Sinopec, formally known as China Petroleum & Chemical Corporation, is a vertically integrated energy and chemical powerhouse headquartered in Beijing. As a majority state-owned enterprise, it serves as a critical pillar of China’s national energy security while simultaneously operating as the world’s largest oil refining group by capacity.

BASF SE (Badische Anilin- und Sodafabrik) is a German multinational chemical company and the largest chemical producer globally by revenue. Founded in 1865, the company operates across six integrated business segments, serving customers in nearly all sectors worldwide. Its core strategy centers on its unique Verbund (integrated production) system, which aims for cost efficiencies and environmental advantages through interconnected production sites.