On October 21, Jiang Zhenghong, Vice President of Sinochem Group and President of Sinochem Energy led a delegation to attend the Third High-level Meeting of the OPEC-China Energy Dialogue in Vienna. Zhang Qiang, Vice President of Sinochem Energy, was also present. Wang Nengquan, Chief Researcher of Sinochem Economics & Technology Research Center, gave a speech themed China’s Energy Transformation.

The meeting was co-chaired by Zhang Jianhua, Head of the National Energy Administration, and Mohammad Sanusi Barkindo, Secretary General of the Organization of the Petroleum Exporting Countries (OPEC). The meeting was attended by Wang Qun, Ambassador of Permanent Mission of the People’s Republic of China to the United Nations and other International Organizations in Vienna as well as over 70 participants from the governments, enterprises and research institutes of China, OPEC and other member states.

At the meeting, China and OPEC reached an agreement on further enhancing the exchange and cooperation. The participating representatives also made in-depth discussion about the issues, such as the short-term, medium-term and long-term development of the global oil market, OPEC + Cooperation mechanism, China’s oil and natural gas industrial development and energy transformation, how OPEC maintains the long-term steady development of the oil market and the development of Shanghai Futures Exchange.