The Shanghai Municipal Government attaches great importance to the establishment of Shanghai Petroleum Exchange in cooperation with the four major domestic oil companies, and has included it in the action plan for the development of Shanghai's service industry. The government of Pudong New Area in Shanghai has listed the establishment of Shanghai Petroleum Exchange as the key supporting unit of the comprehensive reform pilot in Pudong New Area approved by the State Council, and given special fiscal and tax preferential policies to support it.
The purpose of Shanghai Petroleum Exchange is to provide efficient, high-quality and professional trading services for petroleum and petrochemical enterprises and society, and make contributions to the comprehensive establishment of a modern petroleum market system in China. Its business orientation is a commodity market based on modern trading technology, which provides trading intermediary services for spot trading of petroleum and petrochemical products (including medium and long-term orders). On 20 10 12 17, Shanghai Petroleum Exchange launched the spot auction trading of liquefied natural gas (LNG) and liquefied petroleum gas (LPG), which will be the first electronic trading platform for natural gas marketization in China.
On June 5438+05, Shanghai Petroleum Exchange held the awarding ceremony for the first batch of dealers, delivery warehouses, carriers and settlement banks.
Shanghai Petroleum Exchange is an energy factor market jointly established by China's four state-owned oil companies PetroChina, Sinopec, CNOOC, Sinochem and Shanghai's largest energy enterprise Shenneng Group. It is an important starting point for Shanghai to build an international trade center and an international financial center.
Spot bidding is an innovation based on traditional spot trading. Through the electronic trading system of Shanghai Petroleum Exchange, the seller's traders first announce the commodity information and the selling reserve price, and the buyer's traders bid independently, and clinch a deal with the principle of "price first, time first" within the specified trading time and automatically generate an electronic trading contract.
After the transaction is completed, the buyer and the seller enter the physical delivery link, and the physical delivery rate is 100%. All companies involved in the transaction are manufacturers, traders and consumers of natural gas and liquefied gas. , with relevant variety qualification and relevant industry background.
The insiders believe that the spot auction trading platform can form a market-oriented docking and favorable guarantee for the supply and demand of natural gas and liquefied petroleum gas, which is conducive to promoting the market allocation and peak demand of liquefied natural gas (LNG) and liquefied petroleum gas (LPG) resources, and is an active exploration of the marketization of disposable energy in China. Shanghai Petroleum Exchange has distinct characteristics of modern oil spot market, which are as follows:
1, adopting advanced trading modes such as e-commerce, with convenient trading and low cost;
2. Adhere to the business philosophy of "openness, fairness, justice" and "honesty and credit" to form the market price of petroleum and petrochemical products;
3. Adopt corporate management mode to form a multi-variety, multi-level and multi-mode spot trading market system.