On May 9th, Sinopec and CNOOC signed a comprehensive and deepening strategic cooperation agreement in Beijing. Both parties will strive to leverage their respective advantages, promote win-win cooperation, fully utilize Sinopec's technological leadership and industrial chain advantages in the field of refining and chemical sales, leverage CNOOC's low-cost and professional advantages in oil and gas exploration and development, and promote comprehensive cooperation in resources, markets, technology, and other aspects of domestic and international, upstream, midstream, downstream, and onshore businesses.