Title: Focus on China's Oil Product Market; Draw on Advanced International Experience —— China's Petroleum Distribution & Retail Summit 2002
Abstract:International Petroleum Economics and Global Integrated Solutions, a foreign organizer of high-level summits, co-sponsored China's Petroleum Distribution Retail Summit 2002 held on August 27-28, 2002....International Petroleum Economics and Global Integrated Solutions, a foreign organizer of high-level summits, co-sponsored China's Petroleum Distribution Retail Summit 2002 held on August 27-28, 2002. A total of 260 participants from more than 10 countries attended the meeting, which was titled Focus on China's Oil Product Distribution, Maintain Order in Market Development, Draw on Advanced International Experience and Link Domestic Business to International Industrial Standards. High-level officials from the Chinese Government, PetroChina, Sinopec, the Development and Research Center of the State Council and more than 10 foreign firms delivered speeches at the meeting. Vice bureau director of the State Economic and Trade Commission Lu Youqing pointed out that China's oil product distribution business is currently concentrated in the hands of PetroChina and Sinopec and involves a variety of economic elements. With the market economy system approaching maturity, China's oil product distribution business will see a faster development, while the managerial system will become increasingly efficient. Vice department director of the State Planning Commission Han Huifang pointed out that the ultimate objective of China's oil price reform is to see the prices based on market fluctuations, with the government no longer interfering in oil pricing. Dr. Chen Huai, from the Development and Research Center of the State Council, said any government controls over oil product distribution should be in line with market demand. The government should formulate the standards for market place accession in the areas of environmental protection, metering, taxation and safety but should not be directly involved in business operations. Senior vice president of PetroChina Ren Chuanjun pointed out that the supply of oil products will outpace the demand for a long period of time in China after the country's entry into the World Trade Organization. With a multi-element operating system and a market-oriented pricing mechanisms. the sales companies of PetroChina will focus on the distribution system to tighten control over the sales terminals. Vice president of Sinopec Marketing Company Liu Xionghua elaborated on the business strategy of enlargement of resources, expansion of market, reduction of cost and cautious investment. Some big-name oil firms, such as BP and Shell, presented briefs on their experience in oil product distribution and made suggestions. Some world-renowned technical service companies in the oil product distribution field also described their latest business concepts. The two-day meeting allowed for extensive and in-depth discussion of related topics, and actively promoted the reform and development of China's oil product distribution business.Read More
Publication Year: 2002
Publication Date: 2002-01-01
Language: en
Type: article
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