China to subsidize oil firms to ease shortage

时间：2007-12-06 08:32:33

（单词翻译:单击）

BEIJING, Dec. 6 - China will offer subsidies1 to domestic oil companies to offset2 high international oil prices amid efforts to ensure market supplies, the nation's top economic planning agency said on Wednesday.

 

Many gas stations across the country are experiencing shortages, with refineries3 unwilling4 to raise output in light of the low, government-controlled domestic fuel prices.

 

Experts said the government should reform the oil pricing mechanism5 to reflect international levels and allow oil firms to transfer cost to customers.

 

The government will offer oil firms some profit rebates6 and scrap7 oil import duties to compensate8 them for losses at their refinery9 units, the National Development and Reform Commission (NDRC) said.

 

China raised the prices of gasoline, diesel10 and aviation kerosene11 by 500 yuan (67.6 U.S. dollars) per ton, almost a 10 percent rise, starting from November 1.

 

Light, sweet crude for January delivery on the New York Mercantile Exchange was down 99 cents to 88. 32 U.S. dollars a barrel on Dec. 4. The price has risen about 50 percent so far this year, despite a recent retreat from it record high of 99.29 U.S. dollars a barrel last month.

 

The losses at oil refineries are still huge despite the fuel price rise and many local refineries still halt or reduce output, the NDRC stated.

 

As as result, supplies of fuel, in particular diesel, are still tight and some gas stations are still without supplies or only provide limited supplies, according to the NDRC.

 

China's oil consumption has been rising rapidly with the booming economy. Its crude consumption has jumped 6.8 percent year-on-year to 173.03 million tons in the first half of 2007, according to official figures.

 

To ease the shortage, PetroChina and Sinopec, the nation's two largest oil producers, are running at full capacity to increase output, especially that of diesel, and trying to draw on stockpiles as much as possible.

 

The NDRC ordered local authorities to step up market supervision12 and crack down on gasoline retailers13 that withhold14 stocks and raise prices without government authorization15. It also ordered the setting up of an early warning system to tackle emergency fuel shortages.

 
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1 subsidies 84c7dc8329c19e43d3437248757e572c     
n.补贴，津贴，补助金( subsidy的名词复数 )
参考例句：
  • European agriculture ministers failed to break the deadlock over farm subsidies. 欧洲各国农业部长在农业补贴问题上未能打破僵局。
  • Agricultural subsidies absorb about half the EU's income. 农业补贴占去了欧盟收入的大约一半。 来自《简明英汉词典》
2 offset mIZx8     
n.分支，补偿；v.抵消，补偿
参考例句：
  • Their wage increases would be offset by higher prices.他们增加的工资会被物价上涨所抵消。
  • He put up his prices to offset the increased cost of materials.他提高了售价以补偿材料成本的增加。
3 refineries f6f752d4dedfa84ee0eead1d97a27bb2     
精炼厂( refinery的名词复数 )
参考例句：
  • The efforts on closedown and suspension of small sugar refineries, small saccharin refineries and small paper mills are also being carried out in steps. 关停小糖厂、小糖精厂、小造纸厂的工作也已逐步展开。
  • Hence the sitting of refineries is at a distance from population centres. 所以，炼油厂的厂址总在远离人口集中的地方。
4 unwilling CjpwB     
adj.不情愿的
参考例句：
  • The natives were unwilling to be bent by colonial power.土著居民不愿受殖民势力的摆布。
  • His tightfisted employer was unwilling to give him a raise.他那吝啬的雇主不肯给他加薪。
5 mechanism zCWxr     
n.机械装置；机构，结构
参考例句：
  • The bones and muscles are parts of the mechanism of the body.骨骼和肌肉是人体的组成部件。
  • The mechanism of the machine is very complicated.这台机器的结构是非常复杂的。
6 rebates 5862cab7436152bb9726585397fb1db9     
n.退还款( rebate的名词复数 )；回扣；返还（退还的部份货价）；折扣
参考例句：
  • The VAT system offers advantages, such as rebates on exports. 增值税有其优点，如对出口商品实行回扣。 来自辞典例句
  • In more recent years rate rebates have been introduced for households. 近年地方税的减免已适用于家庭。 来自辞典例句
7 scrap JDFzf     
n.碎片；废料；v.废弃，报废
参考例句：
  • A man comes round regularly collecting scrap.有个男人定时来收废品。
  • Sell that car for scrap.把那辆汽车当残品卖了吧。
8 compensate AXky7     
vt.补偿，赔偿；酬报 vi.弥补；补偿；抵消
参考例句：
  • She used her good looks to compensate her lack of intelligence. 她利用她漂亮的外表来弥补智力的不足。
  • Nothing can compensate for the loss of one's health. 一个人失去了键康是不可弥补的。
9 refinery QiayX     
n.精炼厂，提炼厂
参考例句：
  • They built a sugar refinery.他们建起了一座榨糖厂。
  • The purpose of oil refinery is to refine crude petroleum.炼油厂的主要工作是提炼原油。
10 diesel ql6zo     
n.柴油发动机，内燃机
参考例句：
  • We experimented with diesel engines to drive the pumps.我们试着用柴油机来带动水泵。
  • My tractor operates on diesel oil.我的那台拖拉机用柴油开动。
11 kerosene G3uxW     
n.(kerosine)煤油，火油
参考例句：
  • It is like putting out a fire with kerosene.这就像用煤油灭火。
  • Instead of electricity,there were kerosene lanterns.没有电，有煤油灯。
12 supervision hr6wv     
n.监督，管理
参考例句：
  • The work was done under my supervision.这项工作是在我的监督之下完成的。
  • The old man's will was executed under the personal supervision of the lawyer.老人的遗嘱是在律师的亲自监督下执行的。
13 retailers 08ff8df43efeef1abfd3410ef6661c95     
零售商，零售店( retailer的名词复数 )
参考例句：
  • High street retailers reported a marked increase in sales before Christmas. 商业街的零售商报告说圣诞节前销售量显著提高。
  • Retailers have a statutory duty to provide goods suitable for their purpose. 零售商有为他们提供符合要求的货品的法定义务。
14 withhold KMEz1     
v.拒绝，不给；使停止，阻挡
参考例句：
  • It was unscrupulous of their lawyer to withhold evidence.他们的律师隐瞒证据是不道德的。
  • I couldn't withhold giving some loose to my indignation.我忍不住要发泄一点我的愤怒。
15 authorization wOxyV     
n.授权，委任状
参考例句：
  • Anglers are required to obtain prior authorization from the park keeper.垂钓者必须事先得到公园管理者的许可。
  • You cannot take a day off without authorization.未经批准你不得休假。

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