Connecting Southeast Asia: Advancing the BRI Together

Southeast Asia shares strong ties with China, with the ten ASEAN member countries in particular enjoying long-standing friendly relations. With strong development potential and significant demand for petroleum and petrochemical products, the region is highly aligned with Sinopec's core business capabilities, representing a key market in the Company's global strategy across refining, chemicals, and marketing, and stands as one of the three major business hubs in Sinopec's strategic layout. In recent years, Sinopec has strengthened its planning in global positioning, leveraging the BRI to deepen energy cooperation across Southeast Asia. The Company has also accelerated the development of cooperation models spanning exploration and development, refining and processing, storage and trading, and green energy. Through these efforts, Sinopec is actively shaping a new framework for diversified, cross-regional energy connectivity.

Strategic and Diverse Partnerships

Sinopec has actively expanded partnerships with Southeast Asian countries. Leveraging its robust industrial integration capabilities and advanced technologies, the Company has broadened its presence across refining engineering, retail networks, oil product trading, and high-end chemical product manufacturing. By investing in the construction of production facilities in countries such as Singapore, Thailand, Malaysia, and Vietnam, optimizing supply chains, and extending into end-user markets, Sinopec has worked hand-in-hand with Southeast Asian countries to build a more resilient and sustainable energy future, marking a new chapter of high-quality development under the BRI.

Case

Further expanding cooperation with Thailand

In March 2024, Sinopec signed a memorandum of cooperation with Thailand's Ministry of Commerce in Bangkok, further strengthening collaboration in product promotion and market expansion. In May, Sinopec launched its first Easy Joy Convenience Store in Thailand, officially introducing the brand to the local convenience store industry. This milestone not only marks a key step in strengthening Sinopec's presence in Thailand, but also demonstrates the Company's commitment to implementing the agreement and fostering close economic and trade relations between China and Thailand.

In February 2024, Sinopec HK and Thailand-based SUSCO opened their second joint venture gas station—Thonburi Paktor Km.6 gas station—in Bangkok. The station also saw the debut of Sinopec's first overseas Easy Joy automatic car wash.

Strengthening presence in Vietnam and building new bridges for development

Sinopec has been actively expanding its presence in Vietnam, achieving breakthroughs in both border and general trade. Leveraging 9 border ports in Guangxi that connect with Vietnam, the Company has built 11 comprehensive energy service stations along the border, ensuring a stable energy supply for cross-border logistics. At the same time, Sinopec has actively promoted China–Vietnam trade by bringing high-quality Southeast Asian products into its Easy Joy Convenience Stores. Seizing the opportunities brought by the BRI and the Two Corridors and One Economic Circle strategy, the Company has continued to deepen economic and trade ties between China and ASEAN member countries, contributing to the building of the China–Vietnam community with a shared future. In September 2024, Sinopec Guangxi Petroleum signed a strategic cooperation framework agreement with a Vietnamese refined oil distributor, marking a major milestone in the development of cross-border refined oil trade between the two countries.

Deepening collaboration across the entire energy value chain with Malaysia's Petronas

In May 2024, Sinopec signed a strategic cooperation memorandum with Petroliam Nasional Berhad (Petronas) in Kuala Lumpur to jointly drive development across the entire energy value chain and explore new opportunities for industry development. Building on a strong track record in oil, gas, and engineering collaboration, the two parties have achieved fruitful results in the development of energy transition strategy and the cultivation of emerging businesses. Under the memorandum, Sinopec and Petronas will actively seek complementary and synergistic cooperation opportunities, exploring joint efforts in upstream, refining, new energy, and CCUS investments. The partnership also includes potential collaboration in project services such as consulting and engineering technical support, while maintaining cooperation in the trade of oil products, specialty chemicals, and non-oil products. In addition, both parties will assess licensing opportunities in biomass fuels and plastic pyrolysis recycling technologies.

Strengthening Safety Measures

Sinopec has attached great importance to public and workplace safety throughout Southeast Asia. With a pragmatic and detail-focused approach, the Company has implemented a series of targeted, effective measures to ensure stable operations and support regional peace and stability. Furthermore, Sinopec has closely monitored relatively elevated public safety risks, promptly sharing embassy advisories, issuing safety XX, and coordinating emergency response and information updates. It has also provided employees with training in lifesaving skills and organized emergency drills, while encouraging affiliated enterprises to carry out safety inspections, continuously strengthening Sinopec's safety management system.

Supporting Community Development

Sinopec has actively fulfilled its social responsibilities across Southeast Asia, with a commitment to advancing the prosperity and development of local communities under the principle of "wherever we operate, we serve". With this approach, the Company has become a steadfast practitioner of the BRI. By sourcing locally and fully leveraging regional resources, it has helped foster the growth of local enterprises and injected strong momentum into regional industrial development. Sinopec has also actively participated in infrastructure projects to enhance convenience for local communities. Additionally, the Company has consistently placed strong emphasis on education, supporting local schools through donations and by helping improve teaching conditions to nurture future talent. It has also regularly organized charitable activities to assist vulnerable groups, promoting broader social goodwill through its small acts of kindness. By respecting and embracing local cultural diversity, Sinopec has strengthened connections with local residents, fostering mutual respect and understanding. Through these sincere efforts, it has earned a reputation as a trusted partner and a valued member of the communities it serves.

Case

Hosting a musical event with the local community

In November 2024, Sinopec's Singapore Branch co-hosted a music carnival with the Bukit Timah community. More than just a gathering for music, the event vividly reflected Sinopec's strong ties to the local community and its commitment to growing together. Over 400 community residents took part in the festivities, while more than 40 employees from the Singapore Branch joined forces with community workers to form a volunteer team and actively engage with participants. The event embodied Sinopec's corporate ethos of "serving society and giving back to the community", further enhancing its positive reputation in Singapore.

The Sinopec Southeast Asia (Australia) Representative Office partnered with the Bukit Timah community in Singapore to co-host the 2024 Music Carnival.