China Petrochemical Corporation released its 2007 corporate social responsibility report in Beijing at the end of August 2008.

The report elaborates the efforts and achievements Sinopec has made in CSR, including "supply responsibility", "security and environmental responsibility", "staff development responsibility" and "social responsibility".

Sinopec is the China's largest crude oil processing and refined oil sales enterprise, and the country's largest crude oil importer. To guarantee the refined oil supply of the nation, Sinopec has bourn a loss of CNY143.5 billion in oil refining over the past three years.

According to the report, Sinopec will continue the construction of two national oil bases in Zhenhai, Zhejiang and Huangdao, Shandong, which were part of the national oil reserve project phase I.

This is the first CSR report that Sinopec has ever released.

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