In 2023, the Company processed 258 million tonnes of crude oil, up by 6.3%, and produced 156 million tonnes of refined oil products, increased by 11.3%.

We firmly grasped the new connotation of "green and intelligent" development for production, focused on the development direction of "world-class, high-tech, and integrated" for refining business, seized the favorable opportunity for market recovery, adhered to the coordinated optimization of trade, storage and transportation, and production, and promoted continuous efficiency and profitability in refining.

We closely traced the market demand changes, enhanced the benefits calculation of the entire refining and sales industry chain, flexibly adjusted processing loads, and continuously optimized product structure. Following the market, we promoted the transformation of oil to specialty, accelerated the technological research and development of special oil products and specialty products such as biphenyl and isononanoic acid.

We consolidated new energy development. The first integrated hydrogen production and sales "mini-pipeline network" project was completed and put into use. Hydrogen supply centers were established in 11 subsidiaries. New breakthroughs were made in the large-scale production of bio-jet fuel.