At the Shandong Port 2020 Global Petroleum Trade Conference held on July 28^th , global oil producers, traders, refining and chemical companies, shipping companies, information consulting institutions, and financial institutions gathered in Qingdao to accelerate cooperation and take root. The company, Mercuria Energy Group, Petrobras, ExxonMobil and other corporate guests gave speeches overseas through video.

Petroleum is called the "blood" of industry. In 2019, my country imported 506 million tons of crude oil, of which 165 million tons were imported from Shandong ports, which is close to 1/3 of the country's total crude oil imports. At the same time, Shandong Port is also the world's largest oil product throughput port, with an oil product throughput of 220 million tons in 2019. Shandong also has more than 40 local refinery and petrochemical companies, and their production capacity accounts for more than 70% of the total production capacity of local refineries across the country.

With world-class industrial clusters and port clusters, it must also be supported by finance and trade to maximize the agglomeration effect.

At the conference, Shandong Port joined hands with representatives of 29 domestic and foreign traders, financial institutions, and refining and chemical companies to jointly launch the "Shandong Port Oil Products Full-chain Trade Financial Service Platform". The platform closely connects upstream traders, downstream Shandong refining and chemical companies and banking financial institutions, highlighting trade foundations, supply chain financial guarantees and blockchain technology applications, comprehensively improving the ability to allocate high-quality resources, and providing “end-to- We will provide comprehensive services throughout the entire process and establish a new transparent and open integrity system.

The conference signed 12 contracts and released the "Shandong Port Commercial Crude Oil Inventory Index" and the "Shandong Port Bonded Low-Sulfur Marine Fuel Oil Evaluation", focusing on building a new platform, providing new opportunities for the innovative development of the energy and petrochemical industry, and win-win cooperation. Reconstruct the new pattern of the energy and petrochemical trade industry chain in the post-epidemic era.

Among them, Shandong Port, Qingdao Municipal Government, Qingdao Customs, and Shanghai Futures Exchange signed the "Memorandum of Strategic Cooperation on Jointly Building a Multi-level Commodity Trading Market" that is particularly eye-catching. The Quartet will work together to build an international bulk commodity delivery base, build an international bulk commodity trading center, jointly expand the crude oil and fuel oil futures delivery warehouse, serve the national energy security strategy, promote the construction of the Shandong port spot bonded market, and boost the construction of an international shipping trade financial innovation center .