The third China International Oil and Gas Trade Congress, sponsored by the Ministry of Commerce’s foreign trade development division, was recently held in Shanghai. More than 200 representatives from petroleum, finance, information and shipping companies from 13 countries were present. Wu Hong, general manager of ChemChina Petrochemical led a delegation to the meeting.
The meeting focused on China’s opportunity and the world’s market and paid attention to the development of the current oil trading system reform in China. Participants discussed how China’s oil and gas sectors should join international competition and realize mutual benefits and win-win results. Experts and representatives from oil producers, traders, energy information and financial institutes in China and abroad had in-depth discussions about China's energy reform; the oil market in China, the US and the rest of the world; international oil prices and the development of China oil futures and spot goods; as well as China’s participation in establishing a crude oil benchmark price.
The congress has been successfully held twice since 2012 and aims to build a commercial platform for companies to communicate and exchange with each other on development trends in oil and gas trade in China and abroad as well as opportunities and challenges involved. At the moment, the congress has become an international and professional facility for industrial and academic discussions. It has played an important role in boosting international cooperation and realizing mutual benefit and win-win results for participants.