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P54 Change And Hope— Review Of Petroleum And Petrochemical Industry In 2016 And Prospect Of 2017

Retrenchment, cut expenses, cut dividends, the sale of assets …seem irresistible menacing tide of low prices, recalling the global oil market in 2016 occurred in the numerous events, all around the low oil prices, some events are affected by low oil prices , Some events led to the occurrence of low oil prices and the continuation of … machine pregnancy on the change. In the context of supply-side reform, China's oil industry began to embark on a journey of change. Despite the faltering, oil people have realized that change is inevitable. New challenges will arise again, there must be unforeseen events, but it is foreseeable that the macroeconomic remains weak, low oil prices or will continue, while state-owned enterprises reform, oil and gas system reform will be in the new process to get to the bottom. The coming 2017 will be a year of change and hope.

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P76 Shale Oil And Gas Production Toughness Than Imagination

International oil prices from more than $100 a barrel since the mid -2014 - a sharp drop to the lowest $26.21 a barrel, dropped more than 70%; The active drilling rig number from a peak of 1601 in 2014 to 2016 on April 1, 362, down 77%. Industry has been that shale oil production will suffer due to high cost and low oil prices, the shale oil production is actually holds great toughness. According to the EIA statistics, in June 2016, U.S. oil production is still as high as 9.26 million barrels a day, than in April 2014 at the height of 9.69 million barrels a day, fell by 400000 barrels a day.

SPECIAL MANUSCRIPT

P25 Supply - Side Reform Promotes Natural Gas Development

Abundant natural gas resources in China, the initial formation of many varieties, multi-channel diversified supply and “west to east gas pipeline, the gas south, air-sea landing, nearby supply” pattern of gas supply. Stable supply and begun to take shape the infrastructure of strong support for the rapid development of China’s natural gas, natural gas consumption market has 31 provinces in mainland China. Market-oriented reform pushing at the same time, natural gas, the pilot reform exploration stage breakthrough. The natural gas as the main energy in our country for the future laid a good foundation.