Chinese Academy of Sciences, China Petroleum In All-Round Partnership

According the agreement, the two sides will give priority to collaborations in the fields of oil and gas exploration, oil refining, petrochemicals and new energy sources and materials. The partnership will take various forms, ranging from co-development, technology transfer, to technical consultation and services.

It is also agreed that the two parities will join forces to set up labs and engineering centers so as to accelerate the research and development of new products and technologies.

Source: By Government of China