The China Oil Cap Project and China EV100, supported by Energy Foundation China and NRDC, hosted the first International Workshop on January 23 in Beijing. At the workshop, the draft executive summary of the first China Oil Cap Plan and Policy Research report was released, which predicts that China can peak its oil consumption at around 720 million tons in 2025 under the Oil Cap Scenario. The report also estimated the true cost of oil in China for the first time, providing the basis for fiscal and taxation policy decisions and internalizing the external costs of oil development and utilization. Keynote speakers included Chen Qingtai, Former Deputy Director of the State Council Development Research Center, Fu Chengyu, former Chairman of Sinopec, the largest oil refiner in Asia, and Zhang Yuqing, former Deputy Director of the National Energy Administration. More than 300 representatives from central and local governments, domestic and foreign research institutions, enterprises and environmental organizations attended the workshop. The report findings and workshop were covered extensively by media, including China Energy News, China Environmental News, China Electric Power News, China Reform Daily, People’s Daily net and Jiemian etc.