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��Home>>Business
Oil refining companies still make losses
www.chinanews.cn 2006-04-25 15:05:12
Chinanews, Beijing, Apr.25 (By Yu Jingbo) - It was learnt yesterday from
the conference on economic operations convened by the National
Development and Reform Commission (NDRC) that owing to the obvious oil
product price gap between the Chinese market and the international
market, domestic oil refining companies are still making losses on the
whole and facing tremendous pressure on ensuring domestic refined oil
supply.
Zhu Hongren, deputy director general of the NDRC Bureau of Economic
Operations, said that in the first quarter, China's supply and demand of
coal, electricity, oil and transportation continued the trend of last
year, and the tension was obviously alleviated compared with the same
period last year.
Nonetheless, Zhu stated at the same time that though the tension has
eased up as a whole, the conflict between supply and demand will be hard
to eliminate fundamentally in a short period; therefore the pressure on
guaranteeing domestic oil product supply will remain tremendous.
Zhu indicated that China would closely track and monitor the influence of
changes in the international oil market and adjustments of domestic oil
product prices on domestic oil product supply, reinforce overall
regulation on the operation of the petroleum and petrochemical industry,
and guarantee oil supply in key regions.
On March 26, China carried out the first oil product price adjustment
this year. In order to make sure the smooth implementation of the
comprehensive scheme to reform the oil price forming mechanism and the
oil product price adjustment measures, prevent certain oil product
dealers from adjusting prices without approval of relevant authorities,
NDRC recently issued an urgent notice to conduct a nation-wide oil
product price inspection.
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