Sinopec Holds 2017 Refining and Chemicals Work Conference

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From February 20th to 21st, Sinopec held its 2017 refining and chemical industry meeting in Beijing. The meeting served to comprehensively review the performance of the refining and chemical sectors in 2016, analyze in depth the existing problems and shortcomings, and set goals for 2017. It was emphasized that the refining sector should stick to its targets, pursue thorough and consistent implementation, and continuously improve its profitability and efficiency； The chemical industry sector must strengthen its foundations, pursue innovation, improve quality and efficiency, and push its operations to new heights, so as to make greater contributions to helping the group company achieve its annual goals; it should also deliver outstanding results as a gift to the Party*. Wang Yupu, the chairman of the group company, issued special instructions prior to the meeting, fully recognizing the achievements made by the refining and chemical sectors in 2016. He encouraged the officers and employees in these sectors to roll up their sleeves and work harder in the new year in order to achieve even better results. Dai Houliang, General Manager of the group company, attended the meeting and delivered a speech. In 2016, faced with the severe situation of ensuring profitability for the group company as well as the substantial challenges they themselves encountered, all the cadres and employees in the refining and chemical sectors earnestly implemented the decisions and arrangements of the Party leadership group. They emphasized political awareness and the overall interest, promoted unity and encouraged contributions, made every effort to expand markets, optimize operations, reduce costs, and control risks. By coordinating various tasks, they achieved remarkable results in production and operations, saw significant progress in structural adjustments, began to turn losses into profits, and made solid strides in Party building work. All these efforts made a significant contribution to helping the group company achieve a successful start to the 13th Five-Year Plan period. Regarding the next steps, Dai Houliang put forward four requirements: first, one must be brave enough to take on heavy responsibilities and make every effort to generate more benefits. It is necessary to seek benefits from expanding the market, and truly treat market development as a vital project ； To achieve efficiency through cost control, efforts should be made to build a low-cost competitive advantage ； To achieve efficiency through stable operation, strict attention must be paid to safety and environmental protection, unplanned shutdowns, maintenance work, and the management of utility systems ； It is necessary to seek efficiency through resource optimization, fully leverage the advantages of integrated refining and chemical processing, and strive to achieve synergistic effects. Second, we must rely on strategic guidance to fully advance structural adjustment. The refining business should focus on sustainable development, while the chemical industry should strive to increase its output appropriately. It is also necessary to make full use of technological innovation as an important driving force, leverage the reform of mixed-ownership structures as a key strategy, and make use of the three-year rolling plans as a vital tool to continuously promote industrial upgrading and enhance sustainable development capabilities. Third, efforts to reform and improve management must be intensified with a focus on vitality and efficiency. New achievements should be made in advancing the three major reform initiatives, new breakthroughs should be achieved in carrying out pilot projects for the reform of the three systems, new progress should be made in improving incentive and restraint mechanisms, and further improvements should be seen in strengthening the work related to the ‘three basics’, all of which will provide strong impetus for transforming the development model, adjusting the economic structure, and improving quality, efficiency, and competitiveness. Fourth, it is necessary to adhere to strictness and pragmatism, and comprehensively strengthen Party building work. It is necessary to strictly ensure the implementation of responsibilities related to party building, to rigorously strengthen ideological and theoretical training, to enforce strict standards in party and organizational life, to work diligently on the development of cadre teams, and to enforce strict supervision, discipline enforcement, and accountability measures, in order to create a favorable political and management environment within the enterprise. The meeting conducted an in-depth analysis of the operational status of the refining and chemical sectors, as well as the macroeconomic and industry trends. The delegates had in-depth discussions and exchanges on the theme of the conference. Six companies, including Zhenhai Refining & Chemical, Maoming Petrochemical, Shanghai Petrochemical, Fujian Refining & Chemical, Qingdao Refining & Chemical, and Cangzhou Refining & Chemical, shared their experiences.