Review of International Energy News

◆ Forecast of global oil demand by IEA was decreased to an average amount of 90.6 million barrels per day in 2013.

◆ Oil consumption of the emerging economies surpassed that of the developed countries since April.

◆ Egypt and Saudi Arabia recently announced that an interconnection between the electrical grids of the two countries would be beneficial for both nations.

◆ Global carbon emission reached 31.6 billion tons in 2012, the highest of history.

Review of Domestic Energy News

◆ China hopes to increase the ratio between natural gas consumption and total energy consumption from 5.7% to 10% by 2020, but are highly concerned with the difficulty in exploration.

◆ CNOOC and BG Group sign agreements for new LNG supply and purchase of QCLNG stake.

◆ CNPC and Ecuadorian authorities signed a framework agreement on integrated upstream-downstream cooperation, from which CNPC will take a share in the construction of the Pacific Refinery project, and participate in the exploration and development of Ecuador’s upstream resources.