Sinopec "12th-Five" to Reach 50 mln Tons of Overseas Equity Oil

Sinopec Group recently held overseas upstream 'second five' cum 50 million tons target deployment mobilization, at which the target is revealed: 'Twelve Five' overseas equity oil output to reach 50 million tons, a figure has exceeded the nation's largest oil field Daqing Oilfield per year. In China, Sinopec refinery has been a 'long board', 2011, some indicators have been close to the world's leading oil refining level, while the upstream side, Sinopec and CNPC is still a considerable gap compared to, but overseas, Sinopec has and the oil is expected to rival, and the meeting should be made to give full play to their overall superiority, not only to make oil 'going out', but also efforts to promote the oil refining business, construction business 'go.'

'For 'second five' job, to be more focus on expanding resources to achieve the scale of resources to support strategy and internationalization strategy of the foundation.' Wang, general manager of Sinopec Group, Temple said, 'Eleventh Five-Year' Sinopec Overseas Development gratifying results, with a large number of quality assets and a good talent base, management infrastructure.

In fact, many people in the industry view, the bigger it is upstream from the last central Fu Chengyu, CNOOC will be transferred to one of Sinopec's mind, while Sinopec chairman Fu Chengyu, as indeed live after the public zxzsxxz hope this year, New Year's Day Shortly after, Sinopec Group announced the generous $ 2.2 billion acquisition of U.S. oil and gas assets of Devon's interest in shale.