International crude oil Price has been decreasing (Source:Oil IN-EN.com)

◆As the international oil price has been decreasing since April, with a high probability to continue in May, domestic oil price may follow the same situation. Yet the decline will probably be limited, within RMB300 per ton predicted, for the reason that the international price still stays high, though has a trend to fall.

◆About the reform scheme of refined oil price, it is said by Mr. Peng Sen, former deputy director of National Development and Reform Commission (NDRC) that, China has made the decision to change the current pricing mechanism to a new completely market-oriented one.

◆It happened that a draft proposal for crude oil futures nearly finished, launched by Shanghai Futures Exchange (SHFE), is characterized by three principles which reveal the essence of this proposal. In detail, it allows international investors to participate, and taxes-free.

◆Other News

The forth round of Sino Economic Dialogue (S&ED) came into being on May 3rd, in which representatives had discussions about cooperation of renewable energy exploration and smart grid, etc; especially around the topic of American sent the offer to assist China in the shale gas exploration.

It has been proved that Sudan would restore the production in the disputed oilfield.

Japan has run into a nuclear-free situation as the last of all 50 nuclear power stations was shut down.

ConocoPhillips CNOOC (COPC) paid another 16 billion RMB for compensation for oil spill happened last year, in China.