Study On The Refinery's Energy Efficience Of SINOPEC Corp.

:Jumping out of the Economic Development Comes before Governance pattern of the developed countries is an important task of the transformation of economic development mode and achieving the new industrialization with Chinese characteristics. More and more decision makers, researchers and the populace realize that China's sustainable development has been threatened by extensive use of energy and a large number of pollutants released into the environment. Thus, one of the most important parts of economics study lies in improving energy efficiency and achieving energy-saving and emission-reduction of key industries and key enterprises. Oil refining enterprises'energy efficiency at the micro level determines the energy efficiency and sustainable development of the whole industry. In considering the undesired outputs of energy efficiency, what is the actual situation of energy efficiency in China's oil refining enterprises? What are the factors that influence the energy efficiency in China's oil refining enterprises? How to improve the energy efficiency of these enterprises? In order to answering all these questions, the research primary coverage of this paper constitutes by measurement of energy efficiency, analysis of influence factors and putting forward the countermeasure and suggestion, taking Sinopec refinery enterprises as the research object.This paper synthetically use the discipline theory and econometric analysis methods of microeconomics, industrial economics, resource economics, environmental economics, and econometrics to study the objective situation and influence factors of Sinopec refinery enterprises' energy efficiency. Then, countermeasures and suggestions are put forward to improve the energy efficiency of refinery based on theoretical and empirical analysis. This paper is quite realistic significant to enrich the research on micro level in theory, to expand the research vision of enterprise energy efficiency, to enhance the core competitiveness of Sinopec refinery enterprises, to improve the performance evaluation system of enterprises themselves, and to promote China's industrial economic, social and environmental coordinated development. This paper consists of seven chapters. Chapter one is the introduction. Chapter two includes the research review and the theoretical basis. From chapter three to chapter five, the paper analyses CO2emission, energy efficiency and influence factors of Sinopec refinery enterprises from different perspectives. Chapter six promote the advises to improve the energy efficiency of refinery. Chapter seven summarizes the problems to be further studied and proposes research prospect.Firstly, on the basis of using research results at home and abroad for reference, this paper constructs an oil refining enterprise carbon balance model, estimates the CO2emissions quantity of Sinopec refinery enterprises from2004to2009, summarizes the basic characteristics of oil refining enterprises' CO2emissions, and puts forward measures and suggestions to reduce CO2emissions. This paper also uses the Directional Distance Function (DDF) to measure the marginal revenue of Sinopec refinery enterprises CO2emissions so as to provide theoretical support and practical basis for undesirable output variables introduced to follow-up research on energy efficiency in refinery.Secondly, based on the domestic and foreign theories and literature related to energy efficiency, this paper uses Data Envelopment Analysis (DEA) to construct evaluation model of oil refining enterprises energy efficiency. The model is used to measure saving potential and energy efficiency of electricity, fuel oil and fuel gas of Sinopec's24refineries from2004to2009. And then the corresponding countermeasures and suggestions will be put forward.Thirdly, in this paper, stochastic frontier production model based on panel data empirically test the factors that influence energy efficiency of Sinopec refinery enterprises, such as enterprises scale, energy structure, energy prices, and technical progress. The research shows that Cobb-Douglas production function is more appropriate than Tanslog production function in this study. Enterprises scale, energy structure, and technical progress play the significant role in promoting energy efficiency of Sinopec refinery enterprises. The inspection results reveal that coefficient of variation of coastal enterprises'energy efficiency is lower than enterprises in the middle reach of the Yangtze River and in Midwest of China.Lastly, the paper researches on the proposition how to improve energy efficiency of Sinopec refinery enterprises based on the above theoretical analysis and empirical analysis, referring to foreign advanced experience. The countermeasures and suggestions are attaching importance to the way of connotative development relying on technology progress, developing CO2sequestration and comprehensive utilization technology, and taking active preparations and interventions in carbon emissions trading business.The innovation of this paper is mainly reflected in the following three aspects:Firstly,it is not common that the paper systematically research on enterprises' energy efficiency and influence factors at the micro level in existing literature. Most of the researches adopt aggregated data instead of micro-data. This paper uses micro data to further study energy efficiency and influence factors of Sinopec refinery enterprises. It is the complement and deepening research on energy efficiency of enterprises in China. The research perspective is quite new and original.Secondly, new analytical framework is proposed in this paper, the analytical framework focuses on energy efficiency in China's oil refining enterprises, considering energy resources and CO2emission. The enterprise economic output value is adjusted by CO2emission earnings, so as to realize internalization of external effects of enterprise production process. This breaks enterprises'Solid Boundary of previous energy efficiency study, and treats energy resources and CO2emissions as endogenous variables of the empirical model. All these make the evaluation of enterprise energy efficiency more scientific and more objective. Accordingly, countermeasures and suggestions will be more targeted and easier to operate.Thirdly, using measuring method, such as carbon balance model and DDF, to estimate the CO2emission levels and measure the CO2emission marginal benefits of Sinopec refinery enterprises. B. Applying DEA to measuring energy-saving and emission-reduction potential and energy efficiency so as to explain the status of energy efficiency of Sinopec refinery enterprises. C. Adopting stochastic frontier approach (SFA) to empirically study the factors that influence the energy efficiency. A variety of research methods are synthetically applied in upgrading general single-factor energy efficiency description and simple analysis of enterprises to econometric analysis of environmental total-factor of energy efficiency.