Sinopec chairman: Than not adjusted the price

Annual refining plate back into place-I'm afraid it is loss of China petrochemical (7.46, 0.02, 0.27%) annual report last year for the outside world biggest regret. Yesterday afternoon at the 2011 annual performance conference ", including this newspaper, there were five times media questions involve refining losses. To this, China petrochemical chairman FuChengYu said, two refiners refining company profit and loss after has to bear, and product oil pricing mechanism or should stick to the way the market reform, is still ask for advice all parties.

 

BNP paribas, China petrochemical refining losses last year as high as 37.608 billion yuan. It was also the last round product oil pricing mechanism since the reform, the company to expose refining losses for the first time all year. In before the reform, China petrochemical refining losses almost in successive years in position, which in 2008, in the refining business to obtain policy under the condition of the subsidies, the company oil refining business loss 61.5 billion yuan still happen.

 

"For its refining losses outside are worried, but I think I should see it like this: although macro economic situation is difficult to control, but the company can control are than our competitors do better. First of all, we integration business model advantaged refining losses, though, but sales plate can make up for, balance risk ability especially large; at the same time, the company's management level is high, the unit refining energy consumption, profitability, yield, cost control is in the factory better position, even with the United States in the same level enterprise." FuChengYu said.

 

China petrochemical financial director WangXinHua said yesterday, under the influence of the product prices tight regulation, company refinery margin for last year only $0.73 a barrel, up by 87.5%.

 

"This latest product oil prices, the recent oil refining company of the plates in the profit and loss is already under '. 'overall can whether future can let oil refining, putting will also depend on the international oil price trend, if international oil prices continue to go up, I'm afraid to continue to losses, but the loss rate could be less than expected; and if a drop in oil prices, the refinery will not kui even profitable." FuChengYu yesterday in accepting our newspaper reporter said questions.

 

Since this year, countries have two adjustable high gas prices, frequency increased significantly. To this, FuChengYu points out, "the sure not adjusted than. This year, the two oil refiners refining losses will be significantly reduce the company."

 

As for oil refinery plate overall performance and high enormous influence on oil pricing mechanism reform, FuChengYu revealed that this work will continue to push forward, but details although scheme, suggest a lot, finally still depends on the government's overall balance.

"As for pricing will not down, I think it depends on the market reform mechanism based on the market. If the reform, the mechanism of marketization reform or should adhere to the way. At present reform is still in the brewing and ask for the opinions of all parties in the process." FuChengYu to our correspondent said.

 

Recently, the national development and reform commission energy research institute an expert, had revealed that the current product oil pricing mechanism reform a thinking when international oil prices of less than $130, product oil pricing or to three big oil companies independent pricing.