Since the beginning of this year,Qinghai Oilfield hasthoroughly implemented the decisions and deployments of the group company's leading Party committee,made plans ahead of time and taken action proactively.It has formulated and issued in advance the implementation scheme for increasing revenue,reducing expenditure,reducing cost and improving efficiency,and determined the goal of a USD 2/barrel year-on-year reduction in the full cost of crude oil.Since March,facing the huge impact of the plummeting international oil price on production and operation,Qinghai Oilfield has reformulated its implementation scheme for the special action to improve quality and efficiency with higher targets,stricter requirements,greater strength and more concrete measures,and defined the overall annual goal.