From the retail point of view, the two major groups accounted for half of the share; from the perspective of wholesale, the two major groups accounted for two-thirds; from the perspective of storage, the two major groups accounted for only two-fifths; from the perspective of oil refining, in addition to two Large companies and other companies also have large refining capacity. Therefore, it cannot be said that there is a monopoly in the Chinese oil industry.
“In theory, the monopolization of the two major groups of PetroChina and Sinopec is untenable, but the theory that the market is highly concentrated is established. Because of this, the price of oil is not fully market-oriented until now.†September 22 At the Second China-Arab Economic and Trade Forum, Dong Xiucheng, director of China Petroleum University Development and Research Center for China's Oil and Gas Industry, said when asked by a reporter from Caijing.com.
He believes that the current oil price management measures have gone one step further than the original price formation mechanism. Next, the general direction of the revision and improvement of the current oil price management measures is to go to the market, but not to fully marketize. The reason is that the current Chinese oil market is relatively highly concentrated. He does not agree with the use of "monopoly" to describe Sinopec and PetroChina.
He explained that a high degree of concentration refers to the fact that a few large companies dominate the market, and the use of “monopolies†for two major groups is legally problematic. From the retail point of view, the two major groups accounted for half of the share; from the perspective of wholesale, the two major groups accounted for two-thirds; from the perspective of storage, the two major groups accounted for only two-fifths; from the perspective of oil refining, in addition to two Large companies and other companies also have large refining capacity. Therefore, it cannot be said that there is a monopoly in the Chinese oil industry.
“In theory, the monopolization of the two major groups of PetroChina and Sinopec is untenable, but the theory that the market is highly concentrated is established. Because of this, the price of oil is not fully market-oriented until now.†September 22 At the Second China-Arab Economic and Trade Forum, Dong Xiucheng, director of China Petroleum University Development and Research Center for China's Oil and Gas Industry, said when asked by a reporter from Caijing.com.
He believes that the current oil price management measures have gone one step further than the original price formation mechanism. Next, the general direction of the revision and improvement of the current oil price management measures is to go to the market, but not to fully marketize. The reason is that the current Chinese oil market is relatively highly concentrated. He does not agree with the use of "monopoly" to describe Sinopec and PetroChina.
He explained that a high degree of concentration refers to the fact that a few large companies dominate the market, and the use of “monopolies†for two major groups is legally problematic. From the retail point of view, the two major groups accounted for half of the share; from the perspective of wholesale, the two major groups accounted for two-thirds; from the perspective of storage, the two major groups accounted for only two-fifths; from the perspective of oil refining, in addition to two Large companies and other companies also have large refining capacity. Therefore, it cannot be said that there is a monopoly in the Chinese oil industry.
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