Energy Intelligence announced today that Fu Chengyu, chairman of Beijing-based Sinopec Group (China Petrochemical Corporation), is the first leader of an Asia-based company to earn the distinction of his peers as “Petroleum Executive of the Year.”
Sinopec’s mission under Fu’s leadership is clear. “We believe the next five years is a period for Sinopec to step up to the next level, to accelerate growth by means of alternative development channels and to further enhance quality and profitability,” the chairman noted in a letter to shareholders.
“His peers recognize that Mr. Fu is a transformational figure in China’s oil industry and emerging markets as a whole,” said Ivan Sandrea, President of Energy Intelligence. “He has extensive experience building partnerships with international oil companies and participating in Chinese oil and gas investments around the world. By effectively harnessing China’s strong technical skills, he has been a catalyst in this globalization of his country’s petroleum business.”
The Petroleum Executive of the Year selection process begins with Energy Intelligence eliciting nominations from the heads of the 100 largest oil companies determined by the annual company rankings in Petroleum Intelligence Weekly, an Energy Intelligence publication. These nominations are then voted on by a committee of previous award winners and former senior oil executives.
Previous winners of the Petroleum Executive of the Year Award include José Sergio Gabrielli de Azevedo, of Petrobras (2011), Christophe de Margerie of Total (2009) and Abdulla al-Attiyah of Qatar (2007).