Pressure exports increase production to ease the contradiction of refined oil

The situation of tight supply of domestic oil products and a large increase in exports is expected to change. On November 20th, the reporter was confirmed by China National Petroleum Corporation and Sinopec Corp. and was under pressure from the National Development and Reform Commission and the market. The two groups have made a gesture of stabilizing domestic oil supply.

China Petroleum and Natural Gas Corporation issued an "Emergency Notice on the Current Supply of the Refined Oil Market" on the 18th, requiring relevant departments and specialized companies at the headquarters to seriously handle the steady supply of refined oil as the top priority in the current production and operation. The refining and chemical companies must strive to increase the production of diesel and high-grade gasoline, which are in urgent need of the market. In particular, stable production and supply of low-condensation point diesel oil and Beijing IV oil products should be done well in winter. International business companies must strictly control the export of refined oil products, adopt various trade methods, strive to purchase more resources in the international market, ensure timely organization of arrivals, and increase the amount of domestic resources. Northeast, North West, and North China Sales Companies must strengthen production and sales linkages and transportation organizations, with a focus on the organization of diesel, Xiahai, Lancheng, Wulan, and railway transportation, in an effort to increase the number of trains shipped, improve loading and unloading efficiency, and ensure smooth transportation. Each flow is smoothly and balancedly supplied. All sales companies must coordinate their work and transport plans.

Also on the 18th, China Petroleum & Chemical Corporation urgently convened a video conference. Su Shulin, general manager of the company, put forward measures to reduce the export of refined oil, increase the intensity of outsourcing, and 10 measures such as full-scale production of oil refining companies to ensure the supply of domestic refined oil. Sinopec also decided to postpone the overhaul of five companies including Yangzi Petrochemical, Jinan Petrochemical, Zhenhai Refinery, Hainan Refining, and Jiujiang Petrochemical to increase refined oil production. At the same time, Sinopec also stated that it would gradually release restrictions on sales of gas stations and stabilize the supply of refined oil products. Wang Tianpu, president of China Petroleum & Chemical Corporation, requested at the meeting that priority should be given to guaranteeing the production of refined oil when the production companies increase the production of refined oil products and may cause shortage of raw materials for chemical products. The sales company must organize emergency teams to solve the problem of long lines of sales within 24 hours.

It is understood that by mid-November, PetroChina has imported more than 400,000 tons of refined oil products this year. In the fourth quarter, the company's crude oil processing volume will increase by 2.13 million tons over the same period last year, reaching 32.5 million tons, an increase of 8% compared with the third quarter. In November, Sinopec has imported 300,000 tons of refined oil to ensure domestic supply. At the same time, it also formulated the December import plan and submitted it to the State Council. In the future, it will surely arrange imports according to market conditions.

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