PetroChina is also "not to be outdone". China Petroleum Financial Report shows that the revenue in the first half of the year was 929.045 billion yuan, down 22.3% year-on-year, and the net loss was 29.983 billion yuan. In the same period last year, the profit was 28.423 billion yuan, down 205.5% year-on-year.
In other words, in the first half of this year, the domestic "two barrels of oil" lost nearly 53 billion yuan, with an average daily loss of 300 million yuan. At that time, did everyone have a feeling that "refueling is earning"?
Seeing this, I believe that many netizens, like Brother Cha, can't understand how the loss of "two barrels of oil" came from. Before the international crude oil price plummeted, the crude oil price even fell to a negative value. Buying oil not only costs nothing, but also subsidizes your money. We have caught up with this once-in-a-century thing. What caused the loss of "two barrels of oil"?
Remember that foreign dairy farmers pour milk and fruit farmers pour fruit? The main reason is that the market supply exceeds demand, resulting in a sharp drop in transaction prices; On the other hand, the transportation and storage costs far exceeded the actual selling price, which led to the incident.
Coincidentally, "dairy farmers pour milk" has many similarities with this crude oil price crash. We put the time back to May, when the crude oil price was negative, and the WTI crude oil futures price plummeted by 300% to close at -37.63 USD/barrel, and the price in that month was even as low as -40.32 USD/barrel. In other words, at that time, as long as you took away the crude oil produced, the futures dealer would have to pay you an extra 40 yuan. Wouldn't it be nice if we took advantage of this "special price" period and bought in large quantities? In fact, for the oil market, there is still a certain difference in buying food in the vegetable market in peacetime. Crude oil involves not only the cost of mining, refining and transportation, but also the cost of storage.
The futures market is only a superficial result. What really leads to the decline of crude oil price is the change of market supply and demand. In April this year 10, the data released by us energy information administration showed that the crude oil inventories in the United States had increased for 12 weeks in a row, and the increase rate reached a new high, and China was no exception. As can be seen from the above data, although the demand is declining, the supply of the supply side has not decreased with it, which leads to the continuous expansion of the inventory space of traders and is close to saturation. When the global crude oil storage base is close to saturation, affected by the epidemic, the market demand continues to fall, resulting in a ship full of oil on the sea surface and a sharp drop in fuel prices.
The main reason for the negative price of crude oil is that our stocks are saturated. On the contrary, as the largest oil importer in China, I believe that if there is still a huge space in our inventory, the oil price will not turn negative this time. The relationship between them is complementary. Even in view of the huge temptation of oil prices, it is hard to say whether the emergency procurement, including the time for comprehensively dispatching transport vessels and the cost of staying and storing at sea, is a loss or a gain.
In addition, although China is the second largest oil consumer in the world, and its oil consumption is second only to that of the United States, we are the largest oil importer in the world. The average oil quantity of only a few tankers does not actually affect the purchase price of crude oil, which is also the main reason why the price of crude oil has fallen to negative and two barrels of oil are still losing money.
Moreover, the rise and fall of China oil price is not determined by "two barrels of oil". Oil is an important material, and the fuel price needs to be adjusted by the National Development and Reform Commission. According to relevant regulations, when the international crude oil price is lower than 40 USD/barrel, the domestic refined oil price will not be adjusted, and the unadjusted amount will be turned over to the central treasury as a risk reserve. Therefore, the unadjusted amount did not fall into the "pocket" of two barrels of oil.
If an enterprise loses money, it will naturally make a profit. The news that two barrels of oil suffered a huge loss of 50 billion yuan in half a year is certainly eye-catching, but if I tell you that the profits of domestic private petrochemical enterprises have increased substantially in the context of the international crude oil crash, don't you think the people with two barrels of oil and gas are very irritating?
For example, some time ago, Hengli Petrochemical announced its first-quarter performance report. Data show that in the first quarter of 2020, the company achieved operating income of 29.77 billion yuan, up 97.8% year-on-year, and realized net profit attributable to shareholders of listed companies of 265.438+43 billion yuan, up 323.84% year-on-year.
The most intuitive reason is that the terminal market does not buy it. Some time ago, the international oil price plummeted, and these private gas stations were offering discounts and promotions, and even joined as members, with a discount of 0.5-0.8 yuan per liter of oil. Consumers naturally voted with their feet and joined the arms of private gas stations. On the other hand, the oil price of two barrels of oil is "untouched", and the reason is also explained in the above analysis. When private gas stations flexibly control the timing of crude oil procurement, make a combination of promotional punches, and two barrels of oil are still overstocked before the bottom price mechanism is digested, they can only watch their customers being pried away by private gas stations.
And in terms of volume, the huge scale of two barrels of oil is unmatched by private gas stations. Usually, two barrels of oil gas stations have a good geographical location and many employees, so the operating cost is relatively high, which is why in May, when the international oil price fell into negative figures, two barrels of oil put forward internal promotion activities for efficient operation. ?
Tea elder brother's words:
In fact, there is no need to be angry about the loss of "two barrels of oil". Throughout the world, not only the "two barrels of oil" suffered losses, but also the five major oil giants in the world collectively suffered losses, and the amount of losses was even higher than that of the two barrels of oil. Among them, the losses of Shell and BP exceeded $ 10 billion, and the losses of ExxonMobil and Chevron also reached $10. Compared with the losses of foreign oil giants, we can only be regarded as "dwarfed".
This article comes from car home, the author of the car manufacturer, and does not represent car home's position.