On November 8, the 8th China International Oil and Gas Trade Congress was hosted in Shanghai by the Trade Development Bureau of the Ministry of Commerce with the support of the Ministry of Commerce, National Energy Administration and Shanghai Municipal People’s Government. Mr. Zhong Ren, Vice President of Sinochem Group and Vice President of Sinochem Energy, attended the conference and delivered a speech.
As pointed out by Mr. Zhong Ren, the global oil trade is currently faced with in-depth adjustment and China’s oil trade industry will embrace great development opportunities, which will give new momentum to the economic development of China and the world. The rapid development of cutting-edge information technologies such as artificial intelligent, blockchain, big data, cloud computing and Internet of things, will push forward the profound reform in the global oil trade industry and also present strategic opportunities to China’s international oil trade. Adhering to the core value of In Science We Trust and answering to the government’s call to build China into a science & technology giant and pursue independent innovation, Sinochem Group has made active exploration in the areas of energy and petrochemical blockchain. With the aid of distribution technologies, petrochemical blockchain projects are devoted to serving the industry-level digital application platforms for energy and petrochemical trade. The whole energy and petrochemical industry chain, including commodity trading, warehousing & logistics, supply chain finance and credit investigation system, will be empowered. The application scale, value and benefits will be also maximized.
Moreover, Sinochem Energy High-Tech Co., Ltd. organized the forum with the theme of “The Operation and Practice of Digital Documents for Oil and Gas Trade”. Together with 7 partners, the company released the While Paper of the Application of Blockchain to the Energy and Petrochemical Trade Industry (Guideline) to display the achievements about the application of blockchain technologies to the energy and petrochemical industry in the past two years and the outlook on the future of the industry.