Is it a misunderstanding or a flicker for foreign oil giants to import 80 yuan into a Chinese box of oil?

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 Is it a misunderstanding or a flicker for foreign oil giants to import 80 yuan into a Chinese box of oil?


Ultra low oil prices are actually promotions, and it is unrealistic to expect foreign capital to enter the market and reduce oil prices.

The price of oil is a sensitive figure for Chinas 385 million motor vehicle drivers.

Therefore, on September 8, when Sanyuanli store, the first domestic gas station of Gulf Petroleum, opened in Guangzhou, customers flooded in and vehicles queued up. The excited crowd is not due to the Manchester United star York, but because of ultra-low oil prices.

The price of No. 95 gasoline is 6.59 yuan / liter, and the price of No. 92 gasoline is 5.96 yuan / litre. According to the propaganda of Gulf oil, the market price dropped by 1.6 yuan per litre. According to the 50L capacity of the general household car fuel tank, it is about 80 yuan to add a box of oil.

It is worth noting that the ultra-low oil price of Gulf Oil is only a three-day concession, not a long-term price in the future. After the promotion, oil prices have returned to the normal market price.

Gulf oil prices return to the market price (every reporter Qiu Dekun photo)

However, Gulf Oils marketing campaign can blow up the network, and also reflects the desire to see more competition in the oil product market, thereby making consumers profitable and enjoy affordable oil prices. Can Gulf oil become a catfish that churn domestic oil prices?

After the end of the sale, the oil price returned to normal.

On the afternoon of September 13, at the convenience store entrance of the Sanyuanli gas station in Gulf Oil, there were still promotional announcements for the opening period.

Daily Economic News correspondent saw that between 11:00 on September 8 and 11:00 on September 11, at the Sanyuanli Gas Station in the Gulf Oil, a direct drop of 1.6 yuan / liter (how much cash vouchers to add), free car washing, recharge gifts. Among them, Hao Li 1, charge 1000 yuan to send 799 yuan gift bags, including: a recharge card (1089 yuan), a bottle of Xinghua Village Liquor (498 yuan), Hengda Ice Spring (72 yuan), car washing card 4 (140 yuan).

Every reporter Qiu Dekun photo

This means that, together with the relevant recharge concessions, the car owner to come here to refuel the price, will be lower than 1.6 yuan / litre more favorable.

However, the retail price of oil products at the Sanyuanli gas station in the Gulf has kept pace with the retail price announced by the National Development and Reform Commission (NDRC) with the end of the operation. On September 13, the reporter saw on the sign at the entrance of the gas station, 95 gasoline for 8.19 yuan / liter, 92 gasoline for 7.56 yuan / liter.

The changes in the price of oil products in the Gulf have caused much discussion on the Internet. In September 14th, the Guangzhou Municipal Development and Reform Commission said:

Recently, the development and reform departments (price authorities) have appeared on the Internet to intervene in the price preferential activities of Sanyuanli Gas Station in Yuexiu District, Guangzhou, Gulf Oil Company since it opened on September 8, 2018. After verification, all levels of development and reform departments (price authorities) have not conducted any price law enforcement and price intervention, Gulf Oil Guangzhou Yuexiu District Sanyuanli Gas Station oil price adjustment belongs to its enterprise behavior.

Our side is the main service. Officials at Sanyuanli Gas Station in Gulf Oil say their service is superior to those at home, mainly to give owners a better feeling. He introduced that the gas stations oil procurement channels from the three barrels of oil, in terms of cost, and other gas stations do not have much difference.

It is reported that the Gulf Oil and Guangzhou gas stations are actually adopting a brand authorized cooperation model, that is, to provide Gulf Oil operations, management and quality control and other brands and standards.

We should first introduce their popularity and management to see if there is any merit in promoting them. The person in charge of Sanyuanli Gas Station of Gulf Oil said that the future will depend on the direction and deployment of the Gulf Oil Headquarters and whether it will invest in the construction of oil depots in China.

In order to attract customers, the Gulf Oil Sanyuanli Gas Station closed its business offer, but the membership offer began again. According to the Gulf Oil Sanyuanli gas station staff, as long as the owner registered as a member on Wechat, gas can be discounted 1 yuan / liter.

Every reporter Qiu Dekun photo

Gulf oil Sanyuanli gas station responsible person said, now there is a discount platform. This is Gulf Oils first gas station in the country, and now mainly solicits customers around the membership to create a brand first.

International oil giants are stepping up their way to China.

Gulf Oil, founded in 1901, is an old-fashioned oil company. In 1984, Sinduka Group acquired the present Gulf Oil Company from Chevron Group. At present, Gulf oil headquarters is located in London, London, and its branches are located in more than 100 countries and regions.

As early as 1995, Gulf Oil has entered China, before the business of automotive lubricants and industrial lubricants mainly.

For the Chinese market, Gulf oil has its ambition. Gulf Oil has proposed a preliminary plan to establish a network of 1,000 to 1,200 brand gas stations in China in the next 10 years. Gulf Oil Sanyuanli gas station staff told reporters that the Gulf Oil in the countrys second gas station, will soon open.

Every reporter Qiu Dekun photo

And Gulf oil can put forward the above plan, can not do without the relaxation of national policy. Previously, the Several Opinions on Deepening the Reform of Petroleum and Natural Gas System pointed out that it would deepen the reform of downstream competitive links and enhance the production and supply capacity of high-quality oil and gas products.

Subsequently, the implementation of specific policies. The Special Administrative Measures for Foreign Investment Access (Negative List) (2018 edition) issued on June 28 this year abolished the restriction on the construction and operation of chain gas stations with more than 30 branches set up by the same foreign investor and selling different types and brands of refined oils from multiple suppliers, which must be controlled by the Chinese side.

After the boots fell to the ground, including Shell, BP, Dodal and other international energy giants, have accelerated the pace of entering the Chinese market. In June this year, BP executives announced that in the next 5 years, BP will add 1000 gas stations in China.

Can foreign capital stir up the Chinese market?

Since 2018, the international crude oil price has been on the rise. As of September 3, the domestic refined oil price adjustment has shown a pattern of ten rises and six falls and one strand. The gasoline price has risen by 955 yuan per ton and the diesel price has risen by 915 yuan per ton.

WTI crude oil futures trend in recent 1 years

Some consumers expect foreign oil giantsentry into the gas station market to have a catfish effect and increase market competition, thereby making oil prices more affordable.

In fact, the domestic gas station market structure is still held by PetroChina and Sinopec. According to statistics, by the end of 2017, the total number of gas stations in China was about 100,000, the China Petroleum and Petrochemical News reported. Among them, CNPC has about 22,000 gas stations, accounting for 21.38%; Sinopec has about 31,000 gas stations, accounting for 31.61%.

This means that more than half of the gas stations in China belong to PetroChina and Sinopec.

So after the relaxation of the policy, can the foreign capital layout the domestic gas station market massively, make the above pattern change?

Actually, I didnt want to compete with them. The head of the Gulf Oil Sanyuanli gas station said that the domestic market has a big cake and there are now many types of capital entering.

An industry practitioner believes that, from a strategic point of view, there is competition to progress, but in the same industry, everyone has different positioning and customer base, different strategies and rhythm, her company is a Sino-foreign energy joint venture, but also a small player in the industry. In the whole market, big players and small players have different ways of playing, they will adjust according to their own brand and positioning to respond to changes in the market, trying to be small and fine or small and beautiful.

Photo source: visual China

Zhuochang information analysis believes that the end market of oil products is a heavy asset industry, the core competitiveness lies in resources, networks and brands, after more than ten years of development, domestic enterprises occupy an absolute advantage in these areas. Therefore, foreign-funded enterprises may seize part of the market share by taking the high-end differentiation route, but it is difficult to challenge. The current competitive situation in China. However, since foreign-funded gas stations have developed relatively early in the fuel market, they can certainly learn from each other in terms of service attitude and operation mode. They will also play an important role in promoting Chinas fuel market, making them competitive in Chinas gas station market and serving each gas station itself. Quality improvement is also very beneficial. Source: Daily Economic News Editor: Yang Yi _NBJ10647

Zhuochang information analysis believes that the end market of oil products is a heavy asset industry, the core competitiveness lies in resources, networks and brands, after more than ten years of development, domestic enterprises in these areas occupy an absolute advantage.

Therefore, foreign-funded enterprises may seize part of the market share by taking the high-end differentiation route, but it is difficult to challenge the existing domestic competition pattern. However, since foreign-funded gas stations have developed relatively early in the fuel market, they can certainly learn from each other in terms of service attitude and operation mode. They will also play an important role in promoting Chinas fuel market, making them competitive in Chinas gas station market and serving each gas station itself. Quality improvement is also very beneficial.