On February 28, ZhenHua Oil held its 2018 annual conference. Zhi Yulin, general manager assistant of NORINCO Group and chairman of NORINCO, Liu Yijiang, vice president of NORINCO and chairman of ZhenHua Oil, Wang Chuan, president assistant, Zhang Xiaoming, director of the Strategy and Planning Department, and Shi Yanjun, director of the Human Resources Department, attended the meeting. ZhenHua Oil leaders, cadres and employees from Beijing and main directors and representatives of subsidiaries (branches) outside Beijing attended the meeting. Liu Yijiang chaired the meeting.
At the meeting, Yuan Jun, general manager, presented a work report themed Strive Ahead and Work Hard to Accumulate and Shape New Momentum in Reform and Innovation on behalf of the leadership. The report pointed out that with the strong leadership of NORINCO in 2017, ZhenHua Oil earnestly studied and implemented the spirit of the 19th National Congress of the CPC and inherited the fine tradition of NORINCO oil workers. The company coped with challenges of low oil price in the international market, pressure transmitted from the resource countries, tightened domestic policies and oilfield development contradictions actively and bravely and effectively made innovations. ZhenHua Oil has always adhered to the quality & efficiency-centered design, fully implemented the strategy of “reform, innovation, capacity enhancement, lean management, transformation and upgrade” and successfully fulfilled the annual operating goals and key tasks: achieving operating revenue of RMB133.7 billion, oilfield output of 9.104 million tons, and trade volume of 66 million tons.
The report pointed out that 2018 is the middle stage for implementation of the company's 13th Five-Year strategic planning and a critical year connecting the preceding and the subsequent efforts of the company and for the company to make steady progress. We must earnestly implement the spirit of the working conference of NORINCO, and spare no efforts in completing all our goals and key tasks of the year in line with the general principle of “making progress while maintaining stability”. ZhenHua Oil should spare no efforts in reshaping new growth momentum of oil sector, make new progresses in the quality and efficiency oriented sustainable development and contribute to NORINCO’s determination of building a globally competitive world-class transnational company.
Zhi Yulin made an important speech at the meeting. He affirmed ZhenHua Oil's innovative results and good development performance in 2017. He pointed out that the global situation, especially the oil and gas industry, experienced major changes and adjustments during the year. The oil peak theory was subverted, the influence of the “Shale Gas Revolution” deepened, and the new energy substitution trend was significant. All these have imposed profound influence on ZhenHua Oil’s business. In 2018, generally opportunities seems greater than challenges: firstly, the 19th National Congress of the CPC clarified that the development prospective in the coming 30 years and people’s beautiful life cannot be separated from energy; secondly, the “Belt and Road” Initiative is well responded globally, which is conducive to achieving complementary and mutually beneficial cooperation; thirdly, China has become the world’s largest crude oil importer, bringing cooperation opportunities in trade and other fields; fourthly, the natural gas is in the ascendant and boasts a promising development prospects. He requested ZhenHua Oil to further unify understanding, adjust and develop new ideas, follow the trend and make innovation through judgment of macro situation, and find the next focus. He also set forth specific requirements for the work arrangement in 2018. Finally, he hoped ZhenHua Oil will continue to implement innovative, collaborative, green, open and inclusive development concepts, give play to the advantages of interaction between the military products departments and the oil company, enhance discussions, co-building and sharing along the “Belt and Road” to achieve quality and efficiency oriented sustainable development so as to make contribution to the building of NORINCO into a world-class transnational company with global competitiveness.
At the meeting, Kang Qifa, secretary of the CPC ZhenHua Oil Committee, conveyed the spirit of the 2018 annual working conference, Party building and anti-corruption work conference of NORINCO. The meeting also commended 2017 outstanding teams, HSE advanced units and individuals of ZhenHua Oil. Main leaders and representatives of related units signed the letters of responsibility on 2018's operation goals, HSE goals, Party building and Party style and clean government building.