How does the new Board of Directors plan out the long-term business expansion of the Company?
The Company is to concentrate its efforts on a major task of conducting “structural adjustments”, so as to further speed up the development of its principal business operations: Exploration and production segment: Major efforts are to be made to adjust the pace of increasing reserves and production capacities, and adhere to the guiding principle “maintain stable oil and gas production in eastern China, expedite exploration and production in western China, explore opportunities in southern China and pursue overseas expansion.”. Refining segment: Major efforts are to be made to adjust the production layout, cut down costs and enhance the efficiency, so as to increase the competitiveness. Chemicals segment: To peel off some non-principal business operations and focus on developing principal business operations, adjust the production and distribution portfolio, and meet the market demands. Marketing and distribution segment: To consummate the marketing network as soon as possible, enhance
