Today's oil price
Beck Hughes, an oil field technology service company, published data on the same day, showing that the number of oil fields operated in the United States was 798 in the week up to March 29th, down by 6 from the previous week, for the first time in three weeks. By the end of the day, the New York Mercantile Exchange's May light crude oil futures price rose 0.56 U.S. dollars, closing at 64.94 dollars per barrel, or 0.87%. Brent crude oil futures for May delivery rose 0.74 US dollars to close at $70.27 a barrel, or 1.06%.
Wang Yongchun, the former deputy general manager of China Petroleum and natural gas group, one of the key figures in the PetroChina corruption case, was sentenced to 20 years in prison for the crime of bribery, unidentified sources of property and the abuse of power by state owned companies in October 13, 2015. After being sentenced, he has served in Qincheng prison Yan City prison. In March 29th of this year, Wang Yongchun was sentenced to 7 months' imprisonment and his time of imprisonment was changed to December 3, 2033 after the sentence was commuted.
From March 28th to April 3rd, President Haag Geingob of the Republic of Namibia paid a state visit to China. During that time, hag root went to China University of Geosciences (Beijing), and he received an honorary doctorate degree and delivered a speech. Haag Geingob said in his speech that he was very honored to be awarded the honorary doctorate degree of China University of Geosciences (Beijing). He said that Namibia is currently in the environment, energy and other aspects of the need for the help of geological professionals, the sincere welcome to the large teachers and students can travel to Namibia to spread knowledge.
Energy information in China
This year, China will choose RMB instead of US dollar for foreign oil trading, which is also a significant development of the government's efforts to establish RMB mechanism internationally. According to people, the pilot plan for the RMB payment is likely to be launched in the second half of this year, and regulators are also informally demanding a few financial institutions to prepare for the price of China's crude oil imports. China is the second largest oil consumer in the world. In 2017, it overtook the US as the largest importer of crude oil, and its demand is the key determinant of global oil price. This initiative marks an important step in the recovery of the currencies of the second largest economies in the world after several years of re taking measures. If successful, it will also trigger other product payments to the renminbi, including metal and mining raw materials, and help to break the dominance of the dollar and improve the liquidity of the renminbi in the global market. (CNBC)
In March 28th, Changqing Oilfield Company transportation management information platform to promote the site will be held in the six production plant in Dingbian base. At the meeting, the six oil production plant, the five oil production plant and the eight oil production plant have been introduced as the pilot units successively. Each participating unit exchanges the problems in the process of construction and use of the platform in depth and puts forward suggestions and suggestions. The relevant departments of the oilfield company give a response to the problems one by one.
This week, China's crude oil contract launched in Shanghai futures trading allows investors to make use of the dynamic difference between supply and demand in the world oil market for the first time when investing. So far, the oil market has been dominated by two kinds of Financial Futures: WTI and European Brent, the major indicators of the United States and Europe. Though Asia is the largest and fastest growing oil consumer in the world, Asia still lacks financial instruments. China's oil demand accounts for more than 1/4 of the total consumption in Asia, which is close to 1/10 of the world's total consumption. The success of the Shanghai futures market means that the three largest oil markets in the world - the Asia Pacific region, Europe, the Middle East, Africa and the Americas - have a benchmark that reflects the different supply and demand factors. The main advantage of having global available crude oil futures is that financial traders can use arbitrage transactions to use regional price differences rather than to invest in real oil or operating assets (such as oil tankers, oil fields and refineries). (petroleumworld)
Low price, stable supply and clean environmental protection are the ultimate pursuit of energy for human society. Zheng Xinye, a researcher at the national development and Strategic Research Institute of Renmin University of China, called it energy "Impossible Triangle". The staff of the National Institute for development and strategic research at the Renmin University of China said that the problem of reducing emission and low energy costs still exists. The government and the public need to tradeoff between the scale of economic growth, the cost of energy use and pollution control and emission reduction in the scale of economic growth, the cost of energy consumption and the reduction of pollution and emission reduction under the established goals and constraints. Zheng Xinye suggested that, after the efficiency of the energy economy, the government can give up support for the production, transportation, consumption and import and export of high energy consumption industries to reduce the pollution of high energy consumption industries, and reduce the energy demand by reducing the proportion of high energy consuming industries in the economy. (China Energy Network)
International Energy Information
According to people familiar with the matter, President Donald Trump's adviser urged him to take Congress to take the lead in reducing the cost of the biofuel policy of the oil refiners, and to use administrative means only if the legislation failed to make progress. The renewable fuel standard is a 10 year law that requires refineries to incorporate the price of mixed biofuels, such as corn ethanol, into the fuel supply system. This law has created a lucrative market for growers, but for refiners, this is a difficult problem, because they think the cost is too high. (CNBC)
According to Bloomberg, because of the gradual slowdown in the domestic economy since last year, high debt households cut spending and banks generally raised interest rates, and Canada's gross domestic product fell unexpectedly in January. Among them, the mining industry has been decreasing for fourth consecutive months, while the oil and natural gas production has decreased by 3.6%, the largest monthly decline since May 2016. According to Statistics Canada, the output of oil sands has been reduced by 7.1% due to planned maintenance and parking. Nevertheless, the overall slowdown since the second half of last year remains unchanged in 2018. (worldoil)
Official data show that wind power generation and solar panels generated the first time over the end of last year, exceeding the 8 nuclear power plants in the UK. Greenhouse gas emissions in Britain are also decreasing. By 2017, they dropped by 3%, because the use of coal decreased and the use of renewable energy increased. In Britain, the largest drop in energy emissions is 8%, while traffic and business pollution is flat. Those data indicate that the government should reconsider the ban on land based wind power subsidies. (The Guardian))
The southern natural gas Corridor project is one of the key projects of the European Union. It transported 10 billion cubic meters of Azerbaijan natural gas to Europe through Georgia and Turkey. Azerbaijan produces oil and natural gas and delivers them safely to all parts of the world, which contributes greatly to energy security in Europe and the whole world. The United States sees the potential of Azerbaijan as an energy supplier, as well as geopolitical and geopolitical realities, which are likely to increase the us to increase its further contacts in the energy field in Azerbaijan. (Trend)