Many Factors Such As Sluice, Power Restriction And Other Factors Contributed To The Tight Supply Of Diesel Oil, &Nbsp;

Since October, the "diesel shortage" has come back and spread all over the world. Hangzhou, Ningbo, Shanghai suburbs, Wuhan, Nanjing, Hefei and other places are in urgent need of diesel fuel.

"This is just the peak season for diesel oil demand. The oil for infrastructure projects and the oil for fishing industry are relatively strong. In addition, the state's inspection of energy conservation and emission reduction has increased the demand for diesel power generation, and the rigid demand for diesel fuel is strong."

Zhao Jingmin, an analyst with China chemical network, told the first financial daily.

The industry believes that if parts of the region do not cancel the "power restriction" regulations, and the two big oil giants and other companies do not allocate resources properly, and the output can not be substantially improved, the domestic diesel tensions will be difficult to alleviate in the short term.

"Chemical products grab diesel oil"

The region where diesel is in short supply, including Zhejiang, Jiangsu, Hubei and Anhui, happens to be part of the local government's "power sluice".

But in addition, the domestic chemical industry from cold to hot also aggravated the tension of diesel oil.

In addition to producing gasoline and diesel oil, there are a series of chemical products in the process of crude oil refining.

Sinopec insiders told this newspaper that if the crude oil processed by a company is 1.7 billion tons, the output of diesel gasoline will be 70 million tons and 30 million tons respectively, and the output of chemical raw materials, aviation kerosene and petroleum coke will be 23 million tons, 8 million tons and 10 million 340 thousand tons respectively.

The relationship between chemical demand and diesel output is "one way or another".

Because of the strong economic recovery, the prices of chemical products are also soaring.

In the last week of October, the prices of chemicals such as methanol, two methyl ether, bisphenol A and viscose staple fiber continued to rise by 3.5%, 2.5%, 4% and 2.61% respectively.

The price of bisphenol A and two methyl ether has increased by 100% and 41% over the same period last year.

"Enterprises that produce both gasoline and diesel as well as chemical industry are likely to shift their energies to a fast growing price of chemical products, and their enthusiasm for diesel production may not be very high."

A fund analyst who did not want to be named said.

In order to alleviate the problem of "chemical products to grab diesel oil", Sinopec is importing some raw materials from abroad to produce chemicals, and its raw materials are put into diesel production.

In addition, p provincial allocation may also be an important factor to aggravate the "oil shortage".

According to a data obtained from Sinopec, Zhenhai, Shanghai petrochemical, Jinling Petrochemical and Gaoqiao, which are capable of processing more than 10 million tons, are located in East China and belong to the company's core oil refining base.

The whole East China has about 91 million 500 thousand tons of capacity, and the equivalent of diesel is estimated to supply 36 million tons.

However, a management member of Sinopec Shanghai Gaoqiao Branch admitted that the diesel produced by Gaoqiao refinery could not be directly supplied to Shanghai, but only through the unified deployment of Sinopec's East China sales company.

Every month, the East China region of Sinopec will make the allocation plan according to the needs of the provinces, and temporarily change the plan of a province, which will affect the resources and pportation modes of the whole East China (such as pipelines, railways, highways and waterways).

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Monopoly problem

Another member of PetroChina sales company said that due to the southern Guangxi and Yunnan provinces entered the "squeeze season", that is, the production period of beet sugar and sucrose, and the production cycle began in the fourth quarter, a large number of diesel oil was used for pport and agricultural production activities.

Therefore, the annual consumption of diesel oil in the "squeeze season" has always been the concern of the two largest companies.

It is understood that the "squeeze season" usually begins in 9 and October each year and ends in 3 and April in second.

According to market participants, the annual consumption of diesel oil during the "squeeze season" accounts for about 1/5 of the annual diesel consumption.

Affected by this, the oil shortage in the South will not be eliminated until next year.

An official of a provincial development and Reform Commission also said that due to the impact of the Dalian PetroChina bombing, enterprises once suspended production and cleaned pipelines thoroughly, which may be one of the reasons for the failure of diesel supply.

Monopoly also exacerbated the contradiction between supply and demand.

Sinopec has more than 50% of refined oil retail resources in Shanghai and Zhejiang.

In Shanghai, Sinopec, CNPC, CNOOC and other markets accounted for 70%, 17%, 5% and 8% respectively, and Sinopec is the absolute leader.

At present, some Sinopec petrol stations in Shanghai have begun to impose "limited supply" - 200 yuan of diesel oil each time.

However, it is not easy for Sinopec to buy diesel oil from CNOOC and CNOOC to fill the current gap.

If Sinopec purchases diesel from PetroChina, it will help competitors improve their performance indirectly.

The person in charge of the fund company, who did not want to be named, said.

Han Xiaoping, chief information officer of China energy network, said in an interview with the newspaper that Sinopec can take some measures to limit or stop the sale of some direct selling and wholesale customers, and pfer these resources to the retail market.

In the first half of this year, the volume of direct sales and wholesale volume was 15 million 700 thousand tons and 10 million 750 thousand tons respectively, accounting for nearly 39% of the total sales volume of Sinopec's finished products, which increased by 3% compared with that in 2009, that is to say, the proportion of major gasoline and diesel customers increased.

"Because the wholesale price of diesel is very high, even higher than the retail price.

Therefore, it is not possible to exclude some private wholesalers from buying high priced diesel products from Sinopec through the relationship, resulting in the tension in the retail market.

Guo Jin Securities researcher Paul Liu pointed out that when the contradiction between supply and demand of diesel is prominent, enterprises should also strictly control the use of some grey means.