National II diesel fuel will come soon

Starting from July 1, National Diesel will launch the National III standard, and the National II diesel will fully exit the market. On June 2nd, a reporter of “Daily Economic News” learned from PetroChina and Sinopec that most of the “two barrels of oil” refineries already have the capacity to produce State III regular diesel, and have started to convert to State III regular diesel, which is sold all over the country. The company is currently actively clearing the old standard diesel.

Industry analysts believe that since the beginning of this year, the demand for the diesel market has been sluggish. The "two barrels of oil" inventory is high, and the wholesale price "falls and turns". The old standard diesel clearing house will further suppress the wholesale price of diesel in the market, and the national standard III standard diesel will be listed. It is also difficult to achieve "high quality and excellent prices."

The two giants Puchai upgraded and started in accordance with the regulations of the general diesel national standard GB252-2011. Starting from July 1, 2013, the standard content of standard diesel oil has been reduced from not more than 0.2% to not more than 0.035%, equivalent to the current market III. Automotive diesel * standard content. After the upgrade is completed, the difference between the domestic vehicle diesel fuel and the ordinary diesel fuel is mainly on the cetane number. The cetane number requirement of the national III vehicle diesel fuel is not less than 49, and the cetane number requirement of the common diesel fuel is not less than 45. The transitional period of State III vehicle diesel was terminated at the end of June 2011.

At present, most refineries of Sinopec and CNPC have the capacity of producing country III Puchai, and in May they have already started to convert the country to Puchai, making preparations for the preparation of replacement oil reserves for mid-stream companies.

An Xun Sixiwang Energy, an analyst, told the reporter of “Daily Economic News” that at present, the ex-factory price of PetroChina III vehicle diesel is higher than that of Puchai 100 yuan/ton, and Sinopec refinery III vehicle use The ex-factory price of diesel is higher than that of Puchai, which is 200 yuan/ton. Therefore, the enthusiasm of the refinery for producing country III diesel fuel is higher than that of Puchai.

According to sources of PetroChina and Sinopec refiners, the secondary capabilities of their individual plants alone may not be fully compatible with primary capabilities. In the short term, it cannot ensure that all diesel output can be fully upgraded to the national III standard, but overall it will not affect the country. III Po Chai upgraded supply.

Previously, there were regional differences in the configuration and production of Chechai and Puchai. The production of diesel fuel for refineries in the northeast region accounts for about 80% of the total diesel production, while the output of diesel in some refineries in Guangdong Province is roughly the same as that of Cape Town.

Some local private refiners have reported that there may be a certain lag period in the quality replacement of Puchai, and will pay close attention to the progress of the upgrade.

Since the replacement of Puchai Qingkuo around the year, a wide range of hazy weather has triggered society to pay attention to the upgrading of oil quality. In February, the executive meeting of the State Council decided that the AQSIQ and the National Standards Commission should issue the fourth phase of the vehicle diesel standard as soon as possible. The transition period will be until the end of 2014 and the fifth phase of the vehicle diesel standard will be released before the end of June 2013.

At present, CNPC and Sinopec's sales companies are all actively working on the old standard Pucha clearance. The above analysts said that most of the fuels are sold directly in the wholesale sector, and the “two barrels of oil” retail has long been the National III vehicle diesel, so the clearance work can be completed on schedule by the end of June. Only a few sales companies currently have a high inventory of Pucha, combined with weak market demand and limited digestion capacity. Clearing inventory is difficult.

According to public reports, Beijing and Shanghai currently implement the national IV standard and the national V standard diesel, Guangdong province has already implemented the national standard III diesel at the end of 2011, Fujian also sells the national standard III diesel, and Hainan and Zhejiang have upgraded this year. The plan to go to the country V standard diesel, the current sales are also based on the National III standard.

In Jiangsu, Shandong, Central and North China, and in the southwest region, the old standard Puchai is more often sold. In the near future, Puchai’s Qingcang upgrading and replacement have begun.

Long Meng Petrochemical Network analyst Zhang Meng Kun said that in June, Sinopec will focus on the gas station and other countries to replace the national standard III diesel, Sinopec system replacement on June 31 can be completed on time.

The price of diesel fuel is worsening from June to July, which is generally the traditional off-season of diesel demand. Affected by the slowdown in domestic macroeconomic growth, the demand for diesel in the first quarter has seen a negative growth year-on-year. Some market participants are concerned that, together with the pressure from the two giants, they may As a result, the wholesale price of diesel in some regions is facing downwards.

According to the data, from January to April, domestic cumulative production of diesel was 57.367 million tons, only 0.2% higher than the same period of last year.

The depressed economic environment led to low demand for diesel fuel. After the implementation of the new mechanism, downstream gas stations and intermediate traders all lacked the willingness to purchase goods. At present, diesel resources are mostly concentrated in upstream refineries.

According to Zhongyu Information Monitoring, as of May 30, the average wholesale price of PetroChina and Sinopec III 0# diesel in 26 major cities in China was 7746 yuan/ton, the lowest point of the year for 8 consecutive working days, and the finished product on February 25. The wholesale price of oil after the increase in retail price limit was a difference of 803 yuan/ton during the year. After February 25th, the government once adjusted the retail price limit of refined oil by “one lift and two drops” and the retail price of diesel fuel dropped by 605 yuan/ton.

The data of interest-best energy appraisal shows that the domestic average price of 0# diesel on May 22 was RMB 7,618/ton, which was RMB 32/ton lower than the price on May 2, which was also the lowest price since last August.

“In June, when the fishing season in the Yellow Sea and the Bohai Sea has come, the demand for fishery and diesel oil has been greatly reduced. The sluggish market demand is the main resistance to the rebound in the diesel market price,” said Ma Yan.

After all the national diesel standards have been upgraded to State III, whether the prices can implement the price of the National III standard in a timely manner, at present, the “two barrels of oil” sales company all over the country can not be determined.

Regarding the issue of pricing after oil upgrades, the State Council has made it clear: “We must reasonably determine the price of refined oil according to the principles of reasonable compensation costs, high quality and preferential prices, and polluter pay, and governments, businesses, and consumers should jointly undertake the three parties.”

Li Qian, an analyst at Zhuo Chuang, said that at present, the two giant vehicle diesels in coastal areas have been upgraded to China III standards since February 2012. However, because some inland cities still have partial State II standard diesel sales, Fujian Province is now Still implement the national II standard price.

It is understood that starting in 2010, the country began to implement the implementation of the national standard III gasoline, but so far the wholesale and retail link prices are still implementing the price of the National II standard.