China's diesel market is set to transition to the national three standards starting July 1, 2013. This means that the older national two standard diesel will no longer be available on the market. According to a recent report, most of the major oil companies, including PetroChina and Sinopec, have already upgraded their refineries to meet the new standards, making it relatively easy for them to complete the transition on time. However, private refineries are facing significant challenges due to limited capital, outdated technology, and intense competition from the industry giants. The shift to the higher standard diesel is expected to bring noticeable improvements in air quality. Currently, the majority of provinces receive Guosan Diesel from the two major oil companies, while some areas in the northwest and southwest still use Guoer Diesel. These fuels are primarily used in sectors such as mining, construction, and power generation. It’s worth noting that the implementation of the national three standard varies across regions. For example, Beijing and Shanghai have already adopted National Five and National Four diesel standards respectively, showing a more advanced rollout compared to Other parts of the country. In terms of sulfur content, the national three standard limits sulfur to no more than 350ppm, whereas the previous national two standard had over 2000ppm. This drastic reduction significantly lowers harmful emissions and contributes to cleaner air and a healthier environment. Despite the upgrade, many "two barrels of oil" (referring to the two major state-owned oil companies) have already completed their equipment upgrades. However, the situation is not as promising for private refineries. According to Lu Weicai from Zhongyu Information, only a small number of manufacturers in the northwest, northeast, and Shandong province can currently meet the national standards. Previously, private companies gained an edge by offering lower wholesale prices. But with the need for expensive upgrades in equipment, technology, and sourcing, this competitive advantage is under threat. The increased costs from these upgrades are likely to be passed on to consumers, potentially leading to higher wholesale prices. Interestingly, in some regions where the transition was done early, such as Fujian, retail prices have not increased despite the oil upgrade. Similarly, Beijing implemented the National Five standard for both gasoline and diesel last June. According to a State Council notice, refined oil prices should be adjusted based on cost recovery, quality, and environmental responsibility principles. However, in practice, gasoline and diesel prices in Beijing have remained stable even after the upgrade.

Square Nuts

A nut is a type of fastener with a threaded hole. Nuts are almost always used in conjunction with a mating Bolt to fasten multiple parts together. The two partners are kept together by a combination of their threads' friction (with slight elastic deformation), a slight stretching of the bolt, and compression of the parts to be held together.

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