Dai Houliang attends ADIPEC 2020 Virtual Opening Ceremony and Virtual Strategic Conference
2020/11/10

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AIDPEC 2020 Opening Ceremony and Strategic Conference were held on-line on November 9, local time of Abu Dhabi. His Excellency Dr. Sultan Ahmed Al Jaber, Minister of Industry and Advanced Technology, UAE and CEO of ADNOC Group, delivered a keynote speech entitled "Resilience in a Post COVID-19 World". Dai Houliang, Chairman of CNPC, attended the opening ceremony via video link and addressed the Virtual Strategic Conference.

In his speech, Dai Houliang pointed out that 2020 is an extremely challenging, unusual and historic year. The COVID-19 outbreak, coupled with the plummeting international oil price has posed a great number of challenges to the global oil market and oil companies. Looking back at the past 20 years, the global oil and gas market experienced two cycles at a more faster speed. In face of the downturn of the industry, as an integrated energy company with characteristics of both IOC and NOC, CNPC has established its goal to build into a world-class integrated international energy company. Looking forward into the next five years, we will focus on high-quality development, spare no effort to increase value of the company, regain our low cost advantage, push for innovation-driven development, and sharpen our competitiveness.

Dai Houliang recognized the market as the key for the survival and development of enterprises. Along with the improving market situation in China, CNPC's sales in the third quarter rebounded to the level of the same period last year. In the future, through technological innovation and green development, CNPC will ramp up its natural gas investment, attach more importance to the development of new energy, form a development pattern dominated by oil and gas and complemented by alternative energys , and stick to the path of green, low-carbon and clean development, so as to contribute to China's ambition of carbon neutrality by 2060. CNPC will further open up cooperation, especially in technology and project implementation. CNPC will build closer partnerships with international counterparts to jointly address global uncertainty and press ahead with sustainable development across the energy sector.

In his reply to the host, Dai Houliang expressed that oil and gas will remain the core business of CNPC for the time to come since hydrocarbons emit less carbon dioxide as compared to coal. In response to energy transition, CNPC will step up technological innovation and actively promote the building of a "low-carbon energy ecosystem" in which fossil fuels and new energy are fully integrated, to enable the company stay highly competitive in the transition. In the future, CNPC will be committed to more extensive and pragmatic cross-industry cooperation in more areas, so as to lower full-cost and increase competitiveness, and strive for win-win cooperation with international parnters.

Vice President Huang Yongzhang and Assistant President Li Yueqiang joined the event.