Sinopec Group Qingdao Branch was founded in 1950 with AAA bank credit rating. Its parent company, Sinopec Group, ranks among the Fortune Global 500. The branch is the sole wholly-owned subsidiary of the Group in Northeast China and one of the outstanding enterprises in China’s foreign trade sector.

Shengli Oilfield is an important petroleum industrial base in China. It is the general name covering three entities: Sinopec Shengli Petroleum Administrative Bureau Co., Ltd., Shengli Oilfield Branch of China Petroleum & Chemical Corporation, and Sinopec Shengli Petroleum Engineering Co., Ltd. under Sinopec Oilfield Service Corporation. Its core businesses include oil and gas exploration & development, petroleum engineering technical services, surface engineering construction, deep processing of oil and gas, and mining community services.

Daqing Oilfield is a large state-owned industrial enterprise directly under the former Ministry of Petroleum Industry, located in Daqing City, Heilongjiang Province. In September 1959, the first oilfield in the Songliao Basin was discovered through exploration and officially named Daqing Oilfield. In 1960, the state launched the Daqing Oil Campaign to carry out trial development. By the end of 1963, trial development was completed and the oilfield entered full-scale development and construction. Three major core oilfields, namely Saertu, Xingshugang and Lamadian, were developed successively, while a number of new developable oilfields were identified through exploration. The development and construction of Daqing Oilfield eliminated the label of China as an oil-poor country.