Study on the synergetic creating benefits of oil trading and storage facilities business
The oil storage facility is an important production and operation infrastructure for the petrochemical industry.From the investment and operation situation of the world's five largest oil trading companies,Glencore,Vitol,Gunvor,Trafigura,and Mercuria,the oil trading business and storage business are inseparable.In the process of cyclical changes in the oil market,oil trading and storage businesses can interact and synergize to create benefits.In a positive market structure where oil supply exceeds demand,storage facilities are important resources for hoarding oil and obtaining risk-free returns.In a reverse market where oil supply is below demand,the development of a specific trading business can be used as a way to leverage the storage needs of refinery production and operation,and to generate revenue for the storage business.The combination of futures and cash operations of certain futures varieties that rely on storage facilities for delivery,and the acquisition of the right to use storage facilities,can bring greater convenience to the development of the relevant business,and storage facilities can also obtain operating income.When carrying out trading business,oil companies can invest in storage facilities in key areas where their business customers are distributed and when carrying out the combined futures and cash business,they should grasp the trading and delivery rules of futures varieties and be familiar with the delivery business model.
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