Yanchang Petroleum Group announced at its 2008 work conference that it would continue to expand its industrial chain after reaching a production capacity of 10 million tons, aiming to build an international modern energy and chemical company. The group emphasized the importance of leveraging its existing strengths in oil, gas, coal, and salt resources, which are abundant in Shaanxi Province.
According to Shen Hao, the chairman of Yanchang Petroleum Group, the company plans to accelerate the development of related energy and chemical industries by capitalizing on these natural resources. Following the concept of "macro-regional planning, large-scale industrial construction, strong group leadership, and major project support," the company will focus on expanding its oil, gas, coal, and salt chemical industries, as well as related equipment manufacturing. This strategy aims to create a new integrated development model that combines oil, gas, coal, and salt resources effectively.
In 2007, Yanchang Petroleum achieved significant milestones, with crude oil production, refining, and sales each exceeding 10 million tons, while total sales revenue surpassed 47 billion yuan. Zhang Jiyao, the general manager of the group, stated that the strategic goal of transforming Yanchang into an international modern energy and chemical company involves accelerating industrial restructuring, building an integrated oil, gas, coal, and salt development system, and making full use of both domestic and international markets and resources. By expanding its development scope and changing its economic growth model, the company aims to grow stronger and more competitive on a global scale.
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