China Petroleum & Chemical Corporation ("Sinopec", HKG: 0386) has won the "Best Scientific and Technological Innovation Practice" award at the 2^nd Sino-European Corporate ESG Best Practice Conference (the "Conference") on June 26 in Stuttgart. Sinopec’s case submission of Breakthrough in Depth, Climb to New Heights — Empowering the Energy and Chemical Industry with Technological Innovation stood out among numerous entries.

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Wang Tao, Sinopec representative, delivered a speech at the conference.

The Conference reviews and awards the best ESG application cases in six areas of environmental protection, social responsibility, corporate management, scientific and technological innovation, education, and training to further enhance mutual understanding between Chinese and European businesses, facilitate bilateral economic and trade exchanges, and showcase China’s open, inclusive and confident mindset to European society.

“Sinopec has harnessed technological innovation as a powerful engine in its journey toward carbon peaking and carbon neutrality,” the jury panel said. “By focusing on strategic areas such as oil and gas exploration and development as well as green and low-carbon transformation, the company is vigorously advancing high-end, intelligent, and green development.”

Leveraging its integrated, full-industry-chain innovation capabilities, Sinopec is scaling up clean energy solutions and decarbonization in production to continuously empower social development.

Driven by innovation, Sinopec’s Project Deep Earth, hailed as the "Mount Everest underground," aims to unlock ultra-deep oil and gas reserves and light up the green future of the earth. In shale gas exploration and development, Sinopec’s Fuling Shale Gas Field is the first in China with commercial development, boasting reserves of hundreds of billions of cubic meters.

In promoting the green and low-carbon technology, Sinopec built China's first megaton CCUS project and the world’s first 100-kilometer CO₂ pipeline. Sinopec collaborates with Shell, China Baowu and BASF on a joint study for the first 10-million-tonne open-source CCUS project, providing a new decarbonization pathway that combines emission reduction and carbon sequestration.

Innovation is powering Sinopec to continuously break new ground and achieve intelligent transformation. In 2024, the world's first intelligent ethylene factory based on digital twin technology was put into operation, and Sinopec’s AI digital employee is now on duty at over 40 integrated energy stations to provide smart services to customers.

At the Conference, Sinopec also released the "World Energy Outlook 2060" report, its first energy and chemical industry development report released in Europe.

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Eason Zhou
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