Infocus International Announces Online Training on LNG Supply, Demand, Pricing & Trading

Singapore, Jun 14, 2021 – (ACN Newswire) – The best rated LNG Supply, Demand, Pricing & Trading online training is back by popular demand with updated agenda and it will be commencing live on 8 September 2021.

At the beginning of 2020, the LNG business was looking forward to another year of expansion after a successful 2019 during which production increased by 42.5 mt and final investment decisions (FIDs) were taken on 71 mtpa of liquefaction capacity. COVID-19 has radically changed those expectations. LNG production continued to increase rapidly in the first quarter of 2020 as output from LNG trains that started up in 2019 built up to full capacity. However, demand weakened in the second quarter as lockdowns in many LNG importing countries to control the spread of COVID-19 slowed economic activity.

Increased supply and declining demand have led to an over-supplied market, with spot prices for LNG falling to levels not seen before in the second quarter and the cancellation of US LNG cargoes. However, prices began to recover during the third quarter with demand expected to strengthen in the winter months. The construction of new liquefaction trains has been delayed and final investment decisions (FIDs) on new capacity have been deferred. However, the long-term outlook for LNG remains robust as lower prices increase the competitivity of natural gas with coal and oil in the power generation and industrial sectors.

This course will be over six sessions, providing an overview of the LNG business in 2021 with a commercial focus but technical and shipping will also be covered. It will consider the outlook for the business over the period to 2035 in terms of markets, sources of supply, pricing and trading. It is designed for newcomers to LNG and those who want to refresh their knowledge or have experience in one part of the business or one region and want to widen their knowledge.

Benefits of Attending

– Understand LNG chain technologies, costs, economics and safety
– Appreciate how the LNG business is changing and the implications for those working in the business
– Gain insights into LNG pricing and how it is evolving
– Acquire in-depth knowledge of world LNG markets and supply sources
– Assess the increasing role of spot and short-term trading

Want to learn more?

Simply email to emilia@infocusinternational.com or call +65 6325 0210 to obtain your FREE COPY of event brochure. For more information, please visit https://www.infocusinternational.com/lng-online.

About Infocus International Group

Infocus International is a global business intelligence provider of strategic information and professional services for diverse business communities.

Infocus International recognises clients' needs and responds with innovative and result oriented programmes. All products are founded on high value content in diverse subject areas, and the highest level of quality is ensured through intensive and in-depth market research from local and international insights.

Emilia Mok
Tel: +65 6325 0210 | Email: emilia@infocusinternational.com
Website: www.infocusinternational.com

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Zhongyu Gas bucking the trend in 2020 with a low-carbon economy conducive to future growth

HONG KONG, Apr 26, 2021 – (ACN Newswire) – In the past year, the global economy was hardly hit by the impact of COVID-19. In the first quarter of 2020, various localities suspended work and production due to the pandemic, resulting in a sharp decrease in industrial and commercial gas demand. However, after the resumption of work in full swing, the upstream price reduction policy was basically completed, and the retail prices of natural gas began to rise in some provinces, leading to a rebound in demand from industrial and commercial users and a further rise in the spread. Coupled with the surge in natural gas demand during the heating peak season in the fourth quarter, the gas segment was not impacted as a whole in 2020 and maintained a stable development.

Breaking through value-added services as a new driver of growth in the year against the adverse market trend

Zhongyu Gas is a pioneer in the gas industry. Since its establishment in 2002, Zhongyu Gas has always adhered to the philosophy of "developing clean energy to achieve a better life," and endeavored to promote resources optimization and environmental improvement in the regions they serve through the optimization of energy structure in the operating area.

In 2020, the PRC government has made continuous efforts to promote environmental policies such as clean energy heating plan and the "Three-Year Action Plan for Winning the Blue Sky War" and other environmental pollution controls. The natural gas industry continued to grow against the trend. At the same time, affected by the policy, the spread of unit price of residential natural gas prices has widened, and the price elasticity has increased under the seasonal price adjustment mechanism, which is also conducive to reducing the gas consumption cost of downstream enterprises, continuing to bring business opportunities to Zhongyu Gas.

The Group exploited new business opportunities under a complex and ever changing development environment, swiftly planned the development strategy of "one body, three wings" in 2020, eventually achieving growth in both revenue and profit against the adverse trend. In 2020, Zhongyu Gas recorded a turnover of approximately HK $8,544 million, representing a year-on-year increase of 4.9%; profit attributable to owners of the Group was approximately HK $1,057 million, representing a year-on-year increase of 145.7%.

With the three-year rapid promotion of the "coal-to-gas" project in Beijing-Tianjin-Hebei and its surrounding areas and initial achievements in air governance, the penetration rate of users in the original "2 + 26 + 8" provinces and municipalities has increased significantly. The sustainability of the profit growth model was challenged, which focuses on residential connection among city gas enterprises in the downstream market of the natural gas industry .It has become the inevitable choice for enterprises to innovate their business ideas through exploring the market by providing value-added services with light assets and high gross profit margin.

Since 2017, Zhongyu Gas has made great efforts to build a value-added business segment and established its own kitchen electric brand "Zhongyu Phoenix." In 2020, Zhongyu Gas strengthened its promotion efforts of "Zhongyu Phoenix" to improve the retail brand awareness in the regions it operates by expanding its product portfolio and enhancing its brand awareness. As at the end of 2020, the turnover of the value-added gas services segment of Zhongyu recorded HK $636 million, representing a year-on-year increase of 54.2%. To date, Zhongyu Gas Service Company has 18,777 industrial customers and 3.96 million residential users. With the growth of customer base and formation of brand effect, the turnover from sales of stoves and other related services by Zhongyu Gas Service Company continued to grow. It is expected that it will be a growth driver of Zhongyu Gas in the coming years.

Zhongyu Gas under the Layout of "One Body, Three Wings" to Embrace Industry Opportunities

2021 marks the beginning of the 14th Five-Year Plan when the gas industry welcomed a number of favorable policies. In 2021, the No.1 Central Document proposed to "promote the transportation of gas to the rural areas and support the construction of safe and reliable rural gas storage stations and micropipe network gas supply systems." Unlike "coal to gas" in 2017, which aimed to promote air quality and improve farmers 'living standards, the proposal to "promote the transfer of gas to the rural areas" is one of the important measures to fully implement the rural vitalization strategy and strengthen rural infrastructure construction after China has been fully lifted out of poverty, which implies significant industrial investment opportunities.

At the same time, in the 14th Five-Year Plan period, China will continue to push forward "increasing gas and reducing coal," create a new development approach whereby domestic and foreign markets can complement each other, and promote the target of "carbon neutrality", making green transformation of energy more urgent. Benefiting from the clean energy related policies, the gas industry will embrace important development opportunities, and Zhongyu Gas will also benefit from such opportunities.

To seize the market opportunities, Zhongyu Gas launched the "One Body, Three Wings" strategy just in time. In particular, "One Body" refers to the enhancement of customer service and emphasis on the civil industrial and commercial customer service system by rooted in the core urban gas business to win market recognition through innovative and personalized service in the whole process; the "Three Wings" covers "Internet +" and new retail markets to explore online sales; vigorously promoting businesses related to distributed energy and intelligent power grid and enhance gas source protection and energy trading.

In recent years, with the explosive growth of infrastructure in the urban gas industry, it has become a general trend for urban gas management to implement digital and intelligent transformation, thereby optimizing the supply and industrial chain and improving the economic benefits of enterprises. "Internet +" and New Retail, as one "wing" of the "Three Wings," have achieved significant progress. In April 2020, Zhongyu Gas launched a new retail platform, Zhongyu iFamille, to provide gas-related services and products as well as household products for residential customers, completely upgrading the service to a "new retail model." Zhongyu iFamille not only moves the sales of products such as Zhongyu Phoenix from "offline" to "online," but also establishes a brand-new service collaboration and supply chain system by introducing other merchants and connecting with the "cloud" commodity library, helping Zhongyu Gas to further integrate into customers' daily lives to enhance customer stickiness.

With advent of the low-carbon economic era and promotion of policies such as the introduction of gas to rural areas, China's energy structure will continue to transform and upgrade. During the "14th Five-Year Plan" period, renewable energy will become the main source of energy increment, and comprehensive energy services will embrace great opportunities. Energy enterprises are also taking advantage of the trend of digitalization and intelligentization to build integrated energy solutions. Leveraging the favorable national policy on "Internet +" smart energy, Zhongyu will vigorously promote distributed energy and smart grid related businesses. The Group will actively develop various new projects such as photovoltaic power generation, ground source heat pump, cold storage facilities, charging piles and charging stations for new energy vehicles.

In addition, Zhongyu Gas will also adopt the strategy of integrated industry chain, actively respond to market changes after establishment of the national pipeline network companies and promote gas source protection and energy trade. With a strategic focusing on the future, the Group will not only focus on the planned direction of policy energy reform, but also connect the upstream and downstream links of the value chain and support the industry's development towards the energy markets of developed countries and control the risks to middle and downstream enterprises of natural gas.

To closely grasp the development trend of the industry, Zhongyu Gas will adhere to the operating principles of "market-oriented, customer-oriented and economic efficiency-oriented," continuing to strengthen the core operation position of the urban gas business; the Company will strengthen the value-added services to the existing customers of the new retail segment and promote new business to them, and carry out supply chain resources integration, service integration and community sales; and integrate related products of downstream users to carry out cross-industry commercial cooperation. Further enhancing the bargaining power of resources procurement and Group's ability to supplement and balance gas volume and gas price, as well as optimizing gas source structure and related cost structure, the Company strives to become the most valuable integrated energy service provider, promotes the high-quality development of the "One Body, Three Wings" development strategy and returns the society and the public with excellent performance.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

China Gas Enters into Strategic Cooperation Framework Agreement with Sinopec

HONG KONG, Mar 4, 2021 – (ACN Newswire) – China Gas Holdings Limited ("China Gas" or the "Group"; stock code: 384), a leading piped-gas operator in China, announced today that it has entered into a strategic cooperation framework agreement ("Agreement") with China Petrochemical Corporation ("Sinopec") on 4 March 2021. The Agreement will enable both parties to join forces and fully leverage each other's advantages in resources and downstream market, helping them engage in all-round cooperation in areas including natural gas procurement, liquefied natural gas ("LNG") receiving terminal utilisation, downstream gas projects, oil and gas (natural gas and hydrogen) stations/recharging poles and liquefied petroleum gas ("LPG") business. Both parties will therefore seize the immense opportunities generated from China's clean energy development and energy structure improvement.

Under the Agreement, the Group will commence strategic cooperation with Sinopec in three main areas. In the natural gas business, both parties will study and cooperate in the establishment of a natural gas trading company. This trading company will be responsible for centralised procurement from Sinopec's natural gas resources pool based on the Group's needs. The parties will also cooperate in the establishment of a joint venture company that is tentatively controlled by China Gas. This joint venture company will be responsible for the merger and acquisition of downstream gas companies, as well as acquisition of downstream gas project concession rights.

As for LNG business, Sinopec will support China Gas to invest in their newly-established LNG receiving terminal projects, and it will enjoy the window period rights for receiving and unloading LNG import resources according to their respective shareholding, enabling the Group to realise its strategic LNG import plan as soon as possible. Also, by leveraging the Group's logistics advantages in regional city gas projects, coastal LNG imported trade and onshore LNG logistics capacity, as well as giving play to the layout of Sinopec's petroleum/gas stations, both parties will cooperate in developing gas/recharging pole joint stations, LNG distribution warehouse and relevant logistics system, as well as jointly develop initiatives in the transportation energy business.

With regards to LPG business, the Group being the largest vertically integrated LPG business service provider, will deepen its cooperation with Sinopec in the fields of LPG trading and logistics, including jointly facilitating the establishment of the national association of LPG importers, coordinating external procurement, and promote the formulation and application of China's LPG import price index. The parties will also conduct a joint study on the feasibility of investing in the construction of public liquefied hydrocarbon storage facilities in coastal and riverine areas, as well as explore the feasibility of commencing cooperation in the supply of liquefied hydrocarbon resources. China Gas will also allow Sinopec to rent and use its LPG terminals and storage facilities in order to provide support to Sinopec's onshore LPG resources operation.

Mr Liu Ming Hui, Chairman, Managing Director and President of the Group, said, "China is pushing ahead strongly in its development for green energy and an enhancement in energy ecosystem comprising production, supply and storage, in an effort to promote the mass adoption of clean energy using market-based principles. As a leading piped-gas operator, China Gas has strived to enhance its core competitiveness through business and market innovation over the years to achieve high-quality and all-rounded business growth. The Strategic Cooperation Framework Agreement with Sinopec represents a major market breakthrough for the sustainable and rapid development for the Group. On one hand, the Group will accelerate the pace of the Group's LNG imports to diversify supply sources while lowering gas purchase costs, which will enhance the Group's ability to guarantee gas supply. On the other hand, the comprehensive cooperation between the two companies in various aspects such as LPG resources supply, trading and logistics will strengthen the Group's extensive deployment in the upstream, midstream and downstream of LPG, greatly promotingthe utilization rate of assets such as terminals and storage areas, and realize the rapid development of trading and terminals, terminals and our new Smart MicroGrid business as we embark on its full value-chain development."

"Driven by the country's push for more stringent environment protection policy and reforms in energy structure, the development of clean energy industry is expected to continue, providing an important policy backing to support China Gas' fast and sustainable growth. On February 21, 2021, China issued 2021 No. 1 Central Document titled 'Opinions of the Central Committee of the Communist Party of China and the State Council on Comprehensively Promoting Rural Revitalization and Accelerating Agricultural and Rural Modernization'. It stressed 'the promotion of gas to villages and support for the construction of safe and reliable village gas tank stations and microgrid gas supply system'. After eight years of exploration and integration of new technologies such as IoT, 5G and cloud platforms, the LPG Smart MicroGrid gas supply system developed by China Gas has ushered in a huge development opportunity. The strategic cooperation with Sinopec will help the Group enrich the resource supply channels and accelerate the nationwide expansion of its new business of Smart MicroGrid. It shall also provide 'smart' energy for the society and the public, and provide diversified green energy for the national economic development, as well as to create greater value for our shareholders, society and employees."

About China Gas
China Gas Holdings Limited ("China Gas", stock code: 384.HK) is a gas services provider in China, principally engaged in the investment, construction and management of city gas pipeline infrastructure, distribution of natural gas and LPG to residential, industrial and commercial users, and through gas stations to the transportation sectors. China Gas owns a total of 636 projects in cities and towns with piped gas concession rights, 17 natural gas pipeline transmission projects, 556 CNG/LNG refilling stations for vehicles and vessels, 106 comprehensive energy supply projects and one coal bed methane development project, as well as the license to import and export LNG and other fuel products in China, in addition to 113 LPG distribution projects.

For more information, visit www.chinagasholdings.com.hk

For enquiries: Strategic Financial Relations Limited
sprg_chinagas@sprg.com.hk or:

Ingrid Cheng Tel: (852) 2864 4836 ingrid.cheng@sprg.com.hk
Elaine Wang Tel: (852) 2114 2821 elaine.wang@sprg.com.hk
Kay Lau Tel: (852) 2114 2239 kay.lau@sprg.com.hk

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

China Gas responds to China’s rural rejuvenation strategy by introducing unique Smart MicroGrid village gasification technology

HONG KONG, Feb 24, 2021 – (ACN Newswire) – On February 21, 2021, China issued 2021 No. 1 Central Document titled "Opinions of the Central Committee of the Communist Party of China and the State Council on Comprehensively Promoting Rural Revitalization and Accelerating Agricultural and Rural Modernization". It requested the strengthening of rural public infrastructure construction while placing the focus of public infrastructure construction on villages, extending to coverage of villages and households. It also stressed "the promotion of gas to villages and support for the construction of safe and reliable village gas tank stations and microgrid gas supply system". The gas tank stations and microgrid gas supply system mainly refer to the unique liquefied petroleum gas (LPG) Smart MicroGrid system developed by China Gas Holdings Limited ("China Gas"; stock code: 384). President Xi Jinping also emphasized that strengthening rural public infrastructure construction is key to the sustainable and healthy economic and social development of villages and is fundamental to the realization of rural rejuvenation as a whole.

In response to China's rural rejuvenation strategy and rural construction policy as well as assist the country in implementing the "Fighting for the blue sky Campaign", China Gas has started to invest in and implement the village gasification strategy and promote the green transformation of production models, extending to the lifestyles and habits of citizens and industrial and commercial users early in 2016. The Group has built up considerable technologies and amassed extensive experience in market development and sound operation in related fields. Following eight years of research and execution, the Group has commenced the adoption of its unique and innovative township LPG Smart MicroGrid technology in Central and Southern China and coastal areas via light asset investment.

China Gas has learned from mature technologies from foreign countries and introduced new technologies such as IoT and smart and cloud platforms to develop more advanced, cost-effective and safer LPG Smart MicroGrid integrated energy utilization platforms. The consumption pattern of the Smart MicroGrid is the same as piped natural gas, but the former boasts lower construction costs. Also, the Smart MicroGrid is more cost-effective and safer than liquefied natural gas (LNG) supply and bottled LPG gas, making it a revolutionary gas supply model suitable for large-scale promotion in villages across China.

Smart MicroGrid is unique technology developed by China Gas that is aimed at creating a low-carbon livable environment, following the industrial "coal to gas" and village "replacement of coal with gas" projects. The Group is also able to invest in Smart MicroGrid technology for application in villages, townships and small communities across the country, in particular, Central and Southern China and coastal areas. These geographical locations currently represent a huge untapped market involving approximately 90 million families.

The Smart MicroGrid technology was successfully applied in certain projects in the Qinghai and Hubei provinces in 2019. This has paved the way for the pursuit of "bottle to pipe" reform in rural areas, establish "beautiful villages" and improve the living standards of farming families, and have gained significant recognition from the government. Currently, it is widely used in other provinces, such as Yunnan and Zhejiang. Since China Gas mapped out its investment in the Smart MicroGrid business in June 2020, market development has proceeded smoothly, and provincial agreements have been signed in Qinghai, Hainan, Yunnan and Guangdong. China Gas has also signed strategic agreements with 15 provincial-level municipalities and 11 counties, serving over 25 million households. Furthermore, its accumulated residential user contracts amount to over 1 million households, with engineering design and construction work proceeding expeditiously.

Considering the enormity of the township market, which is projected to connect 3 million urban users a year in the coming four to five years, China Gas will be able to connect to more than 15 million township users, generating over RMB 15 billion in profit. Based on a conservative estimate, its total revenue will grow at a CAGR of over 20%, which is much higher than the industry average. Hence, China Gas' valuation will still have significant room for growth.

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Petraco Appoints Alberto Salsiccia As Chief Financial Officer

LUGANO, CH, Nov 26, 2020 – (ACN Newswire) – The Petraco Group has appointed a new Chief Financial Officer, Mr. Alberto Salsiccia. He will take on his predecessor's position with a desire to maintain the Group's strong presence in commodities trading as well as the company's commitment to meet global energy demand while promoting a sustainable and low carbon future. Prior to joining Petraco, Alberto Salsiccia served as a consultant for PwC Milan and EY Zurich in the areas of Banking and Capital Markets.

A spokesperson for Petraco stated "We are thrilled with Alberto's appointment. He is incredibly well-prepared to lead the financial aspects of our business and will undoubtedly bring enthusiasm and passion to his role". Many commodity trading houses, like the Petraco Group, have well-established financial departments which maintain relationships with financial stakeholders. The nature of the physical trading business means a good rapport with banks is important.

Highlighting the company's open door, collaborative and collegiate culture, Alberto said "Petraco is an incredibly friendly workplace, and I am thrilled to be heading their highly capable financial department. We are currently consolidating our position as physical traders working to do our bit in achieving a low-carbon future." This is in line with other commodity trading houses who have also invested in recent years to diversify their businesses to ensure emissions reductions. Many of these companies have added LNG trading into their business, a product with lower carbon emissions, as well as electricity and carbon permit trading.

"Petraco has always been and will always be a company that prides itself on its employees. We simply would not be where we are today without our highly qualified and capable staff. Our recruitment process is rigorous, yet personality is often key. It is so great to be able to work alongside trade finance officers who work together as a real team". Alberto started in Petraco's Accounting & Compliance Department, before being introduced to trade finance and eventually being promoted to the prestigious position of Chief Financial Officer.

He added, "I have some big shoes to fill after the fantastic work of our previous CFO, especially in light of the challenges presented in 2020. The oil industry suffered a great hit but for us the first and foremost priority is the safety of our employees during the Covid-19 crisis. We are lucky to live in the beautiful city of Lugano with our offices against the backdrop of a spectacular mountain landscape, but we must never become complacent or take anything for granted. Hard work and safety are the main priorities".

Read more about Alberto's appointment as CFO at https://www.linkedin.com/company/petraco-group/.

Media Contact
Petraco Oil Company SA
Mr. Alberto Salsiccia
petraco@petraco-oil.com
http://www.petraco-oil.com

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

China’s petrochemical industry launches blockchain warehouse receipt financing trade

BEIJING, China, Oct 15, 2020 – (ACN Newswire) – On September 27, China's petrochemical industry saw its first digital warehouse receipt pledge financing transaction that integrates blockchain and Internet of Things (IoT) technology successfully implemented in China, providing new solutions for small and medium-sized petrochemical enterprises perplexed by overly expensive and slow financing.

This transaction has involved China's Sinochem Energy High-Tech Co., Ltd., China Construction Bank Inner Mongolia Branch, and Nanchu Management Group Co., Ltd. The financing party, Beijing Longrunkaida PEC Products Co., Ltd., is one of the largest traders in lubricant and base oil industries in northern China in terms of sales volume. From the application for issuance of warehouse receipts to the bank's appropriation of the loan, it took less than one day with a cost 40% lower than that of common trade finance services in the market.

Ma Xiaohui, Chief Financial Officer of Beijing Longrunkaida, introduced the process of this financing deal, "Through Sinochem Energy High-Tech's '(Blockchain) Digital Warehouse Receipt Platform', we applied to Nanchu Management Group for the issuance of warehouse receipts with our stored base oil. With the receipts, we submitted an online pledge application to China Construction Bank and received the loan in the afternoon."

Why financing is difficult and expensive for petrochemical SMEs

Presently, the continuous spread of global Covid-19 pandemic and the safety and environmental management upgrade are driving the operating costs of the entire industry up. Petrochemical companies are facing increasing financial pressures every day. However, for a long time, the traditional credit risk control system emphasizes on "reviewing the credit of the financing entity but not the goods", making it difficult for "small enterprises with high value of movable assets" to meet the credit granting conditions of financial institutions.

On one hand, it is difficult for financial institutions to track the transaction process of bulk commodities due to the lack of effective risk control measures, especially those of "controlling goods" which could lead to frequent risk issues like false warehouse receipts, unclear property in goods, repeated pledges, impairment or loss of collateral. Financial institutions have been affected so badly to tighten lending on warehouse financing.

On the other hand, since warehousing companies often fail to get updates on changes in goods property and pledge rights, disputes on goods property and warehouse receipt finance become commonplace. Unscrupulous enterprises would forge seals and issue false inventory certificates, delivery documents, amongst others. After being duped, the deceived company often sues the warehousing company as well, who hence have little choice but to quit issuing warehouse receipts and related business with financial supervision, but focus solely on warehousing business with limited income.

Blockchain digital warehouse receipts are a panacea for financing problems

Based on a deep understanding of the financial pain points of the petrochemical supply chain, Sinochem Energy High-Tech has built a "Blockchain Digital Warehouse Receipt Platform" (hereafter as the Platform) which opens up third-party warehousing services, a key node of liquid logistics. The company not only conducts consistent research on digital warehouse receipt pledge and demonstrates the financing business model to China Construction Bank constantly, but continuously polishes products and operating plans.

From the issuance of digital warehouse receipts by warehousing companies to pledges and loans, Sinochem Energy High-Tech participates as a trusted technology provider and is highly recognized by China Construction Bank. Transforming the traditional commodities in circulation into safe and efficient digital assets with good liquidity that can penetrate directly to the bottom layer, the Platform has shaped a credible asset system with "Blockchain Digital Warehouse Receipts" as a medium.

"Compared with traditional print warehouse receipts, the Platform is the first to realize strict correspondence between digital warehouse receipts and stored goods. It uses IoT technology to monitor the goods under digital warehouse receipts closely, to ensure that each warehouse receipt directly assures the existence of goods. In addition, the platform realizes swift goods delivery, receipt pledge, as well as integration of "four flows" (the receipt flow, capital flow, contract flow, and goods flow). Moreover, blockchain technology ensures that the recorded data cannot be tampered. This could guarantee the uniqueness and traceability of the data, and greatly improve the industry's credit rating," said Sun Liming, Vice President of Sinochem Energy High-Tech.

Connecting financial institutions and industries to bolster the development of the real economy

On September 22, eight Chinese ministries or commissions including the People's Bank of China, the Ministry of Industry and Information Technology, issued the "Opinions on Regulating the Development of Supply Chain Finance and Supporting Stable Cycle, Optimization and Upgrade of the Industry Chain of Supply Chain" (the "Opinions"). It requires financial institutions and business entities to strengthen information sharing and collaboration; improve the digitalized level of supply chain financing settlements; standardize the development of supply chain inventories, warehouse receipts, and order financing; and strengthen the risk protection support for supply chain finance.

"The Platform is highly consistent with the 'combination of financial technology and supply chain scenarios to prevent supply chain financial risks' requirement listed in the 'Opinions'. It achieves the transparency in warehousing data, and dynamic monitoring on collateral quantity and value, etc. In the future, we will expand on our collaboration with Sinochem Energy High-Tech to reduce financing difficulties, operating costs and capital costs for supply chain companies. We will take practical actions to stimulate the quality and efficiency of the real economy," said the relevant source in China Construction Bank.

It is understood that in the future, Sinochem Energy High-Tech will work with China Construction Bank, China Association of Warehousing and Distribution, warehousing companies, commodity inspection agencies, goods owners, and Shanghai Petroleum and Natural Gas Exchange Co., Ltd to jointly establish an ecosystem of digital warehouse financing, to consistently help financial institutions to improve loan risk control capabilities; help petrochemical warehousing companies to obtain incremental income; and SMEs to solve financing problems. Sinochem Energy High-Tech will strive to further promote the optimization and upgrade of supply chains and related industrial chains.

About Sinochem Energy High-Tech

Sinochem Energy High-Tech Co., Ltd. (Sinochem Energy High-Tech for short) is an internet technology company under Sinochem Group's branch company, Sinochem Energy Co.,Ltd. Sinochem Energy High-Tech, supported by cutting edge technologies including AI (Artificial Intelligence), Blockchain, IoT (Internet of Things), Cloud Computing, and Big Data, has set out to develop into an "Energy + Technology" company committed to promoting in-depth integration of internet technology and the petrochemical industry, becoming a leading smart operator in the petrochemical industry.

In the years to come, Sinochem Energy High-Tech will focus on redefining the operating model of the petrochemical industry, establishing digital service infrastructure that covers the full value chain of the petrochemical industry, and becoming a leader of smart solutions and service provider in the industry. For more information, visit www.66yunlian.cn.

Media contact:
Sinochem Energy High-Tech Co., Ltd.
Contact: Xie Yimei
E-Mail: xieyimei@sinochem.com
Tele: +183 1060 7956
Address: C-1 Building 2F, Yongyou Industrial Park (Beijing),
No.68 Beiqing Road, Haidian Disrict, Beijing, China 100094

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

The future of Azerbaijan is closely linked to SOCAR Corporation

BAKU, Azerbaijan, Sep 29, 2020 – (ACN Newswire) – The direction chosen by the state oil company allowed Azerbaijan to take the first place in gas supply to Turkey. Such changes have raised Azerbaijan's rating on the European gas market.

This fact becomes a reason to consider Azerbaijan as an influential world player. The USA Tribune, an American news outlet, quoted President Ilham Aliyev's speech on the landmark changes in the energy sector over the past years. This does not mean simple extraction of raw materials, but transaction support and related transport services. The state's construction and engineering organizations, which SOCAR has provided with prosperity, are closely connected with the oil industry.

Azerbaijan's largest agreement with seven world powers, including Saudi Arabia, the United States, Russia and the United Kingdom, was called the "Contract of the century". On September 20, 1994, 13 giant companies laid down the main oil strategy, which opened up new horizons for Azerbaijan's integration into energy trading on a global level with other States. This transaction generated a profit of more than 150 billion dollars.

Heydar Aliyev ratified this contract in December 1994, which allowed the partners to develop the Azeri, Chirag and Guneshli oil fields. Azerbaijan became a member of the oil Empire thanks to this agreement. And in the next 20 years of joint work, SOCAR succeeded. The company's subsidiaries in Switzerland, the UAE, Turkey and Russia represent a well-developed network.

The acquisition of the Turkish chemical holding Petkim allowed SOCAR to introduce transport, construction and engineering services in Turkey. Petkim polymer production is not limited to meeting the needs of the Turkish state, but also exports and participates in the construction of major trade and transport hubs, such as container ports. To do this, the company attracts new partners.

In Georgia, SOCAR owns a network of gas stations, and the company is also investing in the construction of the Supsa sea transport hub.

The company owns a network of its own gas stations on the territory of Ukraine, cooperates with Switzerland, China and African countries.

SOCAR is recognized as the largest taxpayer in Kazakhstan, a strategic partner of the United States and one of the world's most influential oil business corporations. According to the audit reports for 2019, the company's cash turnover amounted to $ 50 billion.

The profession of an oilman is held in high esteem in Azerbaijan. President Ilham Aliyev has personally worked in the oil industry for 9 years and knows from experience what risks oil workers put themselves at, ensuring a decent life for the people of their country and a place of honor for the state in the world. This is a feat worthy of respect.

On September 20, the country annually celebrates a professional holiday – oilman's day. People of this profession ensured the flourishing of the energy economy of Azerbaijan.

Media contact
Contact: Mamed Gasanov
Address: 121, Haydar Aliyev Avenue, Baku, AZ1029, The Republic of Azerbaijan
Phone: work +994 12 5210282 | Fax: +994 12 5210383
Email: Gasanov@socar.az
Website: http://www.socar.az/

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

SOCAR as a Main Pillar of Azerbaijani Statehood

BAKU, Azerbaijan, Sep 26, 2020 – (ACN Newswire) – SOCAR – the State Oil Company of the Azerbaijan Republic – is now the main gas supplier to Turkey. A year ago Azerbaijani gas was in 4th-5th place in the Turkish market, now we are in first place, which is very important for us and for Turkey, because gas provides energy security for any country.

Just 20 years ago, our country did not even think about the role of main gas exporter to one of the largest gas markets in Europe. The situation in Azerbaijan has changed a lot in recent decades. Azerbaijan's role has increased globally, and not only in the oil sector. – President of the Republic of Azerbaijan, Ilham Aliyev.

The first step towards establishing SOCAR as one of the world's gas suppliers was the signing of a contract on September 20, 1994 between the Government of Azerbaijan and eleven international companies representing six countries, for the development of the Azeri-Chirag-Guneshli block of fields. Called the "Contract of the Century", this agreement became the basis of the oil and gas strategy laid down by Heydar Aliyev. Revenue from this contract has exceeded $150 billion.

In 1990, SOCAR was a national Azerbaijani company with a small global production level, but 20 years later it has become a respected player in the world oil market. Over the years, SOCAR has turned into a large oil and gas company with business in Switzerland, Romania, Ukraine, Georgia, Turkey, UAE, Russia, and other countries.

Turkey occupies a special place in SOCAR's investment projects, where the company bought a large petrochemical complex Petkim, built a STAR refinery, and is developing a transport and logistics direction. In addition, the company has a wide business in Georgia, owning a network of gas stations and gas distribution networks.

According to the company's most recent audit report, SOCAR's turnover in 2019 was $50 billion, with 93% of this turnover coming from operations in the foreign markets.

"Oil workers have always enjoyed great respect in Azerbaijan. This is the case today; the work of oil workers is real heroism. The profession of an oil worker is respected and at the same time risky, dangerous, I want to reiterate that their work is real heroism," said Ilham Aliyev, who worked himself for 9 years in SOCAR, in giving such a high assessment to the oil workers.

And the oilmen deserve special attention in this matter. On September 20, Azerbaijan celebrated Oil Workers' Day, recognizing the people who ensure the flourishing of the Azerbaijani economy with their experience, hard work, health, and sometimes even lives.

Media contact:
Mamed Gasanov
SOCAR, The Republic of Azerbaijan
Email: Gasanov@socar.az | www.socar.az

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Oil Price: Ahmed Maiteeq is in Turkey on a working visit after the signing of an agreement that unblocked Libyan oil

London, UK, Sep 26, 2020 – (ACN Newswire) – Oil Price, a British Company, has released a research report about the situation with oil in Libya. Ahmed Maiteeq, Vice Chairman of the Presidential Council of Libya, arrived in the capital of Turkey to take part in a series of working meetings. Last week he announced the creation of a Joint Commission to control oil revenues and ensure the fair distribution of these revenues in accordance with the principles set out.

According to a document that he published, this Commission would manage the distribution of revenues from Libyan oil export and the main functions of the Joint Commission will be to form a budget that is fair from both sides' point of view and to oversee the implementation of agreed expenditures. The Commission will perform its functions until a new unified government of Libya is elected. As a result of it the National Oil Corporation of Libya (NOC) announced that the status of 'force majeure' had been removed from the "safe" fields and ports.

Libya's economy is entirely based on oil production. Recall, that production in Libya plummeted to less than 100,000 barrels a day in January from 1.2 million. Goldman Sachs Group Inc. forecasts that Libya's output will rise to 550,000 barrels daily by the end of the year (Bloomberg: https://tinyurl.com/y2kvg9qx)

Experts note the role of Maiteeq, Libya's former prime minister, in the peace settlement in Libya. Previously, he had been on more than one occasion with diplomatic missions in different parts of the world, from Washington to Moscow. During a visit to Moscow in June 2020, Maiteeq predicted a decrease in the intensity of the conflict, and it was realized. And this is Maiteeq, who is responsible for peaceful talks between conflicting parties in Libya. (OilPrice.com: https://tinyurl.com/y544ob9f)

Stuard Reed
director of corporate communications
press@oilprice.com
tel +44 0203 962 5740
website www.oilprice.com

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Zhonghua Gas Holdings Limited Announces First Quarter Results for the Three Months Ended 31 March 2020

HONG KONG, May 13, 2020 – (ACN Newswire) – Zhonghua Gas Holdings Limited (the "Company"; Stock Code: 8246) together with its subsidiaries (collective namely the "Group") today announces that the first quarter results for the three months ended 31 March 2020 ("the Current Period"). During the period, the Group's business has been seriously impacted by the Novel Coronavirus Disease ("COVID-19"). The total revenue from continuing operations recorded was reduced to HKD75.10 million, representing a 29.5% decrease in revenue year-on-year, from HKD113.6 million. The gross profit ratio and net profit after tax dropped by 22.2% and 72.5% respectively comparing with those of the Previous Period. The New Energy Business contributed over 99.8% to the Group's total revenue. Profit attributable to the owners of the Company from continuing operations decreased by 76.1% to HKD2.9 million compared to the Previous Period. The basic and diluted earnings per share for the Current Period were both HKD0.08 cents, as compared with HKD0.36 cents for the Previous Period.

The decrease in revenue was mainly caused by the outbreak of COVID-19 which led to the imposition of various travel and work restrictions by the relevant government administrations which unavoidably caused serious impact on the Group's normal business operations such as client meetings, contract negotiation and progresses on the completion of new projects. As a result, the only source of revenue earned for the first three months of this year was from the supply of LNG that has a thinner gross profit margin than that of construction related and consultancy works.

Regarding the development on LNG business, the Group endeavored to strengthen LNG supply during the heat supply period. The 60:40 Joint Venture that the Group set up with Shanghai Jiulian Group enabled the Group to secure stable supply of LNG resources and expand its business to the high potential market in the Yangtze River Delta region. The Joint Venture will be principally engaged in sale of LNG, engineering of LNG pipeline, sale, installation, maintenance of LNG delivery equipment, technology development, consulting and transfer of heating system, technology development of new energy, etc. Meanwhile, the Group continued to maintain solid relationship with Tractebel Engineering S.A. from France and Tianjin Jinre Heat-Supply Group Co. Ltd in technological and infrastructure related business.

Looking forward, the Group will stay alert on the market and continue to keep a close watch on the development of COVID-19 while implementing timely measures to mitigate any possible business risks and minimize losses.

Zhonghua Gas Holdings Limited
Zhonghua Gas Holdings Limited is principally engaged in provision of diverse integrated new energy services including technological development, construction and consultancy services in relation to heat supply and coal-to-natural gas conversion, supply of liquefied natural gas, coupled with trading of new energy related industrial products. The Group is also engaged in the property investment business.

Media Contacts:
Angel Yeung
Jovian Communications Ltd
Tel: +852 2581 0168
Email: news@joviancomm.com

Copyright 2020 ACN Newswire. All rights reserved. http://www.acnnewswire.com