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The 8th International Petroleum Summit opened at New China International Exhibition Centre in Beijing on 29 March will focus on market expansion under cost cutting and improving efficiency.

Industry experts including academicians from Chinese Academy of Sciences andChinese Academy of Engineering will also discuss strategies to tide over the rainy days amid the low oil prices.

Industry officials from famous international and domestic oil and gas companies will also share their views on the new industry policies and development trends.

The summit will also have three technical workshops — drilling and well completion, digital oilfield technology, and liquefied natural gas.

More than 400 delegates have registered to participate in the summit and workshops.

Oil and gas companies are trying their best to overcome the crisis caused by the dive in oil prices.

Innovation and new technology could provide part of the effective solutions to the crisis.

The summit will also disc.uss how to face the crisis and come up with optimal solutions from different angles.

The elite speakers will include Wei Jianguo, the former deputy minister of the Ministry of Commerce, Zhai Guangming, the academician of the Chinese Academy of Engineering, and Guo Jiaofeng, Deputy Director of Resources & Environment Policy at the Institute of Development Research Centre of the State Council.

The summit is jointly sponsored by Petroleum Equipment magazine, the cippe organizing committee and Beijing Zhenwei Exhibition.

Over the last seven years, the summit has been growing along with the oil and gas industry.

The organiser always tries to the keep the audience updated on frontier technology, expert opinion and the industry’s hot issues, making the summit tailored to the interest of the participants.