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SINOPEC Wins "2012 Global Competitiveness Brands - Top 10 from China" for the Third Year in a Row



SINOPEC Wins "2012 Global Competitiveness Brands - Top 10 from China" for the
                             Third Year in a Row

PR Newswire

BEIJING, Dec. 10, 2012

BEIJING, Dec. 10, 2012 /PRNewswire/ -- Sinopec received the award "2012 Global
Competitiveness Brands - China Top 10" in Stanford on December 7, 2012. This
is the third consecutive year that Sinopec won this award. On this competition
Sinopec also won the single prize of "Most Socially Responsible Brand". (Photo
taken on-site: http://finance.sina.com.cn/hy/20121210/141313953642.shtml )

The 2012 Global Competitiveness and Sustaining Company Growth Event, held for
the third year, and the "2012 Global Competitiveness Brands - Top 10 from
China" are organized by International Data Group (IDG). The event aimed to
build a regular dialogue mechanism between the business and academic circles
of China and the U.S. Following the principles of elevating enterprises'
international competitiveness and stimulating regional economic development
and social sustainability, the event served as a platform of opinion-sharing
and mutual progressing. Yu Mingkang, Head of Corporate Culture Dept. at
Sinopec, delivered a speech during the event.

As a participant of the United Nations Global Compact LEAD program, Sinopec
sticks to the new industrialization path of high technology, low resource
intensity and less pollution. By fast-tracking a growth pattern
transformation, Sinopec constantly elevates its brand core competency and
sustainability, thus successfully supporting the country's economic
construction, driving the development of related industries, and providing
energy supply and quality service to meet people's necessity needs. Low-carbon
development is a major measure for Sinopec to enhance core competitiveness and
implement social responsibilities. In recent years, Sinopec made great efforts
to develop their low-carbon business and set the goal of more than doubling
their natural gas output by 2020. Powered by technology innovation, Sinopec
proactively developed unconventional oil and gas resources that are relatively
abundant in China to realize industrial production of unconventional oil and
gas resources as soon as possible, and elevated the supply capability of
low-carbon energies. In addition, Sinopec endeavored to make technological
breakthroughs in the areas of cellulose ethanol, bio-diesel, and bio aviation
kerosene to enhance the supply of biomass energy, speed up the construction of
LNG storage and transportation facilities to enhance the supply of LNG, and
launch international and domestic cooperation to drive the industrial and
residential application of geothermal energy. A complete low-carbon energy
business value chain including technology R&D, industrial production and
product sales was thus built and will evolve into scale manufacturing by 2020.

Today, Sinopec is proactively developing the technology of clean utilization
of coal by taking the gasification of coal as the key technology roadmap of
coal-based clean energy. Sinopec is also working on developing the coal
chemical industry in appropriate regions to use coal as an alternative source
for chemical raw material and use petroleum mainly for the production of
transportation fuel. For every 1 million tons of alkene produced by coal, 2
million tons of chemical light oil can be replaced, which is equivalent to the
output of a refinery with 10 million tons in capacity. So far, Sinopec has
successfully conducted the experiment of a CO2 drive on small-size oil fields,
on which the CO2 captured is utilized to improve oil recovery. These endeavors
have turned out to be both environmentally and economically beneficial and
have entered the stage of industrialized application at the capacity of 1
million tons. Sinopec will continue to beef up mid and long-term low-carbon
strategic technology reserves, accelerate the R&D of CO2 capturing, storage,
and integrated application of high purity CO2 [ ]in chemical industries. As a
result, the company has achieved the low-carbon development of coal-based
chemical industries.

With nearly five years' of accumulated experience, Sinopec has made
significant progress in R&D and application of coal-based gas production,
coal-based chemicals, and coal-based oil production. The methanol-to-olefin
technology has been successfully commercialized and has reached world-class
level. The coal-to-ethylene pilot equipment will also be launched into
production in the near future. Looking ahead, Sinopec will realize the
integrated development of coal-based and petroleum-based chemical industries.
By 2015, Sinopec's capacity of coal-to-olefin production will account for more
than 10 percent of Sinopec's total capacity of alkene production and
coal-to-gas production will reach 30 percent of Sinopec's natural gas supply
capacity.   

SOURCE IDG China

Website: http://finance.sina.com.cn/hy/20121210/141313953642.shtml
Contact: Florence Liu, +86-10-6526-2650 Ext. 115, florence_liu@idg.com.cn
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