005-dail ... ss/b21.htmBeijing orders oil firms to build reserves
Tuesday November 15, 2005
SHANGHAI: China will soon order the nation’s oil companies to build their own refined oil reserves to guard against possible shortages, the Shanghai Daily reported on Monday, citing a government official.
"It’s necessary for oil companies to build reserves as refined oil is an important resource for the proper operation of the economy," the paper cited the Commerce Ministry’s vice director in charge of commercial reforms, Wang Xiaochuan, as saying.
Speaking at a petroleum forum, Wang did not disclose the capacity of the required reserves, although it would be within 20 per cent of China’s current refined oil consumption.
Wang said discussions on the regulations were underway and the rules would be put in place shortly, according to the paper.
China, the world’s biggest consumer of oil after the United States, embarked on a plan last year to build state strategic crude reserves as the country’s demand for the fuel continues to grow.
It has also told its three largest state oil groups to go on an overseas shopping spree to ensure strategic energy supplies to power the country’s fast growing economy.
Separately, Kong Linglong, director of the National Development and Reform Commission’s Foreign investment department, said that Beijing would soon move to establish a government fund aimed at helping its state oil groups purchase offshore energy assets.
In order to further push this wave of overseas purchases, the Chinese government will take even more supportive and promotional measures, Kong was quoted as saying by Oriental Morning Post.
"The Chinese government is preparing to establish a forex-linked fund to help in the purchase of foreign assets, and to help companies avoid investment risk when their own overseas assets dry-up or any other emergency," he said.
Last month China National Petroleum Corp’s (CNPC) completed the biggest overseas takeover by a Chinese corporation with its purchase of PetroKazakhstan Inc for $4.18 billion.
The deal in part helped offest the failure earlier this year of China National Overseas Oil Corp (CNOOC) to buy US company Unocal Corp for 18.5 billion dollars. Meanwhile, last the week the government said that China’s total crude oil consumption is expected to rise by 6.0 percent this year, although this was down from a 19-per cent jump last year.
Imports of crude oil will total 130 million tonnes this year, up 5.0 per cent from last year, Liang Shuhe, deputy director of the ministry’s foreign trade division, said. Crude oil imports in 2004 rose 34.8 per cent over 2003.
Liang said the year-on-year import growth rate for 2005 would be down from the 2004 level due to high oil prices, decreases in fixed-asset investment, an easing of local power shortages and the development of alternative fuels.
However, although growth in China’s oil demand has slowed this year, experts widely expect demand to rise again amid continued strong economic growth.
China last year consumed 314 million tonnes of crude oil, of which it
imported 122.7 million tonnes, taking 8.0 per cent of world consumption.