On March 24, the 11th Chinese Oil Trade Conference was held in Xiamen, China. More than 300 representatives of three groups(China Petroleum, Sinopec and CNOOC) and large international oil companies from Singapore, Japan, South Korea, Holland launched the deliberation regarding the current situation and development of China’s oil market.
Improving the comprehensive level of information
China Petrochemical Corporation (Sinopec) held a meeting on March 5 to improve the comprehensive level of information. The meeting required to vigorously carry out a centralized information system, integration and the deep application ,enhance the functions of operation and management, production operations command and information infrastructure. And speed up the construction of non-listed enterprise information so as to maintain the level of information in the forefront of central enterprises.
Sinopec lubricant oil expands Australian market
The Lubricating Oil Branch Company of Sinopec held two lubricant oil brand conferences in Perth and Sydney during April 22-27. The conferences clearly proposed the strategy that Sinopec lubricant oil would serve Australian market. In recent years, with the quality advantage Sinopec lubricant oil Opens access to Australian market. In 2009, the lubricant oil successful entered Australian mining system as a starting point of mineral oil, and supplied lubricant oil products for more than 10 enterprises. Among these products, the proportion of high-grade oil has reached 82%. Under the circumstance that some international manufacturers reduced business because of financial crisis, the export growth rate of Lubricating Oil Company of Sinopec reached 101 %.
The move marks another step by the majors into the CSM-LNG projects in Queensland. It follows BG Group’s $5.6 billion (Aus.) buy-out of Queensland Gas Co. in 2008 and ConocoPhillips’s $9.6 billion (Aus.) investment in Origin Energy’s Queensland CSM-LNG project soon afterwards.

Source:CNPC

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