The CNPC signs a strategic cooperation agreement with COFCO

The CNPC announces on the 15th, that the company signs a strategic cooperation framework agreement with COFCO in Beijing. The chairman of CNPC Wang Yilin says that deepening the strategic cooperation with COFCO will help the two sides take their own advantages, accelerate business transformation and upgrading, and achieve mutual benefit and win-win results. This has a very strong promoting effect especially for accelerating the reform and innovation of downstream sales business, improving the ability of risk prevention, finding the maximum retail network asset value of gas stations and accelerating the formation of “person-car-life ecosystem”. It is one of the powerful measures for the CNPC to cope with the challenges of lower oil prices.

According to the strategic cooperation framework agreement, based on the principle of resource sharing, mutual benefit and win-win, both sides will carry out all-round and all-weather strategic cooperation in commodity products, marketing, membership sharing, social welfare, and new business areas etc., while exploring to expand O2O cooperation relying on the Internet platform , integrating marketing channels, enriching commodity combination, sharing customer resources, enhancing consumption experience and polymerizing development advantages to achieve synergistic and effective development. Early both sides have started a cooperative experimental pilot of grain and oil products in Beijing, Tianjin, Hebei, Shandong, Henan and some other provinces and cities, and achieved significant results.

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