中文摘要
我国加入 WTO 之后，根据《中国入世承诺》，作为批发、零售业的特殊领
域，成品油批发、零售市场已经全面对外资开放，成品油批发、零售市场主体的
多元化格局已经显现。“十二五”期间，我国成品油需求将维持刚性增长，打破
资源类行业垄断，吸引多元资本、鼓励竞争成为改革的突破点。油库投资数额大、
投资周期长、变现能力差，在投资过程中既有经营风险、金融风险等有形风险，
又有政策变化、市场波动等无形风险，是一项综合性、专业性、技术性极强的活
动。作为成品油分销、零售的重要支撑，收购并拥有必要数量和规模的油库，对
于成品油经营企业拓展市场，掌握销售先机、价格优势至关重要。为帮助成品油
经营企业把握投资方向，制定科学的投资规划，选择适合企业本身的投资模式，
本文在探讨当前较为权威的投资、风险理论的基础上，通过现场调查法、流程图
法的现代风险识别方法，运用成熟的财务、法律等风险评估体系，为投资者确定
投资模式及签订正式合作合同等打下良好基础。文章充分考虑了油库投资的过程
中可能遇到的众多风险因素，通过对油库投资模式、风险类型、风险识别方法及
规避措施等具体示例分析，研究了一般情况下油库投资的投资方式、财税节俭、
风险规避等操作模式，对于通常的油库投资行为具有较好的指导价值，对于普通
的理论研究者也有一些借鉴意义。

关键词： 成品油 油库 投资 风险 管理ABSTRACT
With China's accession to the WTO， according to “China's WTO accession
commitments”,special field of wholesale and retail，wholesale and retail of refined oil
market has been fully open to foreign investment ， market participants appear
diversified pattern of refined oil wholesale and retail。Will remain rigid growth in
China's refined oil demand during the 12th Five Year Plan period。To break the
resource type industry monopoly, attract more capital, encourage competition
becomes the breakthrough point of the reform 。The amount of investment in oil
depot，long investment cycle，liquidity is poor，in the process of investment has
business risk，financial risk，physical risk，and policy changes， market fluctuations
and other intangible risk，is a comprehensive，professional，highly technical activities。

As an important support of oil distribution and retail，the purchase and ownership of
the number and size of oil depot is necessary，for refined oil business enterprises to
expand the market，grasp opportunities， sales price advantage is so important。In
order to help the refined oil business enterprises to grasp the direction of investment,
to make scientific investment planning, choose their investment model, based on the
studying the current more authoritative investment, risk theory, modern risk
recognition through field investigation, flow chart method, the use of financial, legal
risk mature evaluation system, to lay a good foundation to determine the mode of
investment for investors and the signing of the formal contracts. This paper considers
the many risk factors that may be encountered in oil investment, through the fuel
depot investment mode, risk type, risk identification method and measures to avoid
concrete example analysis, studies the general oil investment, fiscal austerity, risk
aversion, mode of operation, and has better guidance value for investment oil usually
behavior, theoretical research on ordinary person also have some reference
significance.
KEY WORDS：refined oil, oil depot, investment, risk, programming