Sinopec signs deals worth over 40 billion at CIIE

China Sinopec has signed contracts ahead of the official opening of the fifth China International Import Expo(CIIE) worth over US$40 billion (290 billion yuan) to buy crude oil, chemicals, equipment and materials.

The company works with 34 partners from 14 countries and regions, covering 26 products in 11 categories such as crude oil, chemicals, equipment and materials.

China Sinopec, Shell Plc, China Baowu Steel Group and BASF Group signed a memorandum of understanding on cooperation in carbon dioxide capture and storage.

The company also signed memorandums of understanding on hydrogen energy cooperation with ThyssenKrupp, renewed joint venture agreements with Honeywell, and signed memorandums of understanding on strategic consulting cooperation with Deloitte and Ernst & Young respectively.

According to the company, chemical products, equipment and materials signed at the CIIE will be traded online through China Sinopec's Epaike platform. 

The e-commerce platform launched an international station in 2017, establishing relations with 169 suppliers and 156 purchasers in 59 countries and regions along the Belt and Road.