Beijing.
Chang'an street.
The CEO of China Petroleum, Wang Yongping, attended meetings for the entire morning. When he walked out of the conference room and looked at his notes, he had a complicated expression on his face.
Since the beginning of the month, the upper management team had made a series of energy development adjustments. During the meeting, they made detailed arrangements for the development plans of several state energy companies for the next five years.
As for the content of the meeting…
It wasn't good news for China's petroleum industry.
First of all, the upper limit of offshore investment was reduced by around US$130 billion. Secondly, the signed contracts had remained unchanged and the expansion of overseas oil and gas fields had to be stopped within three years.
