After Iran deposited tens of millions of barrels of crude oil in China, China discovered an oil field of one billion tons

Number according to the last week of the previous period provided to the BWC Chinese hundreds of reporters, according to data the crude oil options listed since June 21 listed overseas investors to actively participate in, the preliminary pricing market function, data also showed that another financial products of crude oil, the crude oil futures, trading volume is also strong, first six months of 2021, The total transaction volume is 21.523 million lots, amounting to 8.6 trillion yuan, second only to WTI of the United States Brent of the United Kingdom. At present, 72 overseas intermediaries have completed the record, distributed in 25 countries.

China is the world's largest importer consumer of crude oil, Chinese energy enterprises have a huge demand for international crude oil price risk management. At present, the yuan, crude oil futures trading volume is strong, has already started to drive the markets such as Europe the United States night disk activity, even let us traders frequently at the night plate, Reuters said recently, then, China will use the massive buying imported oil, so far, means crude nova petroleum RMB currency is rising quietly.

Represented by "black gold" oil, in fact, the world economy, is what kind of products can be comparable, but we didn't get the crown jewels - the international crude oil pricing power, at the same time, the strategic petroleum reserve is indispensable economic blood, to guarantee the stability of several sectors of the economy, energy supply is of great significance in such aspects as oil prices.

So how many days will China's strategic petroleum reserve last in the event of an emergency, such as an oil supply disruption? Compared with the United States, Japan the existence of a gap, according to Reuters quoted the estimate of the international petroleum group statistics, in the United States can support about 149 days, Germany is 100 days, while the Japanese enough support to 150 days, however, due to the oil reservoir has been rarely reported in China, it naturally attracted the including the United States, Japan other international oil companies.

In a report published a week ago, CLSA analysts estimated China's current strategic oil reserves at about 80 to 90 days. Coincidentally, the National Energy Administration said in September that China's commercial strategic crude stocks were both about 80 days of net imports.

China imported 260 million metric tons of crude oil in the first half of 2021, reaching 10.51 million barrels a day, Reuters reported a week ago, citing customs data. Chinese refineries also processed 14.8 million barrels a day in June, a record high, bringing the average output in the first half of 2021 to 15.13 million barrels a day. That's up 10.7 percent last year.

We query to the Ministry of Commerce on its website in 2017 published a news that China has now completed 9 big national reserve base, Reuters quoted in June, according to a report by may, including folk refinery, China has stockpiled about 270 million tons of crude oil, exceed market expectations, but the Chinese 500 million barrels of reserves have already completed the 56% target.

Shanghai Yangshan Port oil warehouse

However, the reserves still fall short of the international Energy Agency's 90-day safety threshold for strategic petroleum reserves. According to a blue paper released by the China Petroleum Enterprises Association, China's dependence on foreign crude oil has risen to 65.4 percent in a row, compared with the United States' all-time high of 66 percent.

Reuters said speculation, is well known that at present China is still in the reserves to improve the way to the equivalent of 90 imports, in recent years, China's oil companies have begun to acquisitions invest a large amount of oil gas fields in the whole world, is widely expected, most of the crude oil is actually entered into a strategic petroleum reserve, Last year, it took advantage of low oil prices to secure three times as much crude as before.

In addition, a Chinese logistics company plays a central role in Iran's oil trade, the Iranian National Oil Company has been storing crude oil in bonded warehouses in Asian markets for months to prevent it losing foreign customers due to dollar restrictions, Russia's Sputsky news agency reported on July 27. This includes Iran storing more than 20 million barrels of crude oil in a bonded warehouse in Dalian to decide whether to sell to Chinese customers other foreign customers, providing an option for Iran to continue exporting oil.

This photo shows the size of the Iranian tanker

only hereat, according to petrochina announced in a week ago, after six years of concentrated exploration, in hinterland of the taklamakan desert regions of full, found a 10 YiDunJi lard QiTian District, ultra deep data show that tarim basin is a large Chinese oil gas basin, the oil gas resources in more than 6000 meters depth respectively 83.2% 63.9% in China. In the first five months of 2021, Tarim Oilfield produced 13.7 million tons of oil gas, up 540,000 tons year-on-year.

it was long ago, according to petrochina xinjiang oilfield company said in a news release, with the help of a new generation of shallow heavy oil, upgrade SAGD development of this technology, the crack problem of this development, at present, the company cumulative output has exceeded 100 million tons of heavy oil, the implementation of new recoverable reserves of 200 million tons, built China's bigger high quality heavy naphthene base oil field production base, Naphthenic heavy oil is known as the rare earth in petroleum is a strategic raw material for national economy major engineering construction.

However, there is still some debate about whether China needs to build strategic oil reserves of more than 90 days given the improvement of oil exploitation technology, the discovery of new oil gas resources of one billion tons the replacement of new energy sources.

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Source: China Energy Network