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Review on the 5th CIOGTC

The 5th China International Oil and Gas Trade Congress (CIOGTC) was successfully held in Shanghai on 17th November 2016. With over  300 representatives from multinational and national oil companies, oil trading firms, financial, transportation and insurance businesses, famous energy research institutes and consulting agencies in 15 countries participated, the CIOGTC focused on the theme-- Integration and Innovation: New Engines to Reshape the Global Oil & Gas Trade,and shared views on the current global macro-economic landscape, the oil and gas markets in various regions, trends in global oil prices, as well as the emerging factors affecting the global oil trade, chances and challenges in the oil and gas markets in China and the world. The CIOGTC was sponsored by Trade Development Bureau (TDB) of the Ministry of Commerce (MOFCOM) of China, and supported by MOFCOM, National Energy Administration and Shanghai Municipal People’s Government.

Officials from MOFCOM and Shanghai Municipal People’s Government delivered welcome speeches at the opening ceremony. Executives from IEA, Glencore Group, China National Petroleum Corporation, Sinopec Group, Argus, S&P Global Platts, Shandong Dongming Petrochemical Group conveyed keynote speeches. Principals of the most representative and authoritative oil and trading companies as well as representatives from shipping companies, financial institutions, consulting firms and academia presented their views on market demand, pricing mechanism and hot-topics along the new engines of oil and gas trade. The CIOGTC was hosted by Mr. Sun Chenghai, Director General of TDB.

Since 2012, the CIOGTC has been successfully held in Shanghai, which has established a platform for exchange and cooperation among domestic and international enterprises in oil-related sectors and been well acknowledged with its development towards internationalization and professionalization.

The CIOGTC was co-organized by Shanghai Municipal Commission of Commerce, China North Industries Group Corporation, China National Petroleum Corporation (CNPC), China Petrochemical Corporation (Sinopec Group), China National Offshore Oil Corporation (CNOOC), Sinochem Group, Zhuhai Zhen Rong Company, China Aviation Oil Supply Corporation (CNAF), Shanghai International Energy Exchange, Shandong Dongming Petrochemical Group,Heilongjiang United Oil & Chemicals Co., Ltd., S&P Global Platts and Argus Co., Ltd, UK.

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