In this regard, Reuters speculated that, as we all know, China is still on the way to increase its reserves to 90-day imports. Coincidentally, the National Energy Administration also said in September last year that China's commercial and strategic crude oil stocks were about 80 days of net imports. At present, China has built nine national oil reserve bases, which can reserve about 33.25 million tons of crude oil.
In addition, in order to prevent Iran's national oil company from losing foreign customers due to the dollar restriction, crude oil has been stored in bonded warehouses in the Asian market for several months. Among them, Iran's national oil company has stored more than 20 million barrels of crude oil in the bonded warehouse in Dalian to decide whether to sell it to China customers or other foreign customers, which provides an option for Iran to continue exporting oil.
According to the latest data provided by the customs and Reuters, in the fourth quarter of 2020, China buyers bought more than 6,543,800 tons of Iranian crude oil. In the past 654.38+04 months, Iranian oil sellers have delivered about 6.5438+08 million tons of oil to the China market, and the transaction volume has reached a record high.
It is reported that during the continuous export of Iranian oil, most financial transactions were conducted in RMB or Euro to bypass the US dollar limit. This shows that RMB has played the role of trading currency in Iran's oil trade. Obviously, Iranian oil did not stop trading because the US dollar cut off the SWIFT payment system.
According to the latest data, since its listing in March, 20 1 13 19660 lots, with a total turnover of 44. 10 trillion yuan. In 2020, both the turnover and positions increased significantly, with a total turnover of 4 1.5858 million lots and an average daily position of1.890 lots, an increase of 312 compared with 20 19, when the average daily turnover increased by nearly 40%.
In terms of scale, Shanghai crude oil futures has become the third largest crude oil futures market in the world after Brent and WTI crude oil futures in the United States. Among them, the average daily trading volume of international investors accounts for about 16%. In the first half of the year, the average daily positions of overseas participants increased by 6.5%.
As of March, RMB crude oil futures have attracted market participants from 23 countries including Britain, Switzerland, Singapore, United Arab Emirates, Australia, Japan and Thailand. At the same time, 68 international brokerage companies have launched RMB crude oil trading services, compared with 45 in 20 19. By the end of 2020, the number of delivery warehouses has increased from 9 at the end of 20 19 to 15, and the delivery storage capacity has expanded from 3.55 million cubic meters at the beginning of 2020 to 1 1.9 million cubic meters and about 67.88 million barrels, making new progress.
According to the news quoted by Sputnik news agency & radio earlier, BP has delivered a batch of crude oil to the delivery warehouse of Shanghai International Energy Exchange. The financial team of BWC Chinese website noticed that this is the first time that major oil companies from western developed countries have participated in the physical delivery of RMB crude oil futures since the introduction of RMB in March 20 18. According to the latest data of the last issue, in 2020, Shanghai crude oil futures delivered a total of 8510.59 million barrels, of which SC2008 contract reached the largest monthly delivery volume/kloc-0 1.3859 million barrels since listing.
Then, Reuters further said that China may start to settle imported crude oil in RMB on a large scale, which means that the US dollar will not receive tolls. As early as a year ago, a petrochemical giant in China signed a crude oil import agreement denominated in RMB crude oil futures, and this agreement came from the Middle East, which means that PetroRMB successfully entered the Middle East, which is of historical significance.
This means opening up the space for RMB to settle oil contracts on a large scale in the future, and it also means that due to the consolidation of RMB internationalization, it will provide convenience for investors who need to avoid petrodollars and hedge the price fluctuation risk of crude oil futures priced in dollars.
According to the latest news, at present, the previous issue and Shanghai International Energy Trading Center are both included in the positive list of the European Securities and Markets Authority, which means that the compliance and operating costs of EU investors participating in China crude oil futures market transactions are reduced.
This is also one of the important factors to attract international investors, including JPMorgan Chase, Goldman Sachs, Mizuho Securities, BNP Paribas and Industrial Bank. What is reflected behind this is that China has maintained a high value of RMB, and the pricing function of RMB has already appeared in the Asian market. In this regard, the Nikkei Asian Review also said a few weeks ago that it is best for Asian countries to transition from crude oil and other energy trade to RMB and Japanese yen settlement.
A few weeks ago, Reuters said that the presence of RMB crude oil in the world is rising, and it is likely to be first implemented in Russian, Angolan and other countries. At this point, it means that another oil currency star is rising in Ran Ran. Foreign media even bluntly said that Russia and Dubai failed to challenge petrodollars before, while China succeeded in other people's futile attempts so far.
At the same time, China is steadily opening wider financial markets, making RMB a freely usable international currency closer and closer. This also means that the premium of crude oil imported by China buyers may be increased to some extent. It also means that more investment will flood into China's real economy, enhance its ability to serve the real economy, and help to build a new development pattern with domestic large circulation as the main body and domestic and international dual circulation promoting each other.
At the same time, China has made extensive investments and applications in new energy fields such as solar energy, wind energy, batteries and electric vehicles. Combustible ice, for example, is regarded as a strategic alternative energy source for oil and natural gas in the future, and it is also the most promising new energy source for mankind. So whoever catches the combustible ice first will get the biggest growth momentum in the future.
According to the new news, China has become the world's leading country to master the core technology of combustible ice trial mining, and will officially realize large-scale commercial mining. At present, Blue Whale 1 has completed the first exploitation of combustible ice in the Shenhu sea area of South China Sea in China, setting two world records for the duration and total amount of gas production, which also means that China has occupied the highland of energy technology ahead of schedule.
In addition, China is expected to build the Tokamak device, the world's first man-made solar energy project with stable combustion, for power generation within several decades, which will bring almost unlimited clean energy to mankind. At this time, great good news came from the media.
According to Sputnik news agency & radio's report three weeks ago, the Tokamak, known as the largest artificial solar energy project in China with the highest parameters and independent intellectual property rights, was officially built and discharged in Chengdu, and the plasma temperature reached 65.438 0.5 billion degrees Celsius, which marked that China officially entered the forefront of global controlled nuclear fusion research and will further accelerate the pace of human exploration of future energy.
According to Song Yuntao, chief engineer of artificial solar engineering installation, there is no chain reaction or radioactive waste out of control, and even seawater can be used as fuel. The fusion fuel extracted from one liter of seawater is equivalent to the energy generated by 350 liters of oil. Therefore, only from this perspective, thermal nuclear reactors can generate a lot of energy that humans can't use up, which is why this new energy technology can attract the attention of the world.
At the same time, the construction and installation of nuclear energy projects in China have reached the advanced level in the world. We believe that the artificial sun will be another energy revolution after the exploitation and utilization of coal and crude oil in the world energy history. This may also be one of the major investment opportunities faced by our generation, and it will become a national economic business card after high-speed rail, big plane and Hualong No.1.
On the other hand, in the traditional energy field, with the upgrading of China's oil exploitation technology and crude oil, new oil and gas resources are also increasing. For example, with the help of new technology, the output of heavy oil in Xinjiang oilfield has also exceeded 1 100 million tons, and high-quality naphthenic heavy oil is known as rare earth in oil and is a strategic raw material for national economy and major engineering construction.