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 Address from Chairman
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Dear friends,

In 2014, with a focus on improving the quality of development and delivering greater economic benefits, Sinopec executed six key strategies related to resources, markets, integration, internationalization, differentiation, and green, low-carbon development. In so doing, we deepened reform, accelerated our transformation and adhered to strict management practices, improving the to see that in matters of reform, by restructuring and introducing private capital, our oil product marketing business implemented a mixed-ownership operating model, further improving our vitality and competitiveness. In regard to transforming our business, we made great breakthroughs in the exploration and development of shale gas, commercializing the project ahead of schedule; we successfully upgraded the quality of our oil products, allowing us to sharply increase output of high-grade oil products for which demand is growing rapidly; and we advanced our plans to invest approximately USD 5 billion for implementation of our Clean Water, Blue Sky project and our Energy Conservation Campaign. In the area of management, all business segments achieved excellent results in their efforts to reduce costs and expenses, and all maintained safe, stable and clean production operations. And in the area of cultural development, we chose “fueling a better life” as our enterprise mission, “building a people-oriented,first-class global energy and chemical company” as our vision, and “people, responsibility, integrity, precision, innovation and shared values” as our core values. As a LEAD member of the United Nations Global Compact and a signatory of the Caring for Climate initiative, we continued to participate in various activities of the United Nations Global Compact Network China, helping to lead Chinese enterprises along the path of sustainable growth.

Looking ahead, in the face of complex challenges presented by global climate change,  environmental vulnerabilities, fluctuating energy markets and other matters, Sinopec will continue to deepen innovation-driven reforms both in response to the market and guided by our commitment to green, low-carbon development. In 2015, we will further improve our marketing mechanisms for oil products to accelerate our transition from a traditional supplier of oil products to a comprehensive provider of innovative services; we will continue to develop shale gas, and advance the adjustment in the structure of the energy market; and we will promote further upgrades in the quality of our oil products. In the future, we will look to implement more initiatives in common with the wider community, improve our communications with the public, and redouble our focus on technology and services, generating new breakthroughs in our drive to build a first-class global energy and chemical company.

We look forward to joining hands with you in making our China Dream a reality, and in building a better world and a better future!


 Wang Yupu


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