The Zhoushan Declaration on Green Marine Fuel Development 2025 is released in Zhoushan on Oct 22. [Photo/www.wifizs.cn]

The 8th Interregional Petroleum and Natural Gas Enterprises Conference, also known as IPEC 2025, is being held from Oct 21 to 23 in Zhoushan, East China's Zhejiang province. The event has attracted 366 enterprises, including 112 international and 254 domestic companies.

At the plenary session on Oct 22, the Industry Chain Alliance of Bulk Commodity Distribution Hub of China (Zhejiang) Pilot Free Trade Zone was launched. Other highlights included the establishment of the China Green Ship Repair International Certification Innovation Alliance and the School of International Commodities at Zhejiang Ocean University, along with the release of the Zhoushan Declaration on Green Marine Fuel Development 2025.

Industry leaders from Saudi Aramco, Vitol, BP, Honeywell, and S&P Global shared insights into global oil and gas market trends and discussed cooperation opportunities in China. The conference also featured the signing of 21 major projects worth about 64.36 billion yuan ($9.03 billion), focusing on petrochemical materials, energy storage, logistics, digital marine services, and finance. 

As the flagship event of China (Zhejiang) Pilot Free Trade Zone, the conference has evolved into a major global platform for cooperation in the oil and gas sector. Over seven sessions, it has attracted over 7,100 participants and 1,900 leading enterprises from 50 countries and regions, resulting in 103 major projects with a total investment exceeding 392 billion yuan.

Zhoushan, a key area within the China (Zhejiang) Pilot Free Trade Zone, continues to strengthen its role as a national hub for bulk commodity resource allocation. From January to September, Zhoushan accounted for 11.8 percent of China's crude oil unloading, 7 percent of iron ore imports, and 18.9 percent of grain transshipment.