The world's leading oil and petrochemical giants are expected to gather in Shanghai next month to display their latest technology and equipment.
International oil conglomerates, such as Chevron, Amoco and the state oil companies from Qatar, Saudi Arabia and Malaysia, will attend the International Petroleum and Petrochemical Exhibition from September 18 to 21. More than 200 domestic companies will also join the show.
The exhibition, part of the World Petroleum Congresses Asia Regional Meeting, will display equipment, technology and services for petroleum and natural gas exploration and development, oil processing and petrochemical production.
Wang Tao, vice-president of the World Petroleum Congress, said the exhibition, sponsored by China's largest three oil companies - China National Petroleum Corp (CNPC), China Petrochemical Corp (Sinopec Group) and China National Offshore Oil Corp (CNOOC) - and China National Chemicals Import and Export Corp (Sinochem), will promote the co-operation between international and domestic oil companies, especially the co-operation between Asian counterparts.
Wang said: "China's demand for crude oil continues to outpace domestic supply. We hope the exhibition will serve as a platform for domestic companies to absorb the advanced technology from their foreign partners."
China has become a net oil importer since 1993, with nearly one-fourth of the domestic oil consumption supplied by imports. Last year, China imported some 70 million tons of oil. It is expected that imports will make up half of China's domestic consumption by 2010.
At the event, CNPC will also introduce the development of the US$14 billion west-east gas pipeline project, which aims to attract business people in industries such as steel, automobile, environment protection and pipeline.
(China Daily 08/14/2001)