Petroleum conference building partnerships

A total of 25 deals with a combined investment value of 165.6 billion yuan were signed at the International Petroleum and Natural Gas Enterprises Conference 2018, held in Zhoushan of Zhejiang province on Oct 18.

They cover areas such as petroleum storage, oil trade and liquefied natural gases.

The event, themed "Vision and Actions on Promoting Open, Inclusive and Win-win Oil and Gas Cooperation with Belt and Road Countries", lured over 800 representatives of 266 enterprises from 30 countries and regions, including those from 57 Fortune Global 500 companies and 97 well-known enterprises from home and abroad.

Janet Kong, CEO of BP Supply & Trading East Hemisphere, said the British company has been forming an all-round partnership with China in the oil industry in recent years and shared her views on the challenges and opportunities in China's oil market.

Yuan Jiajun, governor of Zhejiang, said construction of the province's oil and gas industrial chain in the China (Zhejiang) Free Trade Zone has been in the fast lane.

"Creating a complete chain of oil products is a vital measure Zhejiang has taken to open wider to the world, and we look forward to more opportunities," Yuan said.

Last year, the province witnessed a combined sales volume of 19.5 million tons in refined oil, and a consumption of 10.5 billion cubic meters. The scale of its crude oil processing currently ranks fourth nationwide.