Subscribe | Register | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Asian gas industry group counts on rising demand
Regional industry body ANGEA remains bullish about Asia's adoption of gas and LNG, despite elevated prices and logistical challenges
Appalachia’s gas faces infrastructure challenge
Bottlenecks continue to constrain gas-rich Appalachia, and relief may not be in the pipeline
Brent without Brent: The role of North Sea oil in global prices
The inclusion of WTI Midland in the Brent benchmark has boosted volumes, but with Brent blend taking a backseat, why not just use WTI as the global benchmark?
The oil market’s new polymorphism
From crude flows to oil prices, S&P Global Commodity Insights highlights the market’s ability to overcome adversity, albeit with costs involved
Markets facing distillate squeeze
Crude production cuts and refinery outages mean high prices are looming for heating oil and diesel this winter, and greater shale output will do little to help
Gas remains crucial to Southeast Asia’s energy balancing act
The fuel will have a continuing role to play as the region seeks to balance growing energy demand with targets to reduce emissions
Lack of oil and gas investment could be serious issue, warns IEF’s McMonigle
Secretary General believes linear and ideal forms of energy transition will be difficult to achieve especially with false narratives around peak oil demand
Gas prices continue to burden European industry
Almost a year-and-a-half after Russia invaded Ukraine, elevated gas prices continue to impact the competitiveness of European industry, especially relative to the US
US SPR squeezes Saudi economy
Action by consuming governments has shown they can significantly affect oil prices and put a spoke in OPEC’s wheels
Europe’s gas pivot and Asian demand boost global midstream
Europe has been hastily building out LNG and pipeline capacity since Russia’s invasion of Ukraine, while demand is rising in Asia
Petrochina has squeezed city gas distributors further by raising prices for contractual volumes
Opinion
China Gas Markets
Shi Weijun
Shanghai
10 May 2023
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Letter from China: Price controls squeeze gas suppliers

Incomplete price reforms pose problems for both upstream and downstream players and threaten further shortages

Ten years after they began, unfinished reforms to gas pricing in China have pitched the country’s state-controlled upstream producers against downstream city gas suppliers, within a complicated system that is slow to reflect changes in international prices. Chinese utilities such as China Gas Holdings, Kunlun Energy and ENN Energy buy most of the gas they sell from NOCs Petrochina, Sinopec and Cnooc. Towards the end of every March, the NOCs and utilities sign sales contracts that cover supply for the next 12 months, including the summer and winter peak demand seasons, when consumption spikes for cooling and heating purposes respectively. Petrochina has suffered multibillion-dollar loss

Also in this section
Libya targets 2m b/d oil before 2030
28 September 2023
Oil minister Oun sends out cautiously optimistic message on oil and gas outlook and says pilot project ready to unlock huge shale reserves key to further growth
Asian gas industry group counts on rising demand
27 September 2023
Regional industry body ANGEA remains bullish about Asia's adoption of gas and LNG, despite elevated prices and logistical challenges
How the Yom Kippur war changed OPEC
26 September 2023
Half a century after the 1973 conflict, the world is dramatically different. But OPEC’s power remains
Appalachia’s gas faces infrastructure challenge
26 September 2023
Bottlenecks continue to constrain gas-rich Appalachia, and relief may not be in the pipeline

Share PDF with colleagues

COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Send
Sign Up For Our Newsletter
Project Data
Maps
PE Store
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2023 The Petroleum Economist Ltd
Cookie Settings
;

Search