Faced with the shortfall of crude oil resources and fast growing demands for energy sources at home, what will the company do to cope with it?
China’s economy has been constantly developing at a fast speed. In 2003, China has become the world’s second largest net importer of crude oil, ranking itself only after USA. Faced with quick growing demands for energy sources and shortfall of resources, the company will take active countermeasures as follows: To stabilize the operations in China’s east, accelerate the development efforts in China’s the companyst, and prepare for exploring China’s south. In fact, Sinopec’s crude oil and natural gas producing area in China’s east still witnesses “stable reserves” discovered now. The company will try our utmost to enhance the petroleum reserves by 100~150 million tons on an annual basis; in the meantime, the volume of the known reserves in the advantaged basin in China’s the companyst only takes up 3.85%~24.6% in the total, indicating that this basin area cherishes a great potential to be tapped. The company will also make harder efforts in pre-assessment of, and invest heavier in, the n
