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  "Petroyuan" - Sun. PM KTFA Thoughts/News 3/25/18

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Ssmith
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PostSubject: "Petroyuan" - Sun. PM KTFA Thoughts/News 3/25/18   Mon Mar 26, 2018 8:11 am

KTFA

PappaJ » March 25th, 2018


MIGHT WANT TO PAY CLOSE ATTENTION TO THIS ACTION , AND THE TIMING. REMEMBER CHINA IS 14 HOURS AHEAD OF E.S.TIME. REMEMBER IRAQ IS A GOLD BACKED CURRENCY AND CHINA IS ALSO NOW. LOOK AT THE SECOND PARAGRAPH. IMO

The Chinese yuan and the major currencies are trading alongside the dollar in the oil trade within days

Contracts will participate in the pricing process of crude and will be within the global trading system


23rd March, 2018

China is completing preparations for the launch of yuan-denominated futures contracts for crude oil, which is expected to start at 9 am China time on March 26 at the Shanghai International Energy Exchange of the Shanghai Stock Exchange.

Lu Feng said Thursday, An official at the stock exchange, told reporters that there were 19 brokers from outside China who had been listed for trading oil futures on the exchange.

​China is seeking to provide a mechanism for hedging and managing the risks and contribute to the pricing of oil globally, away from the large speculation in London and New York. In addition, China wants to make the yuan a major currency in the oil trade alongside the dollar, Although this may be a long-term need even if China is currently the world's largest oil importer, the country plans to limit speculation and bubbles that arise through these activities by making the cost of oil storage for traders in the country, according to a report published by Bloomberg on March 19.

China is double its price in the rest of the world.

As for the cost of storage in these warehouses, the Shanghai Stock Exchange announced on March 20 that the cost would be 0.2 yuan per barrel and would be paid by the goods owner or his agent. A recent statement by the bourse revealed that trading margins were set at 7 per cent of the value of the contracts, The upper and lower limits of the float value are 5 per cent. For the first trading day, the limit is 10 per cent of reference prices.

The futures will include 7 types of crude oil, including 6 crude oil products from the Middle East, namely Oman Ore, Dubai Crude, Zacom Al Khaleel from Abu Dhabi, Qatar Marine Oil, While the Shanghai Mercantile Exchange will issue a list of reference prices a day before the trading of the futures contracts will be launched. All institutions will be required to prepare ahead of the launch of futures contracts, enhance risk prevention and ensure the stability of market operations.

Preparations for the delivery and storage of the seven raw materials to be traded on the Shanghai Stock Exchange are still under way, and crude oil futures will be used for 6 specific warehouses for delivery of goods, spread in the Ailangtsi River Delta, Pearl River Delta, Jiaodong Peninsula and Liaodong Peninsula, These areas are easy for shipping operations, as well as proximity to large oil refining plants and being oil trading centers.

The six stores include storage facilities for Sinopec and CNPC, according to a March 14 statement from the Shanghai Stock Exchange. One of these stores is located in Dalian in addition to Ningbozhoujiang. The nominal storage capacity of these six warehouses is 5.95 million cubic meters, and its operating capacity is 3.15 million cubic meters.

The number of member institutions registered on the Shanghai International Energy Exchange is currently over 150, along with a few institutions from the Hong Kong Special Administrative Region and Singapore's DBS. In this regard, Jiang Yang, vice chairman of the State Securities Regulatory Commission, said in a report published by Xinhua that China is speeding up the drafting and issuing of the futures law in an effort to better safeguard the interests of foreign participants.

Will not occupy their share of foreign exchange, because foreign client funds and foreign brokerage agencies will enter into special accounts for futures trading. As preparations are nearing completion, some regular testing and testing is still needed before launch.

Shanghai crude futures will be involved in the pricing of crude oil in the Asia-Pacific region and are expected to become part of the 24-hour global trading system, with Brent and West Texas futures, "It is difficult to change the dollar's dominance over oil pricing in a short time, but pricing in various currencies will be the new direction in the future," said Gu Jingtao, an analyst with the China Investment Bank. LINK

Samson » March 25th, 2018

China to launch first oil exchange in China


23rd March, 2018

China will launch in Shanghai on Monday the gold futures exchange sold in the gold-backed yuan amid the specter of a looming trade war with the United States.

The move marks a new era in the world oil trade, which for decades has been dominated by the US dollar. It will be the start of the yuan's entry into the world oil trade, which is about 1.73 trillion dollars a year and is one of the most important factors that support the dollar exchange rate globally and raise the demand for it as a "reserve currency" needed by countries to settle purchases of fuel and other energy products.

The term "petroyan", ie, yuan-denominated oil, will enter the financial markets Along with the term petrodollar, which is currently dollar-denominated oil. This means that oil contracts traded on the exchange can be converted from yuan to gold, according to the Nikkei Review Asia.

According to the US banking firm Zerhoehid, the futures contracts to be sold in the yuan will be one of the most important indicators of oil prices in Asia, and perhaps the index will offset the price indices of Brent crude oil and West Texas, which dominate the world oil price indices, The Chinese market in oil consumption.

China is not only one of the largest importers of oil, but companies such as PetroChina, as well as the largest derivatives traders in the Asian markets.

Analysts believe that the creation of such a stock market would weaken US-dollar embargoes, and that these contracts would raise the Chinese yuan's share of the trade settlement market for both the dollar and the euro, the two currencies that control the global settlement trade."The gold-backed yuan in these oil futures contracts will tempt countries and companies that are trying to avoid the sale of raw materials in dollars," said Goldmoney's head of research at the GoldMoney Foundation in previous comments to the Nikkei Oil Review.

Oil-exporting countries facing a US embargo are expected to be among the largest customers of the exchange. The stock market was established in coordination with Russia. LINK

OPEC confirms the acceleration of the return of balance to the oil market

25th March, 2018

The Organization of Petroleum Exporting Countries (OPEC) said on Sunday that the declaration of cooperation between the producers is continuing and a radical change in the global oil industry, pointing out that the participating countries in the declaration proved that they work in the framework of concerted efforts, and reiterates time and again dedication to accelerate rebalancing Markets.

"The outstanding performance of the producers in the joint cooperation agreement has been witnessed by a wide range of stakeholders in the energy market, including producers and consumers as well as the global economy," said a recent report by the World Health Organization (WHO), stressing the importance of the next meeting of the five-member ministerial committee on monitoring and follow- The city of Jeddah in April next. "

The OPEC report expected the meeting to reveal more data and positive statistics that support the process of joint cooperation of producers and accelerate the restoration of balance in the oil market.

The report noted that the OPEC countries and independents in the joint agreement set a new record of compliance in February, with voluntary production adjustments continuing, thus achieving a level of 138 percent, according to the data of the Joint Ministerial Monitoring Committee.

Last month saw a good advance in the market's rapid rebalancing track in recent months, with OECD trade inventories dropping by 852.5 million, leading to further reductions in global oil stocks LINK

The oil-producing countries are more willing to compete and have the ability to pump more investment

25th March, 2018

The estimates for the energy sector are now based on consistent concepts. Modernization and control of the volatility of world energy markets must lead. Among the most important factors driving demand for energy,

Crescent Petroleum said in its weekly report, economic growth will continue and encourage the demand for hydrocarbons in the future, particularly in the transport and chemical sectors, despite the growing renewable energy sources and the presence of two billion new energy consumers by the year 2050. the report also pointed to factors «enhance the demand for diversified energy sources, most notably the growing need for new ways to use oil and gas related to the manufacture of cars, construction and housing sector , the same energy materials, and thus will these factors directly effects in stimulating Alastosma Energy.

"The impact of the fundamentals of the oil and gas sector, which continues to support the trend towards further exploration, additional long-term investments, and the intensification of technical use to raise production from old and new fields," he said.

The GCC energy sector, according to Crescent Petroleum, is expected to meet with more investment spending. "The value of energy projects contracts exceeded $ 23 billion this year, a marked increase from the 2017 figure."

The report pointed to «important expectations», comes from Saudi Arabia, which tops the list of contracts to invest in the energy sector, thus the need for an efficient and stable global energy markets is urgent, and the strengthening of cooperation is binding on all producers of energy derivatives, Talk about the liberalization of the American energy sector ».

The report noted that the United States "seeks to achieve independence in the energy sector, both from traditional sources or renewable with the world." He did not cancel «the traditional energy fortunes that seem larger at the current stage, due to a number of variables».

He said that estimates of oil and natural gas reserves are "up to $ 50 trillion in addition to the large resources of coal, as well as current plans and trends, which simplify the procedures for granting licenses to develop the infrastructure of energy projects to investors."

Crescent said that these incentives "will increase the chances of the traditional energy sector, according to the strategies being implemented in a number of countries, especially in the United States, seeking to raise the GDP of $ 100 billion. The increase in oil prices "is in the interest of these plans, with the United States becoming the world's first source of energy in the coming years."

On the status of global energy markets, the report noted "greater readiness for energy sectors around the world to compete, and more able to pump more investments in the coming period." He concluded that the most important motive of this trend is "the keenness of oil-producing countries on their shares and markets."

At the end of its report on energy markets, Crescent Petroleum stressed "the importance of reshaping alliances and creating new joint links to maintain the current centers of oil-exporting countries." The US economy is "more competitive and stronger because of the availability of cheap energy sources. Between existing risks and opportunities for producers is very complex at a time when mitigating negative impacts and enhancing benefits are more uncertain. "

On the most important events in the oil and gas sector, the company «Dana Gas» UAE, «the coalition of companies« Pearl Petroleum », which is led by the« Crescent Petroleum »concluded a deal to sell gas for ten years, with the Kurdistan Regional Government of Iraq.
In Oman, Oman Petroleum Development Company (PDO) announced a major discovery in the Mabrouk field, estimating the amount of recoverable gas by more than 4 trillion cubic feet and 112 million barrels of condensate.

She noted that she was carrying out excavations in the field north of the concession area, without disclosing additional details. "The oil and condensate reserves reached 4.740 billion barrels and the gas reserves are 24.96 trillion cubic feet by the end of 2017." LINK
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PostSubject: Re: "Petroyuan" - Sun. PM KTFA Thoughts/News 3/25/18   Mon Mar 26, 2018 8:06 pm

Lots of blah, blah, blah. None of which means change.

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PostSubject: Re: "Petroyuan" - Sun. PM KTFA Thoughts/News 3/25/18   Mon Mar 26, 2018 10:27 pm

What a fudging joke "Iraq is a gold backed currency". 

Let me say this one last time, and it is FACT:

NO COUNTRY CAN GO GOLD-BACKED.

REPEAT

NO COUNTRY CAN GO GOLD-BACKED

Until gold reaches $50,000 an ounce, there is NOT ENOUGH GOLD IN THE WORLD FOR ANY COUNTRY TO GO GOLD BACKED.

Google it.  Read the facts.
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