Exploration & Production: In 2008, E&P joint venture and cooperation projects in China developed smoothly. As for the project of Chengdaoxi Block in Bohai Bay with EDC, a prepared supplementary development scheme of Chengdaoxi Block A is currently under execution after approved by the Chinese government. EOR project for Shengli Zhuangxi Ancient Buried Hill Oilfield with Genting Group of Malaysia has generated good results. The Company extended preliminary research on Coal-bed Methane and exchanged views with many multi-national companies.

Refining & Chemical: Fujian integrated refining, chemical and marketing project, co-operating with ExxonMobil and Saudi Aramco, basically achieves mechanical completion. Fujian Linde BOC air separation joint venture and Tianjin air separation joint venture with Air Liquide Group have started operation. A strategic partnership agreement has been signed with SABIC on the Tianjin Ethylene project. A JV framework agreement on Wuhan ethylene project is signed with SK. In addition, preliminary work is progressing well on other joint ventures and cooperation projects.

Refined Oil Products Retail: Sinopec-Shell (Jiangsu) Petroleum Marketing Co., Ltd., Sinopec-BP (Zhejiang) Petroleum Co., Ltd. and Sinopec SenMei (Fujian) Petroleum Co. Ltd. are running smoothly.