1. Sinochem Oil is a wholly-owned subsidiary of China Sinochem Group Corporation. Founded in 1988, it is mainly engaged in the import and export business of crude oil and refined oil. As one of the largest state-owned oil trading companies in China, its business scope focuses on domestic and international energy resources.
2. China Petrochemical Co., Ltd., referred to as Sinopec for short, is a state-owned enterprise with legal personality invested and established by an investment institution authorized by the state. 1July 1998, sinopec group was reorganized and became one of the comprehensive energy enterprises. The main business includes actual industrial investment, investment management and energy-related aspects related to exploration, mining, storage and transportation, sales and comprehensive utilization.