National oil companies have special responsibilities to tackle energy challenges: IEF chief

Source: Xinhua| 2019-03-15 09:50:30|Editor: Shi Yinglun
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HOUSTON, March 14 (Xinhua) -- National oil companies should shoulder special responsibilities to tackle challenges in the era of energy transformation, International Energy Forum (IEF) Secretary General Sun Xiansheng has said.

The global energy transformation is raising higher requirement of development for national oil companies across the world, Sun said on Tuesday in an interview with Xinhua on the sidelines of the ongoing CERAWeek by IHS Markit, the world's premier energy event.

"National oil companies have to be the first to adjust themselves to adapt to the energy transformation," he said, adding that "they should establish an adequate energy structure that fits the country's economic development and environmental requirement."

Compared with private enterprises, it is state-owned oil companies' responsibility to tackle challenges such as energy poverty while providing enough supply to meet the country's energy demand, he said.

There are currently 1.2 billion people in the world living without power supply, and around 2 billion people have no access to modern energy, according to Sun.

The 72-member IEF is a neutral facilitator of informal, open, informed and continuing global energy dialogue.

Accounting for around 90 percent of global supply and demand for oil and gas, it aims to foster greater mutual understanding and awareness of common energy interests among its member countries.

The 38th CERAWeek, which kicked off on Monday, is an annual energy meeting held by the London-based information company IHS Markit with the attendance of prominent speakers from energy, technology and financial sectors. This year's meeting was attended by more than 4,500 guests from over 70 countries and regions.

There is a special dialogue on China as well as several discussions designed to focus on Asian and Chinese energy market since China has become one of the largest energy consumption economies in the world.