Papers by Keyword: Strategic Petroleum Reserve

Abstract: Chinas strategic stockpiles system was firstly built in 2004. After 8 years of preparation and construction, strategic petroleum reserve (SPR) has already gained its capacity. However, whether this growing capacity can meet the need of unexpected supply shock is still a question. This paper will analyze supply risks after making a brief study of different types of oil risks. In the second part, the paper will have a glance at the history and prospective of Chinas SPR system before trying to identify the optimal level of SPR. The paper will then have a horizontal comparison with identical countries and associations SPR policies, attempting to draw experiences from them. Based on all these discussions above, the last part will have an estimation of future SPR level and the optimal level requested. I then come to the conclusion under a series of strict assumptions that Chinas SPR will cover its supply shock in the coming decade.

Abstract: Establishing strategic petroleum reserve is one of the important measures to ensure the safety of Chinas oil supply and concerns the long-term development of China. This paper mainly summarized the three big issues about China's strategic petroleum reserve: optimal scale, optimal reserve structure and influence factors, and put forward some ideas for further research.

Abstract: The rising international oil prices will cause the loss of national GDP and the establishment of strategic petroleum reserves (SPR) could avoid this loss as much as possible. The oil price-GDP elasticity coefficient is an important parameter in calculating strategic petroleum reserve, but since it is difficult to obtain, it is also hard to calculate. This paper provides the fitting formula of oil price-GDP elasticity coefficient based on the regression analyzing of literature data. China’s oil price-GDP elasticity coefficient in recent years has been analyzed and predictions for future trends in different situations have been made. Finally, the predicted oil price-GDP elasticity coefficient is used to calculate the size of China's strategic petroleum reserve and its earnings.

Abstract: The western countries has long established their strategic petroleum reserve system, most typically in the US and Japan. The paper analyzes and compares the strategic petroleum reserve systems in the US and Japan which are representative to the western world, and proposes the basic approach of establishing strategic petroleum reserve system in China.