China Petroleum & Chemical Corporation, known as Sinopec, signed purchasing contracts totaling $40.9 billion with 34 partners from 17 countries and regions during the 8th China International Import Expo in Shanghai. The agreements cover 24 products across 10 categories, including crude oil, chemicals, equipment, materials, and consumer goods. Since the expo’s inception in 2018, Sinopec has accumulated over $325 billion in orders through eight sessions, underscoring its significant role in global energy markets.
Focus on Technology and International Cooperation
A themed forum at the event, titled ‘Technology Driven, AI Empowered: The Future of Energy,’ addressed digital intelligence, technological innovation, new materials research and development, and supply chain resilience. Sinopec executives, including Vice Chairman and President Zhao Dong, emphasized the company’s commitment to high-quality development and digital intelligence empowerment to drive industry advancement. Zhao outlined goals aligned with China’s 15th Five-Year Plan, focusing on strengthening scientific and technological innovation and overcoming developmental bottlenecks in the energy sector.
Zhao Dong highlighted that Sinopec’s progress relies on long-term partnerships and global support, with plans to enhance digital integration and promote green, low-carbon cooperation. The company aims to balance the clean use of traditional energy with the expansion of new energy sources, supporting sustainable development in the energy and chemical industry. Senior executives from international firms such as Petronas Chemicals Group, Siemens, Baker Hughes, and Rystad Energy delivered keynote speeches, reflecting broad international engagement in China’s energy initiatives.
