Overcoming severe challenges such as low oil prices, production restrictions and the epidemic, CNPC's overseas oil and gas equity production achieved 100 million tons of stable production.

CNPC's overseas oil and gas equity production equivalent reached 100.09 million tones in 2020, which is another steady production after the overseas oil and gas equity production equivalent it exceeded the 100 million tones mark for the first time in 2019. This indicates that CNPC's overseas oil and gas business has withstood the double test of the epidemic and low oil prices, and its production and operation, commercial operation and risk prevention and control capabilities have continued to improve.

Chairman Dai Houliang attended the opening ceremony of the Third China International Import Expo and Hongqiao International Economic Forum and listened to President Xi Jinping's keynote speech; attended the China Petroleum International Cooperation Forum and delivered a keynote speech; attended a high-level video conference for shareholders of the Russian Arctic LNG2 project, a special video conference for the Abu Dhabi CEO Roundtable and a video conference for the BRICS Business Council, which further strengthened the relationship between CNPC and global peer to build a new type of energy partnership.

CNPC's international energy cooperation has advanced to a deeper level, ensuring stable production and operation in the five major oil and gas cooperation zones, ensuring the security of supply in the four major energy corridors, and continuously improving the operational capacity of the three major oil and gas operation centres. With the help of large-scale oil and gas cooperation projects, CNPC has built the "Belt and Road" region into a major benefit-contributing area for overseas oil and gas business, a resource-guaranteeing area for cross-border corridors, a regulating area for domestic and international market linkages, and an important cooperation area for advantageous service capacity.

CNPC strives to overcome the impact of unfavourable external factors and has steadily promoted a number of key production capacity construction projects in Russia, Turkmenistan and the United Arab Emirates. By establishing strategic partnerships with major international oil companies such as Total, BP, Shell and ExxonMobil and international engineering service companies such as DuPont, we have continued to develop practical cooperation in third-party markets and participated in the development and utilisation of high-quality resources in high-end markets such as Russia, the Middle East and South America.