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25 June 2017, Volume 36 Issue 3 Previous Issue    Next Issue

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Natural Gas Renminbi: Proposition to Combine Energy Security with Financial Security Huang Xiaoyong 2017, 36(3): 1-6.  DOI: 10.3969/j.issn.1002-302x.2017.03.01 Abstract ( )   PDF (1904KB) ( )   “Natural Gas Renminbi” is proposed in this article to aim at using RMB for calculation and settlement in international natural gas trade, promoting internationalization of RMB, helping China win her discourse right for natural gas pricing, and better maintaining China’s energy and financial security and economic interests. Selection of natural gas as the carrier of RMB internationalization is both appropriate and feasible in the perspectives of opportunity, position and market. First of all, LNG development makes natural gas trade more convenient, thus providing natural gas with the condition for global trade. Secondly, natural gas is supplied adequately on the global basis. It has gradually become an independent energy commodity. The natural gas demand is on the rise in the Northeastern Asia region. Particularly, China will become the sole country among the gas consumers to import natural gas in large quantities. There is a growth momentum for natural gas trade volume in the future. Thirdly, China has been already set to become regional or global trade center thanks to its advantageous economic and regional conditions. To translate this proposition into reality, China should accelerate interconnection of natural gas pipelines with those in Northeastern Asia and Russia in addition to establishment of Northeastern Asian regional or even global trade center for natural gas spots and futures. Meanwhile, China should also push ahead with the domestic natural gas industrial reform and foreign exchange management restructuring, step up international natural gas cooperation and design compilation of plans and transactional contracts.

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Analyze Impact of Replaceable Energy Development on China’s Petroleum Demand Niu Li, Wang Baicang, Yan Min, Jing Ye 2017, 36(3): 7-15.  DOI: 10.3969/j.issn.1002-302x.2017.03.02 Abstract ( )   PDF (3009KB) ( )   To establish the clean, low-carbon, safe and high-efficiency modern energy system, acceleration of replaceable energy development is an inevitable option for adjustment and optimization of energy structure. This will exert an important influence on traditional oil-characterized energy development. China has seen a rapid replaceable energy development and ranked on the world’s forefront and even No.1 position in terms of total development volume, newly-added capacity, newly additional investment and proportion of consumption. This article follows up a series of studies of non-conventional oil and gas exploration and production technology, building energy-saving and environmental technology, energy-storing technology, mini nuclear cracking technology and energy Internet + latest technological progress. It also looks into the longterm and medium-term development trends for key frontier technologies of replaceable energy both at home and abroad and quantitatively calculates the replacement rates of the main varieties for oil in 2020, 2030 and 2050. It is proposed that China’s oil enterprises should actively adjust their development strategy on the basis of energy revolution, optimize business blocks and distribution, enhance their innovation capacity, establish the “Internet + energy” development framework, take an active part in international energy cooperation and bring about sustainable development on the basis of higher quality and performance.

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Construction and Operation of Pilot Experiment Base for CBM Production Zhang Yiming, Dai Yusuo, Chen Xiangzhen, Yang Chunli, Sun Weihua 2017, 36(3): 16-21.  DOI: 10.3969/j.issn.1002-302x.2017.03.03 Abstract ( )   PDF (1962KB) ( )   The general objective of the pilot experiment base for CBM production, constructed by PetroChina Huabei Oilfield Company, is to build itself into a research and development for new CBM development technology and establish a system of key technologies for CBM development with independent intellectual property. The experiment base has made a study of typical issues related to CBM expulsion and production in the past few years, with a series of innovative results achieved. They include development of a new process for rod-free hydraulic expulsion and production to solve the bottlenecks of CBM production process such as shoulder wear, ash plugging and narrowing of variable amplitude, independent development to precisely locate the liquid junction points of CBP pipelines, optimize high-pressure variable frequency energy-saving technology to bring about energy-saving incremental transportation, experiment of KCl application to define the usage scope of HRS strong oxidizing agent, and establishment of coal rock transformable index-appraising system to bring technological role of the experiment base into full play. The article also puts forward solutions to the current operational issues of the experiment base in the aspects of organization structure, supporting conditions, attraction of talents, and independent innovation.

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Performance Evaluation and Analysis of China’s Oilfield Service Industry ---Take 24 Listed Companies for Instance Li Haidong, Hu Guosong 2017, 36(3): 22-28.  DOI: 10.3969/j.issn.1002-302x.2017.03.04 Abstract ( )   PDF (2720KB) ( )   It is of great importance for oilfield companies to improve business performance and fulfill the cost-effective objective under the background that international oil prices continue to remain at a low level. Based on the DEA model and Malmquist index, this article makes static and dynamic evaluations on business performance of 24 typical Chinese listed oilfield service companies between 2011 and 2015. It points out that China’s oilfield service industry is not perfect enough in business management and system construction. The State-owned oilfield service companies are better than their privateowned counterparts in the areas of average integrated efficiency, pure technological efficiency and scale efficiency. Most of listed oilfield service companies in China were under the scale and remuneration increasing period between 2011 and 2015. Appropriate restructuring of assets can benefit oilfield service companies to improve their business performance under the environment of low oil prices. Therefore, it is necessary to continually perfect the oil and gas industrial operation and supervision mechanisms and grasp the strategic opportunity of the country’s the Belt and Road, actively open up overseas market and expand business scale, accelerate technological investment, and energetically promote technological innovations. Importance should be attached to the role of capital market while the efforts are strengthened for fine management of business process and seamless combination of various production links.

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Decision Criteria for Well Shut-in and Restricted Production against Background of Low Oil Prices and Application of Those Criteria Shi Jianzi, Pan Zhijian, Qu Debin, Zhu Ming 2017, 36(3): 29-31.  DOI: 10.3969/j.issn.1002-302x.2017.03.05 Abstract ( )   PDF (1617KB) ( )   Petroleum companies are supposed to adopt well shut-in and production-restricting measures for the lowefficiency and high cost blocks under the new situation that international oil prices fluctuate at a low level. The decision criteria for well shut-in and restricted production are put forward to meet the urgent demand for rapid and scientific selection of the targets for well shut-in and restricted production. This paper introduces critical oil price and its calculation formula. It also points out that the decision criteria can be used to optimize production of a block, an oil field and even an oil company as well as adjust production on the basis of the different development methods. They are also of great significance to oil companies in their efforts to formulate the next-year production plans.

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Development Trend for Nanometer Oil Production Technology Based on Patent Analysis Guo Xiaozhe, Han Wenlei, Niu Huizhen, Kong Xiangming 2017, 36(3): 32-40.  DOI: 10.3969/j.issn.1002-302x.2017.03.06 Abstract ( )   PDF (4023KB) ( )   With unconventional reservoirs like tight oil, shale gas and deep layers strategically replacing conventional reservoirs, nanometer oil production technology is likely to create a new situation for the petroleum industry thanks to its extraordinary characteristics. To study the value of frontier technology in this area, Thomson Reuters patent databank is used to produce the patent map of nano oil production technology. Eighteen items of key technology are summarized on the basis of selection and analysis. The statistical analysis is divided into three development stages. Industrialization nano oil production is now in its preliminary stage. From the angle of patent competition, three oilfield service majors – Baker Hughes, Halliburton and Schlumberger – are in the advantageous positions while China takes up a certain proportion, but the involved Chinese companies are relatively scattered. This paper analyzes five specialized technologies, such as magnetic nano particles, formation treatment agent, wellbore treatment agent, nano material driving, and nano proppant. Based on the quantity of patents and cite, the paper also studies the development process and influential patents and analyzes the competition trend on the basis of horizontal comparison. By superimposing the patents of five specialized technologies and comparing the total quantity of patents, the development law of nano oil production technology can be drawn to predict the trend as well as the orientation for future research.

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Analysis of CNPC Refining and Chemical Technological Innovation on Basis of Invention Patents Li Xiaoyan, Li Yan, Wang Lingling 2017, 36(3): 41-44.  DOI: 10.3969/j.issn.1002-302x.2017.03.07 Abstract ( )   PDF (2616KB) ( )   This paper analyzes the current conditions of CNPC refining and chemical technology in the areas of invention patents, development trend, oil refining process-dominated technology and quantity of invention patents. In the oil refining area, catalyst and refining process are the dominant technologies, accounting for more than 30 percent invention patents. The main patented technology for catalysts includes hydrotreating catalyst, catalytic cracking catalyst and catalytic materials. The invention patents of chemical technology are concentrated in the five main areas of chemical catalyst, organic chemicals, highmolecular compound, high-molecular composite and environmental protection. Invention patents of chemical catalyst accounts for more than one fourth of the quantity, of which the patents of polyolefin catalyst are apparently superior in quantity with a certain capacity for technological innovation. According to the analysis, CNPC has made technological innovations and steadily increased invention patents in the oil refining and chemical area, but the average invention patents for the backbone of technological innovation are not adequate in quantity. In addition, the technology is relatively short of diversity without obvious advantages and enough support technologies. CNPC needs to make more efforts for top-level design and strategic plan and focus on technological innovation while making reasonable and effective layout of patents for the completed inventions.

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Current Development of Disruptive Material Technology and Its Potential Impact on Traditional Energy Yao Zixiu, Jin Xu, Li Jianming, Wei Songbo, Lei Danni 2017, 36(3): 45-49.  DOI: 10.3969/j.issn.1002-302x.2017.03.08 Abstract ( )   PDF (1899KB) ( )   Currently, development of material technology is obviously accelerated in the energy area, exerting a great impact on the future position of traditional fossil energy. The likeliness of fossil energy to be replaced cannot be excluded from a long-term point of view though it can dominate in a long period of time. This depends on development speed and maturity of material science. Based on analysis of the present conditions and future trend for disruptive material technological study in the energy area, this paper elaborates disruptive material technology and its important role in energy replacement process. It briefs about disruptive material technology that needs to be focused on in the energy area, including nanometer, highefficiency energy storage, new-type solar energy power, fuel battery, super capacitor, micro nuclear power and controlled nuclear fusion technology. It also analyzes the potential impact of those disruptive material technologies on traditional energy. Traditional energy enterprises should get ready as soon as possible and accelerate the follow-up study in the areas related to functional nano-material and energy-storing battery so that they can technologically base themselves for their business conversion and development.

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Analysis and Prediction of International Oilfield Service Market in 2007 Yao Yunfei, Jiang Haijun, Wang Lijun, Wang Minsheng, Yan Na, Sun Jian 2017, 36(3): 50-54.  DOI: 10.3969/j.issn.1002-302x.2017.03.09 Abstract ( )   PDF (1838KB) ( )   The year of 2016 was a turning point in re-balance of global petroleum market. Although the oil prices rebounded from the bottom, most oil companies continued to reduce investment in oil and gas exploration and development, making the oilfield service market decline for two consecutive years. Facing such a stern situation, international oilfield service majors adopted a series of measures, such as timely conversion of their development patterns, adjustment of their strategies, development of characteristic technology, reinforcement of core competitiveness and dramatic reduction of cost. The re-balance process of oil and gas market remains unchanged in 2017 while the supply is still kept in adequacy, but the magnitude is narrowed. Influenced by the production reducing agreements from OPEC and non-OPEC countries, the oil prices will gradually rise again with ups and downs, but still remain at a low level. Brent and WTI oil prices are estimated to average US$56 per barrel and US$54 per barrel respectively in 2017. The upturn in oil price will lead to recovery of oil and gas exploration and development investment, but the rebound is limited and the oilfield service market is still kept at bay. With obvious differences in regional market development, global oilfield service market will see significant changes in competitive patterns, making competition more intensified.

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Challenges and Opportunities for Global Geophysical Prospecting Industry during Low Oil Price Period Qu Xiaoqiang, Xiao Zhenxiong 2017, 36(3): 55-59.  DOI: 10.3969/j.issn.1002-302x.2017.03.10 Abstract ( )   PDF (2218KB) ( )   This round of oil price resumption is sure to be a long process thanks to a superposition of the oil price period with the global economic period. The geophysical prospecting industry is the first to come under the impact of low oil prices on the upstream oil and gas industry. As a whole, the global geophysical prospecting industry suffers a great loss at the present time with an excessive capacity of onshore acquisition, while the influence of deepwater acquisition crisis looms large. The excessive profit era of multi-user market comes to an end. Processing and interpretation as well as reservoir market become the directions for business transformation and upgrading while equipment manufacturing market is not flourishing any more. The new trends and new characteristics appear in the global geophysical prospecting industry. The industrial competition pattern is in transition from monopolistic competition to complete competition. The industrial value chain is in the structure of a “smiling curve”. This industry is expected to see more extensive restructuring and more intense competition in the future. Risk exploration appears as a new momentum of the industrial commercial pattern, with more and more multi-disciplinary phenomena. Meanwhile, bottoming out also exists in the global geophysical prospecting industry, which urgently needs to be led by a revolutionary and sophisticated technology.

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Saudi Aramco’s Strategy for Petroleum Engineering Technological Innovation Guang Xinjun, Wang Minsheng, Yan Na, Pi Guanglin, Si Na 2017, 36(3): 60-67.  DOI: 10.3969/j.issn.1002-302x.2017.03.11 Abstract ( )   PDF (4482KB) ( )   To maintain its global technology-leading position, Saudi Aramco attached great importance to petroleum engineering technological research and development and actively carries out its plans for technological innovations. The article analyzes the company’s strategic basis, targets, plans and actions of technological innovation. As for the technological options, the company’s research efforts are focused on frontier creative technologies, such as ultra-high energy storage technology, intelligent oilfield control, passive seismic monitoring, reservoir nano robot, gigabit grid numerical simulation, intelligent fluid, and bionic well. Acquisition of those technologies is based on independent innovation and collaborative development. The article also puts forward some suggestions on China’s national oil companies in terms of petroleum engineering technological innovation: (1) Selecting technological development direction on the basis of advantageous resources; (2) Adhering to independent technological research pattern and adopting the technology-leading strategy in the area of core technology; (3) Opening to the outside world for innovation and stepping up foreign cooperation and exchange; (4) Attracting excellent talents from both inside and outside China to establish a multi-disciplinary innovative team for a higher technological innovative level; (5) Evaluating performance of technological innovation strategy, formulating the appraisal system for technological research projects and ensuring efficiency and performance of technological research and development.