China Petroleum Group Corp has worked out a strategy for development that calls for giving full play to its advantages in totality, sustaining regrouping and adhering to development at low costs.

Meanwhile, the corp will making a great effort to open up a group of proprietary technologies with autonomous intellectual property, paying attention to tracing foreign state-of-the-art technology, making innovative endeavor on the basis of importing, assimilating and absorbing foreign technologies and tapping potential for development. .

The corp's sales totaled 330 billion in 1999, an increase of 22% over a year ago and its profits hit 17.5 billion yuan, 12.76 billion yuan more than in 1998.

In the current year, the oil group will ensure stable oil-gas production,, speed up natural gas probing and start a project to ship gas from the western to the eastern part of China. In the year, 3 oil-gas pipelines will be laid - the Lanzhou-Chengdu-Chongqing processed oil pipeline, the Zhongxian-Wuhan and Sebei-Xining-Lanzhou gas pipelines. Refined oil will be upgraded to cater to the requirements for environmental protection and export. Development of high added-value products like high-end abrasives, quality paraffin wax, catalyst and additives in a bid to beef up competitiveness.