The New Scheme Of Oil And Gas Pricing Reform Has Been Reported To The State Council &Nbsp, Or With International Changes.

With the fall of the first oil price reduction in 16 months and the nationwide promotion of resource tax reform, the curtain of China's new round of oil and gas market reform has been unveiled.

Authorities yesterday told our reporter that at present, the two major pricing mechanism reform schemes of finished oil and natural gas have reached the State Council level, and the price pparency of domestic refined oil will increase in the future, and the price of gas will be adjusted dynamically with the international oil price.

At the same time, relevant state departments began to study the threshold for raising special income.

Associated gas

"The current domestic oil pricing mechanism has been running for nearly three years, basically straightening out the price relationship between crude oil and domestic refined oil, and ensuring a stable supply of the market.

But in practice, some problems have also been exposed, such as too long price adjustment period, lagging price adjustment time, and domestic finished oil prices can not reflect the changes of international crude oil prices and the pparency of pricing formula in time.

Authorities say.

The person said that since this year, with the sharp increase in international oil prices

"At present, the state is studying and improving the reform plan of the domestic oil price mechanism, including shortening the price adjustment cycle, accelerating the price adjustment frequency, improving the operation mode of the oil price operation, and increasing the pparency of pricing.

At present, the plan has arrived at the State Council. "

These people said.

According to him, the latest oil price cut is also a new launch.

As for the reform of the pricing mechanism of natural gas, the authority said that the study shows that the "12th Five-Year and 13th Five-Year" period is still a rapid growth period of China's natural gas demand, with an average annual growth of more than 20 billion cubic meters.

However, the domestic natural gas price formation mechanism is based on domestic gas and is no longer suitable for the new situation of rapid increase in natural gas imports.

"At present, the state is studying and formulating the domestic gas price reform plan. The goal of the recent reform is to establish a dynamic adjustment mechanism that reflects the market supply and demand and the scarcity of resources, so as to straighten out the relationship between natural gas and alternative energy."

The above said that, like the oil price reform, the introduction of overseas resources is a catalyst to promote domestic market price reform.

With the rising dependence on natural gas in China, the domestic gas price reform will also accelerate.

It is expected that in the near future, China will establish a natural gas pricing mechanism similar to the current refined oil pricing mechanism, and the domestic natural gas price will be dynamically adjusted along with the changes in the international market oil prices.

Analysts pointed out that PetroChina (9.87, -0.11, -1.10%) as China's largest natural gas supplier, will be the biggest beneficiaries of natural gas price reform.

And Changchun gas (10.60,0.14,1.34%), Shaanxi Natural Gas (18.32,0.22,1.22%) and other city gas suppliers will soon face the pressure of profit margins.

But as long as demand remains strong, the rise in costs will eventually be digested at the retail level.

Special income starting point is expected to increase

It is noteworthy that the State Council recently issued three documents, such as the Provisional Regulations on resource tax, announces that the resource tax reform will soon be rolled out across the country, while the royalty rate will be abolished simultaneously.

The authority pointed out that the "tax" and "fee" of China's current resource tax and fee system coexist and function overlaps, and the division of management system can no longer meet the needs of exploration and development of domestic oil resources under the new situation.

To this end, the state is gradually adjusting and improving the relevant resource tax and fee system, especially the oil special income policy.

"Since the 2006 levy, the external environment and the situation of oil companies have changed significantly. The unreasonableness of the special income policy has gradually emerged.

Taking into account the impact of resource tax reform in the whole country, exchange rate changes in recent years, and the increase in production costs of oil and gas enterprises, relevant state departments are studying ways to improve the current oil special income policy in terms of raising the threshold of income and increasing policy flexibility, and believe that it should be synchronized with resource tax reform.

The source said.

Wang Tianpu, President of Sinopec, also revealed yesterday that China will raise the threshold of oil and gas special income, but the timetable is still unknown.

The oil special income fund, commonly known as the "windfall tax", has been levied in March 26, 2006. The crude oil price exceeds $40 per barrel, and will be paid according to the 5 level progressive progressive rate of ad valorem.

When the international oil price is higher, the amount of special income payment will also be higher. The highest rate of collection is 40%.

According to 9.02,0.15,1.69% (micro-blog) estimates, as long as the oil special income from $40 / barrel to $50 / barrel, it can basically offset the adverse impact of resource tax reform on Petrochemical Industries Co performance.