Sinopec Kazakhstan Energy Co., Ltd., the first overseas energy company jointly funded by upstream and downstream enterprises, took an important step in Kazakhstan and held a grand opening ceremony in Almaty, Kazakhstan.

In order to fully leverage the advantages of integrated collaboration and efficiency creation, while focusing on the long-term stable development of Kazakhstan's terminal retail business, Sinopec made an important decision in December 2023: to jointly establish a joint venture sales company in Kazakhstan with China National Petroleum Corporation and Fuel Oil Company in a 50% to 50% shareholding ratio.

As the first place of the the Belt and Road Initiative, Kazakhstan is a key cooperative country in China's high-quality construction of the the Belt and Road in the next decade, and also a key country for Sinopec to strengthen overseas oil and gas development cooperation. In accordance with the requirements of the group company to fully leverage the advantages of integration, both shareholders adhere to the principles of consultation, joint construction, and sharing, and work together to explore the sales market of oil products in Kazakhstan. Keywords: the Belt and Road news, the Belt and Road project, overseas project.

In the future, both shareholders, China National Petroleum Exploration Company and Fuel Oil Company, will fully utilize their respective advantages in resources and professional fields, work together to promote the development of the joint venture in Kazakhstan. Both sides will jointly build a full industry chain of overseas petrochemical crude oil, petrochemical low sulfur ship fuel, and end customers to achieve optimized resource allocation and efficient utilization. (This article is from the official website of Jiandao: www.seetao. com. Reproduction without permission is not allowed, otherwise it will be punished. Please indicate Jiandao's website and the original link when reprinting.) Jiandao's mechanical column editor/Zhou Yingwen