| 21-11-2007
According
to the news from leading international energy company Royal Dutch Shell Group
said it is shifting its new growth target to growing markets with high returns,
especially China and other leading Asian countries. Rob Routs, executive downstream
director of the Shell Group, said in Beijing that Shell's new development strategy
would focus on the growing markets in the world, such as China, India, Turkey,
Indonesia, Malaysia, Russia, Ukraine and Thailand, which may become Shell's new
growth points. Shell,
which suffered a profit decline in the third quarter of this year due to the sluggish
global oil refining market, is adjusting its development strategy by peeling off
some low-profit business including closing some refineries, and increasing investment
and expanding business in some new growing markets, said Routs. He stressed that
China has become one of its most important markets, and he added that the openness
of the Chinese market and China's strategy to pursue sustainable development has
provided great opportunities for Shell to expand downstream business in the country,
ranging from fuels, lubricants, bitumen to chemicals businesses. Shell's
largest project in China, the 4.3-billion-dollar China National Offshore Oil Corporation-Shell
Petrochemical Corporation in Daya Bay in south China's Guangdong Province, which
began operation in early 2006, operates well, he said. With an annual output capacity
of 2.3 million tons of petrochemical products, the project's total production
has reached 1.7 million tons so far in 2007. "We
plan to further expand our retain business in China in the future," said
Routs, who also noted that the form of investment will depend on the "opening
of local market and its profit ratio", under the condition that a stable
oil supply is guaranteed.
Editor:Frederick
Wei from Chinabuses.com
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