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Ambassador Fu Ying Visited the Headquarters of BP
2007/05/20

    Ambassador Fu Ying visited the headquarters of BP on 18 May. Mr. Gary Dirks, Vice President of BP Group and President of BP Asia and Pacific area received Ambassador Fu and introduced the current situation of international energy, energy security and climate change as well as BP's business and technology cooperation in mainland China.

 

    Mr. Dirks pointed out that BP entered Chinese market in the mid of 1970's, and its main operation is in the upstream business. After China adopted the reform and opening up policy, BP's business has expanded its operation to the Yangtze River Delta, Zhujiang Delta, Beijing, Sichuan Province and Chongqing, covering various fields including oil and gas extraction, chemical production, supply and marketing. Up to the 1st quarter of this year BP's investment in China added up to 4.2 billion USD, but did not reach 2% of its total foreign investment, so the potential for further cooperation is huge. Treasuring the good cooperative relations with China, BP planned to focus on cooperating to develop the petrochemical field and accelerating building oil refineries according to destination principle in addition to continuing to strengthen the cooperation in traditional fields. BP would like to reinforce the cooperation and development in the fields of new energy and technology with China.

 

    With regard to the current international energy situation, BP considered the shortage of supply will not appear in spite of the supply tension of international energy. Rather than shortage of energy, the problem is the high energy price resulted from uneven regional distribution of production and consumption as well as the disturbance of various non-economic factors. Oil dominates in the present energy consumption, which accounts for 36.4% of the total consumption, meanwhile, natural gas consumption has risen to 23.5% of the total energy consumption in the world, so did coal consumption. Economic development and energy consumption increase led to the rise of green gas emission. BP also introduced the relations between the present international energy consumption and climate change.

 

    Expressing her gratefulness for the warm reception and detailed presentation of BP, Fu Ying noted that China cherishes the good cooperation relations with BP, which has brought about mutual benefits, hoping the two sides will strengthen the cooperation in other fields. In line with Western Development strategy and the development of Mid-West China, China hopes that BP will invest in Mid-West China, and conduct technology transfer to China in the fields of clean coal and coal transformed into oil, etc.

 

    Fu Ying pointed out that following the economic development, the energy consumption is rising accordingly in China; in order to resolve the problem of energy supply, China should rely on itself, at the same time, strengthen international cooperation. New oilfields with reserves of 1 billion tons were discovered recently in China which will help alleviating the tension of energy supply. The Chinese government is taking positive measures to reduce energy consumption and develop new energy so as to reduce the greenhouse gas emission, for this purpose China will use the experience and advanced technology of other countries for reference.

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