On March 8^th, Mr. Yu Renming, Director of Sinopec Production & Operation Department, led a research group visited FREP to learn FREPs production and operation management and the work in continuously improving profit. The research group held meetings with the responsible persons in charge of relative departments, and studied the measures of reformation and development. Mr. Yu Renming stressed the need to improve strategic planning, reformation and innovation, while at the same time to be strict in management of safety and environmental protection, promote integrated development and improve profitability, and make bigger contribution to the sound development of Sinopec Group. Mr. Gu Yuefeng, Chairman and President of FREP, accompanied the visit.

During the visit, Mr. Yu Renming visited FREP’s Liyuwei Oil Terminal and the CCR2 to get the first-hand information on production and operation, with key focus on oil products’ sale, continuous profit improvement and safety/ environmental protection performance.

Mr. Yu Renming, after listening to the report on production operation in 2016 and progress of general trading of exporting jet fuel, acknowledged the significant accomplishments made by FREP by controlling headcount, strictly cost control, improving technology and management, operating in a safe and stable mode, and motivating employees.

With regard to moving the Company’s production and operation forward, Mr. Yu Renming expressed his expectations that 1) FREP shall attach more importance to strategic planning. FREP needs to observe and learn from the growth trends and rules from the development in the Company itself and in the industry, take a long-term perspective and adjust the organizational structure in alignment with the industry’s growth trends, manage production and operation properly, promote the leading position in competition and development through its strategic advantages.

2) To deepen the continuous improvement of profit. Begin with details to benchmark with the outperformed enterprises to identify gaps and set targets; develop managerial, technical and reform measures and give full play to employees’ initiative to innovate and invent, take multiple approaches to tap the Company’s potentials to the full, thus to continuously improve profitability.

3) To deepen the reform of the system and mechanism. Increase the Company’s consciousness of being a market player and allow it to compete in the market, further bring business management to a higher level and stimulate the Company’s vitality and momentum to grow. 

4) To be strict in performing safety work and environmental protection. Follow HSE rules and policies and sort out processes and steps that require HSE control. Keep the alarm bells over HSE and always bear in mind that safety comes first to assure an absolute safe work environment.

5) To seek harmonious development and achieve a win-win result through cooperation. Enterprises shall look to a bigger picture, keep an integral view and and take a longer-term perspective, form a synergy and supplement each other while maintaining their own unique strengths, and to break one’s own limits by not only optimizing production and product slate internally but also achieving more economic and efficient optimization in enterprises across the area and the industry chain.

During the visit, Mr. Yu Renming and the research group also visited Gulei Project site in Zhangzhou to check the progress of the project construction.

Mr. Kang Qingshan, General Manager of Process Dept. (Offsites), Mr. Hussain Al Sughaiyer, General Manager of T&P Dept. and Mr. Lin Xu, General Manager of M&S Dept. accompanied the visit of Mr. Yu Renming (Xiao Wanyuan)