ExxonMobil originated from Standard Oil, founded by oil tycoon John D. Rockefeller, and is now the largest oil company in the United States by market capitalization.

In 1870, Rockefeller and others established Standard Oil in Ohio; in 1882, Rockefeller created the world's first trust—Standard Oil Trust; by 1890, Standard Oil had become the largest crude oil producer in the United States, monopolizing 95% of refining capacity, 90% of oil transportation, and 25% of crude oil production. This monopoly over the American oil industry lasted until 1911.

In 1911, the U.S. Supreme Court ruled Standard Oil a monopoly and ordered its breakup. As a result, Standard Oil was divided into 34 regional oil companies, the two largest being Standard Oil of New Jersey and Standard Oil of New York. These two core companies eventually merged to become ExxonMobil.

Two separate stories:

First, Exxon in New Jersey. Standard Oil of New Jersey, inheriting core assets, continued to develop after its separation. In 1919, it acquired 50% of Humble Oil; in 1920, it went public on the New York Stock Exchange, and subsequently acquired several South American oil companies. In 1926, Standard Oil of New Jersey began using Esso as its brand.

In 1972, Standard Oil of New Jersey changed its name to Exxon Corporation and standardized the Exxon brand nationwide. Its subsidiary, Humble Oil, was renamed Exxon USA. In 1975, Exxon topped Fortune magazine's list of the top 500 companies in the United States, holding the top spot almost continuously until 1985. By 1982, Exxon had grown from a domestic refinery and distributor into a large multinational corporation involved in oil and gas exploration and production, refining and sales, and the petrochemical industry.

Second, Mobil in New York. Standard Oil of New York, also known as "Socony," enjoyed great consumer popularity due to the rapid development of the American automobile industry. In 1920, Standard Oil of New York began using "Mobil Oil" as its product brand.

In 1931, Standard Oil of New York merged with Vacuum Oil Company, adopting the latter's red Pegasus logo. In 1955, Socony-Vacuum changed its name to Socony Mobil Oil Company. In 1958, Pan American Airways' Boeing 707 made its first transatlantic flight from New York to London using Mobil aviation fuel.

In 1963, the company's brand was simplified to "Mobil," and a new logo was introduced.

1966 marked the 100th anniversary of Vacuum Oil Company, and Socony Mobil Oil Company was shortened to Mobil Oil Corporation.

Reunion after separation

The two companies, which separated in 1911, had always cooperated. In the 1930s, Standard Oil of New Jersey and Socony-Vacuum merged their Asia-Pacific operations into a joint venture, Standard Vacuum Oil Company (Stanvac), with each holding a 50% stake (dissolved in 1962). In 1948, Standard Oil of New Jersey and Socony-Vacuum collaborated to acquire a stake in Saudi Aramco.

On December 1, 1998, Exxon and Mobil, after more than 80 years of independent development, announced their merger, creating the world's largest oil company at the time, with a combined value of $73.7 billion. The merger was officially approved on November 30, 1999, forming ExxonMobil.

After the merger, "Mobil" continued as the primary brand name for ExxonMobil's fuels, lubricants, and specialty products. The two companies' chemical businesses merged to form ExxonMobil Chemical Company.

In 2001, ExxonMobil once again became the largest company in the United States. Since then, the company and Walmart have competed annually for the title of the largest company in the United States.

Currently, ExxonMobil sells fuels and lubricants worldwide under the three brands "Esso," "Mobil," and "Exxon." Its petrochemical business uses the "ExxonMobil" brand.

With the intensification of global warming, energy transition has become a necessity. The development of new energy technologies and increased government efforts to control pollution have significantly changed the demand for oil. Although ExxonMobil has not been as quick to act on energy transition as its European counterparts, it has begun to venture into related fields and has achieved some results.

Chevron: A journey through industry's storms

The origins of Chevron

Chevron's origins can be traced back to the California Star Oil Company, founded in the 19th century. Due to a lack of funds, it was quickly acquired by the Pacific Coast Oil Company. From 1879 to 1895, the Pacific Coast Oil Company built refineries, laid pipelines, and built California's first steel oil tanker.

Around the same time, John D. Rockefeller's Standard Oil established an office in San Francisco and gradually dominated the West Coast market. In 1900, the Pacific Coast Oil Company was merged into Standard Oil of New Jersey.

Before 1909, Standard Oil of California primarily engaged in oil transportation and refining. Starting in 1909, it directly participated in oil exploration and extraction. In 1910, the company's drilling team successfully drilled a high-yield well in Kern County, California, producing 1,500 barrels of oil per day. In 1911, the U.S. Supreme Court ruled that Standard Oil was involved in a monopoly, ordering its breakup, and Standard Oil of California was forced to operate independently. The only shortcoming of the independent Standard Oil of California was finding reserves, but it had already made preparations, finding 7 oil discoveries in just a year and a half.

By 1919, Standard Oil of California's production capacity reached one-quarter of California's total capacity. It continued to expand its product retail network and improve its shipping capacity. By 1926, it owned 40 tankers and officially changed its name to Standard Oil Company of California, abbreviated as Socal.

To seek more reserves, Socal entered the Middle East. In 1928, the Gulf Oil Company transferred the Bahrain Island license to Socal. In 1932, Socal reached an agreement with the Saudi Arabian government to obtain exploration rights for 60 years. In 1936, Socal and Texaco established a joint venture, Caltex. The cooperation with Texaco enabled Socal to obtain markets in the Middle East, exploration and production rights, marketing networks in Africa and Asia, and exploration rights in Sumatra, Java, and Dutch New Guinea. However, Socal's exploration in Saudi Arabia was not smooth, until the Dammam No. 7 well in 1938 encountered commercial oil flow. After that, Socal's business in the Middle East went smoothly, and Saudi Arabia also obtained the key to opening the treasure trove of wealth.

Focusing on global oil and gas exploration

After World War II, Socal became the third largest oil company in the United States and the largest in California. In addition to various gains overseas, it successively found the Kelly-Snyder oil field in Texas, the Main Pass, Bay Marchand, and Romere Pass oil fields in the Gulf of Mexico, and the Rangely oil field in the Colorado Rocky Mountains in the United States.

In the petrochemical field, Socal developed a series of new products. In 1951, the company established Oronite Chemical Company. In 1954, its refinery in Richmond became the first in the United States to produce paraxylene (PX).

In 1951, Socal's revenue exceeded US$1 billion for the first time, exceeding US$2 billion in 1961, and reaching nearly US$6 billion in 1969. During this period, Socal developed many new products, including Chevron gasoline and premium gasoline launched in 1945; RPM oil launched in 1950; and Chevron Custom Premium gasoline launched in 1959.

In 1961, Socal merged with Standard Oil Company (Kentucky), extending its business to five states in the southeastern United States.

In 1963, Socal built the Pascagoula refinery in Mississippi and started operations in Western Europe. In 1965, Socal launched the world's largest Isomax hydrocracking unit at the Richmond refinery, which can convert heavy oil into gasoline and other light finished oils.

The birth of the Chevron brand

The 1973 oil embargo and the subsequent wave of nationalization of oil resources in some countries had an adverse impact on Socal, but did not stop its exploration efforts. From the West Pembina oil field in Alberta, Canada to the Ninian oil field in the North Sea of the United Kingdom, these were all landmark oil discoveries during this period.

In the 1980s, Socal launched a large-scale acquisition campaign and launched the new Chevron premium unleaded gasoline. In 1984, Socal acquired Gulf Oil Company for US$13.3 billion, and its global proven oil and gas reserves almost doubled overnight. After the merger, it was renamed Chevron.

But Chevron's merger pace did not stop. In 1988, it also acquired the oil and gas assets of Texaco, becoming the leading oil and gas company in the Gulf of Mexico.

In the 1990s, Chevron shifted its exploration focus to international projects. In 1993, Chevron established a cooperative relationship with the Kazakh government and began developing the Tengiz oil field. In 1996, Chevron's earnings reached a record high of US$2.6 billion, and daily production also reached 1 million barrels.

In 1998, Chevron, having tasted success, established a corporate mergers and acquisitions team, with Texaco as one of its targets. In October 2001, the two companies merged and were renamed ChevronTexaco, the second-largest energy company in the United States, with oil and gas reserves exceeding 11 billion barrels, a daily refining capacity of 2.4 million barrels, 50 refineries, and the world's third-largest fleet.

Focus on upstream long-term growth

Entering the new century, ChevronTexaco recognized that the era of easily accessible oil had ended, and oil and gas exploration faced greater challenges, but its exploration well success rate remained leading. From 2002 to 2007, ChevronTexaco's average exploration well success rate was 42%, and the resource base increased by about 1 billion barrels.

In 2005, ChevronTexaco was renamed Chevron, and subsequently acquired Unocal.

In 2006, Chevron's well testing operations in the Gulf of Mexico set more than six world records in deepwater pressure, depth, and duration.

In 2009, Chevron successfully extracted the first batch of oil from the Tahiti oil field, the deepest water oil field in the Gulf of Mexico.

From 2010 to 2019, Chevron focused on deep sea, natural gas, shale oil and gas, and other fields, with oil and gas production continuously hitting new highs, reaching 2.9 million barrels of oil equivalent per day in 2018 and 3.06 million barrels of oil equivalent per day in 2019. Its downstream and chemical businesses have also become increasingly sophisticated. From 2010 to 2015, the company ranked first and second among its peers in terms of per-barrel oil profit and return on employed capital. In 2015, Chevron's downstream business achieved its best-ever performance, with revenue of US$7.6 billion.

Leading the future of low-carbon energy

In the 2020s of the 21st century, the challenges brought about by the sharp drop in energy prices did not shake Chevron's "position". Chevron quickly reduced capital expenditures by 35% based on 2019 levels and significantly reduced operating costs. In addition, it also acquired Noble Energy in 2020 and sold a series of assets in the central North Sea of the United Kingdom and Azerbaijan.

In 2020, Chevron formulated an energy transition strategy. In 2021, Chevron established a new energy department and implemented a series of low-carbon projects, including reaching cooperation agreements with Schlumberger New Energy, Microsoft, and Clean Energy Systems, carrying out carbon capture and storage (CCS) projects in California, developing bioenergy technologies, and producing zero-carbon or even negative-carbon electricity. Chevron's goal is clear: to use existing capabilities, assets, and customers to provide low-carbon energy to the world.

TotalEnergies: Europe's "Youngster"

Among the five major oil giants, TotalEnergies is relatively young, having just celebrated its 100th birthday in 2024, but it has undergone a more complex evolutionary process. It can be roughly understood as a merger of Compagnie Française des Pétroles (CFP), Petrofina, and Elf Aquitaine, resulting in today's TotalEnergies.

In terms of lineage, the predecessor of TotalEnergies can be traced back to Compagnie Française des Pétroles (CFP), established in 1924. Its primary purpose at the time of establishment was to formulate France's oil policy.

In terms of history, Petrofina was established in 1920, initially aiming to participate in the exploration, extraction, and refining of oil in Romania. This company flew solo for more than 60 years before merging into TotalEnergies, and for most of the time, it was in competition with TotalEnergies.

In terms of development momentum, Elf Aquitaine only emerged in the 1940s, but it quickly caught up and soon joined forces with its two predecessors.

As the saying goes, "all rivers run into the sea." From the perspective of Compagnie Française des Pétroles (CFP), the past can be summarized as follows:

From its inception, CFP acquired a 25% stake in Turkish Petroleum Company. With Turkey's first oil discovery in Iraq in 1927, CFP successfully entered the Middle East, and the significance of these shares was fully realized.

In 1929, CFP was listed on the Paris Stock Exchange. An agreement with the French government established a 25% state-owned stake, securing significant government support and attracting investment. In the same year, CFP established Compagnie Française de Raffinage (CFR) in a similar manner, with government funding and participation from independent French distributors. By 1935, CFR operated two refineries. By the late 1950s, the two refineries had a combined annual output of 8 million tons.

In 1939, the first natural gas discovery was made in mainland France. CFP established Régie Autonome des Pétroles (RAP), primarily responsible for the exploration, development, and transportation of French oil and gas.

In 1941, Aquitaine Petroleum Company, one of the predecessors of Elf Aquitaine, appeared on the historical stage. It was also partially state-owned and primarily engaged in oil and gas exploration in southern France. In 1951, Aquitaine Petroleum Company discovered a large natural gas field in the Béarn region of France, with estimated reserves exceeding 200 billion cubic meters.

In 1954, CFP and CFR marketed their refined products under the "Total" brand. Four years later, the Belgian Petroleum Financial Company, closely related to TotalEnergies' future, changed its Purfina brand, created in 1920, to Fina.

In 1956, CFP made significant oil and gas discoveries in Algeria, presenting a major opportunity for the French petroleum industry. To export natural gas from Algeria, CFP built the world's first liquefied natural gas (LNG) plant in the country.

In 1966, according to a decree promulgated in 1965 and implemented in 1966, the existing RAP and the Bureau de Recherches de Pétrole (BRP) merged to form Entreprise de Recherches et d'Activités Pétrolières (ERAP).

In 1967, ERAP unified its various brands under the Elf name, which became one of the most well-known brands under TotalEnergies later on.

In 1969, CFP acquired Indonesian oil and gas assets from a Japanese company, entering the Indonesian market. The following year, two major oil and gas discoveries were made in Indonesia, making CFP the second-largest international oil company in the country and changing the dominance of American oil companies in Indonesia.

In 1970, CFP and ERAP acquired Antar, a lubricating oil and grease company. At that time, Antar operated several refineries and owned 5,670 service stations in France.

The main characteristic of the French petroleum industry in the 1970s was large-scale restructuring. Notably, in 1976, ERAP and Aquitaine merged to create Elf Aquitaine. Thus, the "three musketeers" were all on the scene.

Total officially debuted under this name in the last two decades of the 20th century. On June 21, 1985, CFP changed its name to Total-Compagnie Française des Pétroles (Total CFP). In June 1991, CFP was dropped, leaving only Total. Meanwhile, the equity structures of Elf Aquitaine and Total underwent several changes, ultimately resulting in the French government no longer holding shares in either company. In 1999, Total merged with the Belgian Petroleum Financial Company to become Totalfina. In September of the same year, Totalfina and Elf Aquitaine planned to merge. The merger plan was approved by the European Union in 2000, and Totalfina was renamed TotalFinaElf. In 2003, the merged company was simplified to Total, marking the completion of the three-company merger process.

Entering the new century, Total, in order to adapt to the international political and economic situation, underwent several transformations and focused on energy transition. It not only invested heavily in acquiring or establishing companies related to new energy sources such as solar energy, wind energy, and batteries, but also changed its name to TotalEnergies in 2021, aiming to downplay its previous image as an oil and gas company and transform into a green and low-carbon energy company.

bp: Europe's leading "giant"

The bp brand is famous for its sunflower logo, symbolizing transformation and commitment to renewable energy, and reflecting its resilience as a century-old company. bp's origins can be traced back to the early 20th century. After more than a hundred years of development, it has become a leading energy company in Europe and a top player globally.

Inception and Development

bp's origins are closely related to Iran. In 1901, British businessman William Knox D'Arcy discovered a large oil field near Masjed Soleiman, Iran. In 1907, D'Arcy obtained a concession to exploit Iranian oil fields and established the Anglo-Persian Oil Company (APOC) in 1908. APOC developed the Masjid-i-Sulaiman oil field in 1908, becoming one of the important beginnings of the modern petroleum industry.

In 1914, APOC was certified by the British government and renamed the Anglo-Persian Oil Company, becoming an important energy supplier to the British government. To increase control over energy supply, the British government officially nationalized bp in 1928.

In 1932, bp merged with its partner Shell, reorganizing as Shell-Mex and BP, but APOC remained responsible for operations in Iran (then still called Persia). Shell and bp separated in 1976.

bp Born from Nationalization and Denationalization

In 1932, Iran revoked APOC's concession. After a year of negotiations, Iran obtained more shares and revenue, and APOC's operations in the Gulf region were restored. In 1935, Persia was renamed Iran, and APOC was renamed the Anglo-Iranian Oil Company (AIOC). In 1949, a pro-Western government in Iran briefly reached a new agreement with AIOC. In 1951, the Iranian parliament passed a bill to nationalize AIOC, but the British government persuaded the United States to jointly suppress this move.

In 1954, AIOC resumed operations in Iran with 40% foreign equity and was officially renamed the British Petroleum Company. Although the new profit-sharing scheme dealt a slight blow to bp, the World Bank assisted bp's investment plans in other Gulf countries, ensuring the company's profitability.

Vertical Integration and Expansion

From the 1960s onwards, bp began focusing on oil and gas development in Alaska, USA, and the North Sea in Europe, achieving mass production in the 1970s and weathering the two subsequent oil crises.

To expand its US business, in the 1970s, bp acquired Standard Oil Company (Ohio), achieving a close relationship with the US "Standard Oil" companies. In 1971, bp's equity in Middle Eastern national oil companies was partially or wholly nationalized by local governments. In 1979, bp's monopoly in Iran ended.

From 1981 to 1990, the Thatcher government implemented a privatization strategy, and the British government's holdings in bp were gradually divested.

In the 1970s, bp implemented a vertical integration strategy, shifting from upstream exploration to refining, transportation, and sales, establishing a complete petroleum industry chain.

From 1991 to 2020, bp successively acquired Amoco, Castrol, and Arco in the United States, further expanding its business scope and consolidating its position in the US market. With the rise of shale oil and gas development in the United States, bp also acquired Hess Shale Gas, accelerating its expansion in the US shale gas sector.

Layout Transformation

In 2000, bp proposed the "Beyond Petroleum" strategy, emphasizing sustainable development and diversified energy businesses, aiming to reduce carbon emissions and invest in renewable energy. In 2004, bp announced a US$1 billion investment in renewable energy projects, including wind, solar, and biomass energy, marking its entry into the renewable energy sector. In 2005, bp acquired the wind power company Green Energy and made large-scale investments in wind power projects. In 2007, bp began construction of the Solwind wind power project in the Scottish waters of the UK. In 2013, bp began cooperating with the International Energy Agency (IEA) to promote the global energy transition. In 2015, bp entered the electric vehicle charging market and deployed charging stations in multiple markets worldwide.

In 2021, bp announced a strategic transformation, planning to significantly reduce carbon emissions over the next decade, increase investment in renewable energy, and gradually exit some oil and gas businesses. In 2022, bp partnered with Tesla to further expand its electric vehicle charging network and invested in energy storage technology. At the same time, bp withdrew from the Russian market due to the European geopolitical conflict.

In 2023, bp invested in the construction of large-scale solar energy projects in the United States, continuing to advance its renewable energy strategy and setting new emission reduction targets. In 2024, bp invested in hydrogen energy technology and energy storage solutions, further transitioning to low-carbon energy and announcing the phasing out of coal-related businesses.

Oil Spill Accident

In bp's history, the Gulf of Mexico oil spill is a major stain. In 2010, a serious oil spill occurred on bp's Deepwater Horizon drilling platform in the Gulf of Mexico, becoming the worst environmental disaster in US history, triggering large-scale lawsuits, and resulting in huge fines and compensation for bp.

This incident significantly impacted bp's brand reputation and financial situation, prompting major adjustments in its safety and environmental management.

Future Outlook

Facing profound changes in the energy industry, bp intends to continue its energy transition and accelerate its deployment in the renewable energy sector. Through technological innovation, optimized resource utilization, and strategic planning, it is expected to maintain its leading position in the global energy industry in the future and make greater efforts to achieve global sustainable development goals.

bp's development history reflects the changes in the energy industry, from a traditional oil company to an integrated energy company, demonstrating its practice and commitment in adapting to changes in the global energy structure.

Ten Little-Known Century-Old Oil and Gas Companies

1. The oldest oil and gas company still active is Whessoe, founded in 1790 in the UK. Originally a foundry, it now provides multi-faceted solutions for the energy, oil and gas, and petrochemical industries, mainly focusing on refineries, drilling rigs, nuclear reactors, and hydroelectric power stations. In 1890, the company began to enter the oil and gas industry. In 1959, Whessoe designed and built the world's first commercial LNG import terminal. In 2013, it was acquired by Samsung C&T and now operates globally.

2. Ranked second is Maurel & Prom, founded in 1831 in France. It mainly engages in maritime operations between France and West Africa. After acquiring Hocol in 2004-2005, it entered Colombia and Venezuela and gradually expanded its business to Tanzania, Gabon, Congo, and Peru. In 2017, the Indonesian national oil company acquired the company, and now produces 22,934 barrels of oil equivalent per day.

3. Ranked third is the Philadelphia Gas Works, founded in 1836. Initially a street lighting company, it is now a municipally owned natural gas company, managing and operating over 9,000 kilometers of natural gas pipelines, delivering natural gas to 500,000 residential, commercial, and industrial customers annually.

4. Ranked fourth is the Connecticut Natural Gas Company, founded in 1840 in the United States. Now a subsidiary of AVANGRID, it operates 3,476 kilometers of natural gas pipelines.

5. Ranked fifth is Aker Solutions, founded in 1841 in Norway. Initially engaged in mechanical work, it turned to the oil and gas industry after finding the Ekofisk oil field in the North Sea in 1969. In 2015, Aker Solutions provided the first subsea gas compression system for the Norwegian Asgard oil field.

6. Ranked sixth is Naturgy Energy Group, founded in 1843 in Spain. It was the first company to provide public lighting in Barcelona. In 1911, it entered the thermal and hydroelectric power industries, and in 1912, it was renamed Catalana Gas and Electric Company. Currently, its business spans over 30 countries across five continents, and it is a major LNG supplier in the Mediterranean and Atlantic regions.

7. Ranked seventh is WGL Holdings, founded in 1848. It is a public utility company in Washington, providing a stable natural gas supply for over 160 years. It now supplies natural gas to Virginia, Maryland, and other states.

8. Ranked eighth is Stadtwerke Bielefeld, founded in 1856 in Germany. Initially a natural gas trading company, it later expanded into the supply of electricity, natural gas, water, and heat. Currently, it focuses on environmental protection, renewable energy, and green power generation.

9. Ranked ninth is Uztel, founded in 1856. Originally a Romanian oil field equipment manufacturing and after-sales service company, it has over 100 years of experience in the oil and gas industry and built the world's first refinery. In 1904, Standard Oil reorganized its business, and in 1991, it became a joint-stock company. In 2004, it was privatized.

10. Ranked tenth is Itochu Corporation, founded in 1858. Initially engaged in flax trade, it entered the energy business in 1996 and currently has energy assets in Qatar, Oman, Singapore, and the United States.

Comment: Empowering High-Quality Development with Brand Soft Power

● Sun Weiwei

With the deep integration of the global economy, brands have become an important symbol of a company's core competitiveness, and an important indicator of a nation's economic strength and cultural soft power. On May 10, 2014, General Secretary Xi Jinping proposed "transforming China's manufacturing into China's creation, China's speed into China's quality, and China's products into China's brands." The transition from "Made in China" to "China Brands" is a necessary requirement for China's industrial upgrading and the key to high-quality economic development.

In recent years, Chinese companies have achieved remarkable results in brand building, with the rise of domestic brands winning the favor of global consumers with innovative products, high-quality services, and unique brand cultures. For example, Huawei's products and solutions serve more than 170 countries and regions globally; Xiaomi's smartphones and smart home products are popular overseas; BYD's new energy vehicles are exported to Europe, Southeast Asia, and other regions, rewriting the global automotive industry landscape.

Under the current global trend of energy transformation, international oil giants are choosing to transform from "energy suppliers" to "integrated energy service providers," with sustainable development becoming key to their brand building. How to empower high-quality development with brand soft power has become a question that Chinese energy companies must answer. As a major state-owned energy and chemical enterprise, Sinopec's brand value continues to appreciate, and its brand building capabilities rank among the top among central enterprises. In 2024, it was awarded the first batch of excellent results group brands in the Central Enterprise Brand Leading Action.

However, in the process of development from "big" to "strong," Chinese brands still have a long way to go. Compared with international oil giants, Chinese energy companies still have a certain gap in brand influence and brand value, and brand internationalization also faces challenges such as cultural differences, trade barriers, and intellectual property protection.

Against the backdrop of achieving sustainable development and "dual carbon" goals, Chinese energy companies should use technology as an engine, increase investment in research and development, design, quality, and services, and drive brand development through innovation. Through technological innovation, master core technologies, and improve product added value; through design innovation, give products unique appearances and functions to meet the personalized needs of consumers; through service innovation, optimize user experience, and enhance brand stickiness. At the same time, Chinese energy companies should also pay attention to brand culture building, excavate the stories and connotations behind the brand, combine traditional Chinese culture with modern brand concepts, and create a brand image with cultural heritage and emotional resonance.

Internationalization is a standard configuration for world-class companies and an important direction for brand building. Chinese energy companies need to conduct in-depth research on international market demand and formulate different brand marketing strategies. For example, strengthen cross-cultural communication and integration, respect local cultural customs and consumption habits, and use localized strategies to enhance brand affinity and recognition; actively participate in international cooperation and competition, integrate global resources through mergers and acquisitions, joint ventures, and cooperation, expand open win-win cooperation, improve brand internationalization operation capabilities, and create world-renowned brands with global competitiveness and international influence. (From Sinopec News)