The oil price "breaks one hundred" or causes the "oil crisis" Domestic oil companies to accelerate the attack?

Oil price "broken one hundred" and "oil crisis"

After rising on Wednesday, New York crude oil futures prices were 24% higher than the same period last year. The London Stock Exchange Brent crude oil futures price for April delivery closed at $111.25/bbl, which was the highest closing price since the 2008 financial crisis.

At present, many institutions have raised their crude oil futures price expectations, and some agencies have said that they “may rise sharply to US$220/barrel”. As the Middle East and North Africa directly affected the supply of European crude oil, some media yesterday shouted "may cause an oil crisis" and said that they should "be prepared for the oil crisis." The market is also worried about whether the sharp rise in oil prices will affect the progress of the global economic recovery. Some agencies predict that if the price of crude oil rises further by 10 US dollars, the U.S. economic growth rate will be reduced by 0.5 percentage point in the next two years.

However, Han Xuegong believes that there is no need to worry too much. The price of crude oil has been rising for a long time. The recent sudden rise has not changed the supply fundamentals of the entire crude oil market.

Domestic oil companies to accelerate the attack?

Some analysts believe that accompanied by the rise in international oil prices, the recent international oil giants are beginning to accelerate the seizure of local oil and gas resources, and among these, domestic oil companies have also performed very eye-catching.

China National Petroleum Corporation announced on the previous day that China National Petroleum Corporation will establish a joint venture with Kazakhstan's national oil and gas company to jointly explore and develop the Urih set gas field in Kazakhstan. Both parties have signed an agreement on cooperation and development. On the same day, Sinopec announced that the company’s affiliated International Petroleum Exploration and Development Co., Ltd. and the U.S. Western Oil Company (OXY) formally completed the delivery of the Argentine company’s acquisition project.

On the same day, PetroChina also announced that the China Overseas Petroleum Planning and Research Center, jointly established by the Overseas Exploration and Development Corporation and the Planning General Institute, was officially listed. PetroChina said that in the next five years, it will build "international oil" and make overseas oil and gas the "half of the country" where CNPC contributes its oil and gas to the country.

Overseas expansion of oil companies is relatively mature

In fact, since 2010, the pace of overseas expansion of the three major domestic oil companies has accelerated significantly. Take CNPC as an example. At present, the company's overseas business has entered seven countries and has won and signed 30 oil and gas projects. Since 2009, new project development has achieved major strategic successes in the Middle East, Central Asia, and the Americas. Breakthrough.

“2010 was a good harvest year for domestic oil companies' overseas mergers and acquisitions. The wave of mergers and acquisitions in full swing has come in 2010 and will continue in 2011.” Luo Zuoxian, a senior economist of the Petroleum Exploration and Development Research Institute of Sinopec, wrote in a recent article, “Post-Finance The "crisis era" gave domestic oil companies good opportunities for expansion.

“Actually, this is a long-planned strategy. Acquisition expansion is also gradually entering developed regions from underdeveloped regions.” Han Xuegong said that compared to other industries, the overseas expansion of the domestic oil industry has had a more mature approach and expansion pace. It is also relatively smooth. “Current overseas oil revenue of PetroChina already accounts for more than one-third of its total revenue.”