ABSTRACTS OF ARTICLES

1 Review of Oil and Gas Pipeline Network in the 13th Five-Year Plan and Prospect in the 14th Five-Year Plan in China

Han Jingkuan, Li Yutian

With the establishment of China Oil & Gas Pipeline Network Corporation,the construction of national pipeline network will enter the third stage of rapid-development. This paper reviewed challenges and opportunities brought to the construction of national pipeline network in the 13th Five-Year Plan and pointed that opportunities outweighed challenges. It proposed the characteristics of oil & gas pipeline network with strategic planning, optimal layout, interconnection, efficient operation, open & transparent service platform during the 14th Five-Year Plan. Finally,the development emphasis of crude oil, refined oil and natural gas pipeline network in next five years was prospected.

5 Comparative Analysis on Characteristics of M & A Evaluation of Oil Price and Economic Evaluation Parameters of Oil Price of Investment Project

Xu Dong, Zhu Wei, Li Xiaoyang, Yang Meiduo, Gong De

This paper an alyzed global upstream merger and acquisition (M & A)analysis reports of Wood Mackenzie, domestic literature researches regarding M& A international benchmark crude oil prices annual data and its trend since 2005. It summarized ch aracteristics of th eimplied lon g-term olprice (ILTOP) system.Meanwhile, a comparative analysis was carried out with the decision-making oil price of financial evaluation of investment project in order to help domestic oil companies,research institutions and scholars to better underst and ILTOP system. The study objective is to continuously improve the quality and efficiency of domestic oil companies in the areas of global oil and gas M & A market in future, enhance the overall development, utilization and abilities of global oil and gas resources allocation,improve the levels of international operation, and ensure safe supply of oil and gas in China for a long time.

13 Analysis and Forecast on Domestic Refined Oil Market in the Year of 2021

Kong Jinyuan, Qi Chao, Luo Yantuo, Zuo Mingming

In 2020, COVI D-19-related reductions in economic activity decreased demand for refined oil demand and hindered refined oil export. It was estimated that domestic refined oil consumption dropped by 4.6% with a 4.1% Y-o-Y decline of production and the diesel to gasoline consumption ratio reaching 1.11 in 2020. In addition, refined oil industry was facing a serious contradiction of oversupply with new production capacity put into market continually. In 2021, strong economic growth momentum and fast growth trend of demand for refined oil will increase the demand for refined oil. It prospected apparent consumption of domestic refined oil will reach 342 million tons with a Y-o-Y increase of 6.0%, and diesel to gasoline consumption ratio will drop to 1.07. Meanwhile, the paper estimated the refined oil production oversupply to be 70 million tons.

29 Upstream Oil and Gas Companies’ Consideration on Challenges of Long-term Low Oil Price

Li Chengming

Under the pressure of both consumer side and supply side, major oil companies in the world are facing two major challenges of long-term low oil price and sh rinking market demand. The integrated oil companies with a complete industrial chain have abilities to avoid risks better than typical upstream exploration and development companies. With oil price recovering and stability, it is expected to take the lead in improving re fined oil products and sales. Based on historical experiences, oil price drop is bound to have greater impacts on development of the whole upstream business. This paper analyzed the impacts of plunging oil price and long-term low oil price. It discussed strategies of reducing cost and increasing benefit activities in the short-term, developing high-quality company in the medium-term and industrial transformation and upgrading in the long-term to help typical upstream oil& gas companies to face challenges of low oil price.

32 Research on Theory of Strategic Planning Management of State Owned Companies

Feng Jingxuan, Zhang Junxian

“Strategy” is the goal of long-term development of enterprises, indicating the direction of development, while “Planning” is the basis of implementation of the strategy. The key to solve the problems of strategic management for state owned company is “strategic planning management”, which is a management system to achieve enterprises objectives. This paper discussed characteristics and principles of strategic planning management in theory and summarized five characteristics and two basic theories. Understanding the characteristics and principles helps enterprises to improve the management level, strengthen control capabilities of strategic management, and ensure to achieve strategic objectives.

37 Discussion on Comprehensive Evaluation Method of Refined Oil Transportation Agents

Liu Yuhan, Xu Jingbo, Cheng Xiaochun

Aiming at evaluation and decision-making problems of transportation agents of refined oil, a comprehensive evaluation index system was established. Based on actual business data of enterprises, the optimal multi-index comprehensive evaluation of transportation agents was estimated by utilizing decision-making tools of AHP and TOPSIS. The evaluate results showed that the method was accurate, easy to operate and eluded from artificial interference. It may be a certain reference for enterprises to evaluate the capacities of transportation agents.

41 Discussion on Feasibility of Localization of CALM Single Point Mooring System in China

Cai Shiliang

CALM singlepo int mooring system is widely used in off shore oil transportation terminal in the world, which has the advantages of simple structure, no occupied waterfront resources, low investment, short construction period, safety and environmental protection, etc. So far, there are more than 500 suits of CALM systems are in use in the world, including 2 suits applied in China. The major spare parts are imported for these two suits. Home-made CALM system is significant to ensure China’s energy security, prevent technology blockade from other countries, and promote CALM technology applied in China. This paper introduced the feasibility studies of home-made CALM system in the areas of design, construction, operation and spare parts supply, and it provided suggestions regarding localized CALM system to relevant national departments.

48 Calculation Model of Emulsified Water Cut of High Water Cut Crude Oil at Low Temperature

Zhang Yan, Huang Qiyu, Kong Weimi, Cui Yue, Cheng Xianwen,Li Xiaoyu, Lv Yang, Zhang Xun, Shi Hao, Zhu Xiangrui, Shan Jinxu

At present, China’s oilfields have gradually entered high water cut stage. It is quite possible that gathering-transportation temperature of high water cut crude oil drops at pour point or below. Since there was no suitable method of calculating water cut of emulsion, a calculation model study on water cuts of crude oil-water emulsions was carried on various water cuts from 70% to 95% and crude oil at low temperature(10 ℃ below pour point ～ 5 ℃ above pour point). Through single-factor experiment on influence of shear rate, temperature and comprehensive emulsified water cut of crude oil, it was concluded the emulsified water cut increased with decreasing temperature at above pour point, decreased with decreasing temperature at below pour point and the emulsified water cut gradually decreased with comprehensive water cut increasing. It also showed the emulsified water cut increased gradually with increasing shear rate and the rising range changed from small to large and then small.According to experimental results, a calculation model was established. The average relative error between calculated values and experimental values was 9.01%. This model was of great significance to development of gathering-transportation at low temperature.