Ulaanbaatar
Mongolia and CNPC Discuss Long-Term Cooperation in Petroleum Supply
Politics
Ulaanbaatar, February 24, 2025 /MONTSAME/. Minister of Industry and Mineral Resources of Mongolia Tuvaan Tsend met with Director and President of China National Petroleum Corporation (CNPC) Hou Qijun and Vice President of CNPC Zhang Daowei in Beijing, the People’s Republic of China, on February 21, 2025. At the meeting, CNPC’s Director Hou Qijun highlighted that the company, with its large oil refining capacity and annual production of more than 100 million tons of petroleum products, is fully capable of supplying products to the Mongolian market. The two sides expressed the need to establish a long-term cooperation agreement, ensure transport and logistics infrastructure, and create conditions for stable collaboration. The Daqing Oilfield, a subsidiary of CNPC with a history spanning over 60 years, has produced 2.5 billion tons of crude oil since its development, which accounts for 30 percent of China’s crude oil output.
