On September 18, the First International Petroleum and Natural Gas Enterprises Conference (IPEC) 2017 was kicked off in Hangzhou City, Zhejiang Province. On behalf of Sinochem Group, Chairman Frank Ning, President Zhang Wei, Vice President Feng Zhibin and Assistant President Zhong Ren, attended this Conference. Chairman Frank Ning was invited to give a speech at the plenary session, which was entitled “New Opportunities for China’s Oil Trade under the ‘Belt and Road’ Initiative”.
In his speech, Chairman Frank Ning pointed out that the US Shale Energy Revolution reverses the traditional pattern of oil supply and demand, and subsequently leads to great changes in the international oil trade pattern. The “Belt and Road” connects the largest oil and gas resource enrichment region and the consumption markets with the greatest potential in the world. The “Belt and Road” Initiative improves the convenience and security of oil trade and transportation between suppliers and demanders, which is conductive to prosperity and development of oil trade. As an important player in the equilibrium between the global oil supply and demand, China’s steadily-growing oil import demand will not only continue to play an important role in the equilibrium between supply and demand on the global oil market, but also can provide high-quality refined oil for all countries along the “Belt and Road”. Energy-saving, efficient, environment-friendly, open and cooperative Chinese oil market is to the benefit of all oil producing countries and consumption countries, including those countries along the “Belt and Road”. At the same time, driven by the “Belt and Road” Initiative, diversified oil trade channels and networks are gradually shaping up. On this basis, oil trading center will also enjoy rapid development. If China (Zhejiang) Pilot Free Trade Zone can gradually evolve into international oil trading center and pricing center, this will contribute to energy cooperation for the “Belt and Road” and the open and stable global energy market.
As promised by Chairman Frank Ning, Sinochem Group is willing to continue to enhance partnership with oil resource countries, importing countries and international oil companies, and jointly push forward prosperity and development of international oil trade. On the basis of existing investment projects, Sinochem Group will continue to invest more in Zhejiang Province, actively devote to construction of China (Zhejiang) Pilot Free Trade Zone, give full play to the advantages of whole energy industry chain, and vigorously make new contributions to safeguarding national energy security and driving economic and social development of Zhejiang Province.
In addition, Mr. Zhong Ren was invited to give a keynote lecture at the parallel forum of “Green Development and Future of Petrochemical Industry”, and attended panel discussion. He not only presented his view on the internationalized development of Chinese petroleum and petrochemical enterprises, but also introduced development strategies of Sinochem Group. According to Mr. Zhong Ren, petroleum and petrochemical industries will develop towards the Internet companies, extend industrial segments to oil, chemical engineering, agriculture, real estate, apparel and so on, and achieve Internet of Everything and intelligent manufacturing.
IPEC 2017 was aimed to promote global energy cooperation, accelerate the construction of China (Zhejiang) Pilot Free Trade Zone, and achieve win-win development, which attracted more than 400 guests from government agencies, oil and gas enterprises and related service enterprises of more than 40 countries and regions, as well as energy organizations, industry associations and research institutes all over the world. At the signing ceremony of major projects on September 18, the contracts of a total of 20 projects were simultaneously signed, which covered such key industries as oil product storage and transportation, oil trade, oil product processing, headquarters economy, international finance. Sinochem Group and Zhejiang Rongsheng Holding Group Co., Ltd. signed a memorandum of cooperation, with a view to collaborating in petroleum and petrochemical project investment, trade, warehousing logistics and other fields.
On September 17, Chairman Frank Ning was also invited to attend the First Meeting of International Advisory Committee of China (Zhejiang) Pilot Free Trade Zone, and he was honorably engaged as a member of International Advisory Committee in the first batch. China (Zhejiang) Pilot Free Trade Zone was officially inaugurated and established on April 1, 2017. Industry chain investment facilitation and trade liberalization for oil products are the cores and priorities for construction of China (Zhejiang) Pilot Free Trade Zone.