On the morning of August 17, a research group led by Luo Tianjin, head of the Petrochemical Division of Fujian Provincial Department of Industry and Information Technology, visited FREP for research. Vice president Zhao Tianxing met with the group.

    

Zhao Tianxing welcomed the research group and introduced production and operation of the Company in the first half of this year. He commented that at present, crude oil prices fluctuated at high level, together with the increasing risk of inventory and the downside of chemical products market, the Company was facing with big challenges in production and operation in the second half of the year. Based on improving profitability and reducing expenses, the Company would optimize feeds procurement, increase sales of high-value-added products, implement the concept of "diligence and frugality" in the whole organization, thoroughly implement all measures to save cost, and work hard to create and increase profit.

   

Luo Tianjin commented that the purpose of this research was to deeply understand the current situation of production and operation of petrochemical industry as well as the existing difficulties. Next, together with other government authorities, they would work out measures to further promote sustainable and healthy development of petrochemical industry in Fujian Province.

     

The two sides also exchanged opinions on the topics of common concern, such as strengthening regulation of product oil market, creating a fair and healthy competition environment, opening up product oil export and assessment of energy dual-control targets.

   

Zhang Zhiping and Zheng Shuang, deputy general managers of Technical& Planning Department, also attended the meeting. (Wang Wei)