China's oil and gas reform series one: gradually implement the whole value chain reform of oil

The reform of China's oil and gas industry is inevitable, but it also brings many challenges, which is the most difficult task for China's top designers.Geopolitics and economics, volatile international and domestic market dynamics, and different interests between state ownership and private investors are all closely related.China's oil and gas reform aims to promote market-oriented reform throughout the value chain. The main problems faced by the industry include: upstream: exploration and exploitation is the foundation of the oil and gas industry, and is the most capital-intensive and profitable monopoly field.Middle stream: pipe network separation is the key problem;Downstream: the reform of the downstream sector is under great pressure, but the improvement of pricing mechanism and the introduction of mixed ownership may bring breakthrough results.

中国石油天然气改革势在必行，但也带来诸多挑战，是中国顶层设计者面临的最棘手任务。地缘政治与经济、多变的国际国内市场动态，以及国有制与私人投资者之间的不同利益，均存在密切关系。中国的石油天然气改革旨在推动贯穿价值链的市场化改革，该行业面临的主要问题包括：上游：勘查开采是石油天然气行业的基础，是资本最为密集、利润最丰厚的垄断领域；中游：管网拆分是关键问题；下游：下游领域改革面临巨大压力，但定价机制的完善以及混合所有制的引入可能带来突破性成果。