Chinese oil executive honored

Fu Chengyu, chairman of China’s state-owned Sinopec Corp., has been named “2012 Petroleum Executive of the Year” by his peers, industry insight provider Energy Intelligence announced Tuesday.

The honor is the international energy industry’s most prestigious award given in recognition of outstanding leadership. 

 “His peers recognize that Mr. Fu is a transformational figure in China’s oil industry and emerging markets as a whole,” Energy Intelligence President Ivan Sandrea said.

“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.”

Sinopec’s international deals include a $2.5 billion joint venture with Devon Energy Corp. announced in January to develop acreage in five emerging U.S. resource plays.

Fu will be honored Nov. 12 at a the black-tie banquet that is the marquee event of the annual Oil & Money Conference in London.

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