Russia at China International Petroleum and Petrochemical Equipment Exhibition (cippe 2018) - Politics Forum.org | PoFo

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Russia at China International Petroleum and Petrochemical Equipment Exhibition (cippe 2018)

The 18th China International Petroleum & Petrochemical Technology and Equipment Exhibition (cippe 2018) will open on March 27-29, 2018 at New China International Exhibition Centre in Beijing, with an exhibition area reaching 90,000m2 and around 1,800 exhibitors coming from 65 countries and regions, including 46 Fortune Global 500 companies and 18 international delegations.
According to the vote of the Thomson Reuters expert group, held in late 2017 at the annual Oil and Gas Forum in Moscow, one of the key trends affecting the oil market was the sharp increase in the consumption of resources by the People's Republic of China and the consolidation of Russia in this market.
Like any other oil and gas producing country, Russia has to invest heavily in the sector to stand still, meaning extract the same volume and quantities of oil and gas as today. The easiest and most accessible oil and gas fields in Russia have reasonably been developed, hence the future wave of development will increasingly be offshore, Arctic, subsea, high temperature and high pressure reservoirs. In essence pushing boundaries technology wise. Russian oil and gas industry already has great experience from onshore and Arctic development and will probably build further on this strength, but lack knowledge and experience in other areas such as subsea and offshore development and production.
The Chinese economy is in rapid development period of industrialization and urbanization is rapidly advancing, high economic development but also improve the oil and other energy resources consumption. And Russia with China, in the North is bordered by the world power, rich in energy resources, its oil production accounted for the world second total output, the oil reserves of the world's total reserves of 13 per cent. At the same time, Russia's natural gas, coal and other oil and gas mineral resources is quite sufficient; Russia has become the world's major energy exporter, but also become China's energy imports preference.
Over the years, China and Russia in the oil and gas and other energy fields expand widely cooperation, and has made a series into. It, reached a good cooperation consensus and basis. Chinese-Russian energy cooperation has a unique advantage. But Russian and Chinese energy infrastructure is still relatively backward, the issue of energy security has not been effectively resolved, geo-political influence of the two countries has interests of the cooperation, the imperfections of the energy of the financial system and other issues need to be resolved.
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