Study On International Comparison Of Chinese Petroleum Enterprises Operating Efficiency

Petroleum and petrochemical industry is an important driving force and pillar industry of economic development in China.Thanks to the reorganization of the petroleum and petrochemical industry in 1998, petroleum enterprise broke the original upstream and downstream segmentation industry monopoly, and set up to the area of the integration of upstream and downstream group: Petro China, Sinopec and CNOOC. Along with the three major oil group company successfully listed, the original nature of the enterprise has taken a fundamental change, from the original government affiliated production unit to the competition of market economy main body, and management philosophy become maximize shareholder interests. In addition,as a member of the world trade organization,China will gradually implement free trade,and expand market access level, so that the domestic oil and petrochemical market could become the international market.The three major oil companies will face a direct challenge to multinational oil company. How to change the existing business model and philosophy to step into the international market,and own international competitive advantage is an urgent task for the three largest oil company.In this paper, we take 21 domestic and foreign "fortune" the world 500 strong enterprises as the research object, using the entropy value method-Topsis, super efficiency DEA model and Malm-quist index respectively to make international comparison. for China petroleum enterprise management efficiency from three aspects:financial indicators, the production efficiency and the total factor productivity. Firstly, according to relevant literature and the principles of constructing the index system,construct the financial index and the input and output index. Secondly, by using the entropy of-Topsis to weight value on financial index,calculates the comprehensive financial performance.Then we make the petroleum enterprise evaluation from the profitability, solvency,operation ability and growth ability and comprehensive financial performance and other aspects. Thirdly, by using the super efficiency DEA model, we evaluate the comprehensive efficiency of petroleum enterprises horizontally, which is decomposed into pure technical efficiency and scale efficiency; using the Malm-quist index,we make he longitudinal evaluation on total factor productivity(TFP)of petroleum enterprise and its decomposition: technological progress, the allocative efficiency and scale efficiency etc. Finally, combine the above three aspects, we summed up the problems of China’s oil companies operating situation,and qualitative analysis the pointsof the reasons for its inefficiency,we put forward relevant policy suggestions on the development of Chinese petroleum enterprises.