SINOPEC Issued its Global Lubricant Market Strategies for the First Time

BEIJING, Oct. 29 /PRNewswire-Asia/ — On Oct. 28, 2009, SINOPEC Corp. held
its first global lubricant distributors’ conference in Beijing, attended by
over 100 partners from more than 30 countries. The conference showed SINOPEC
Lubricant’s opportunity, strength and aspiration to enter into the world
market, and indicated SINOPEC Lubricant’s global market strategies for this
new stage.

(Photo: http://www.newscom.com/cgi-bin/prnh/20091029/CNTH035 )

Mr. Zhang Jianhua, Senior Vice President of SINOPEC Corp. said, “SINOPEC
will gradually shift from trading and export to an integrated business model
of investment, production, marketing and management, to become a global
business operation.” This indicated a significant change in SINOPEC’s
operation model in its overseas markets from the lubricant business.

At the conference, SINOPEC Lubricant explained its market architecture in
the Americas, Europe, and Southeast Asia to its global distributors. The
strategic project, called “Golden Triangle,” will be launched in three phases:
first is to open up the market in the Asia-Pacific region, then to establish
overseas plants, and finally to set up global marketing and service networks.
SINOPEC’s “Golden Triangle” strategy draws much attention from the global
energy giants that predominate the world market.

The world-class SINOPEC has become China’s top lubricant brand, thanks to
its brand image of “high technology, high quality,” and is China’s largest
automobile OEM supplier and lubrication service supplier for industrial and
mining establishments. As China becoming the world’s manufacturing center, the
export volumes of “made-in-China” machines and equipment increase, which
creates new opportunities for SINOPEC Lubricant to enter into global markets.
In the past 6 years since 2004, SINOPEC has developed its lubricant business
in over 40 countries and areas, with an overseas sales volume increasing by
45% every year.

Mr. Song Yunchang, Chief Executive, SINOPEC Lubricant Company under
SINOPEC Corp. said that as the globalization of the world’s economy develops,
the degree of concentration of lubricant brands will be even higher in world
markets in future. Therefore, SINOPEC will strengthen its international
production and logistics systems for lubricant products to find more
developing space and new markets. Now, SINOPEC’s exported products have 12
categories with over 100 trademarks including engine oils, gear oils,
hydraulic oils, grease lubricants, turbine oils, insulating oils, and
compressor oils, serving in various industries such as automobile, machinery,
power, metallurgy, mining, construction, and shipping.

SINOPEC is trying the best to become a global energy and chemical company
with strong international competitiveness, and SINOPEC Lubricant, the world’s
fourth largest lubricant brand, will be an important component of these
international market strategies. With great support from SINOPEC’s overseas
offices, SINOPEC Lubricant will continue to improve its overseas supply
networks, and expand from Asia to Europe and the Americas, finally forming a
global market distribution network for production, logistics and marketing.

    For more information, please contact:

    Yanli Zhao
    Tel:   +86-10-6583-6038 x236
    Cell:  +136-0122-5828
    Email: zhaoyanli@mrgchina.com

SOURCE SINOPEC Corp.