An analyst at Essence Securities said that the "oil and gas reform" has been demonstrated for more than three years and is about to enter the substantive operation stage. The implementation of relevant policies in the near future will accelerate the resolution of the contradiction between growth and surplus. At present, the global oil and gas supply continues to be loose, in order to improve the efficiency of oil and gas development and accelerate the integration with the international crude oil market. Allow qualified market participants to participate in conventional oil and gas exploration and development, and gradually form an exploration and development system led by large state-owned oil and gas companies and involving various economic sectors.
It is noteworthy that in deepening the reform of state-owned oil and gas enterprises and fully releasing the vitality of key oil and gas enterprises, the Opinions propose to improve the corporate governance structure of state-owned oil and gas enterprises and encourage qualified oil and gas enterprises to develop equity diversification and various forms of mixed ownership. At the same time, it is necessary to promote the professional reorganization and integration of state-owned oil and gas enterprises, support the professional reorganization of engineering technology, engineering construction and equipment manufacturing, and participate in the competition as an independent market entity. Promote state-owned oil and gas enterprises to "slim down and keep fit", support state-owned oil and gas enterprises to divest themselves of social functions, and solve problems left over from history in various ways.
An analyst at CITIC Securities said that the professional restructuring of state-owned oil and gas enterprises has been basically completed. At present, Sinopec Refining and Chemical Engineering, Petrochemical Oil Service and Petrochemical Machinery under Sinopec, CNPC Engineering and CNPC Capital under PetroChina, and cosl and CNOOC Engineering under CNOOC are all independent listed companies, and their participation in international market competition has also been improved to varying degrees. It is expected that Sinopec Sales Company will be listed in Hong Kong on 20 18.
Han Cong, an analyst at Jinlianchuang, said in an interview with the Securities Daily that from 20 14, "three barrels of oil" had been tried first. For example, Sinopec took the lead in promoting the reform of mixed ownership, and the sales company introduced private capital and successfully went public independently. Subsequently, PetroChina began asset restructuring, and the engineering construction and financial business sectors are expected to be integrated, restructured and listed. After Sinopec and PetroChina successively announced the "mixed reform" plan, CNOOC also made preparations for reform and promoted the restructuring of its refining and sales sectors.
The Opinions also proposed to promote the professional reorganization and integration of state-owned oil and gas enterprises. For example, Sinopec integrated the oil service plate and equipment plate into professional companies respectively; PetroChina also integrated the pipeline, engineering construction and financial sectors respectively. Previously, the news of the merger of Sinochem and Sinochem broke out again, and the reorganization of oil and gas enterprises may also be the direction of later reform. In addition, oil and gas enterprises bear too many social functions due to historical reasons, and it is also the focus of reform to return them to the government or the market later. "Han Cong said.