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SOCAR and Sinopec Corp. sign memorandum of understanding

09 November 2026 15:24 (UTC +04:00)

A Memorandum of Understanding on Strategic Cooperation has been signed between SOCAR and China Petroleum & Chemical Corporation (Sinopec Corp.) in Shanghai, People's Republic of China, SOCAR told APA-Economics.

The document was signed by SOCAR Vice President Fuad Musayev and Sinopec Corp. Vice President Li Yuxing.

The memorandum aims to develop cooperation between the companies in the areas of procurement and supply chain management.

Under the document, the parties will cooperate in exchanging information on supplier resources and developing supply chain management strategies.

The memorandum also envisages the exchange of experience and best practices between the companies, exploring opportunities for the mutual inclusion of products, equipment and services in their procurement and supply chains, as well as cooperation in other areas to be mutually agreed upon.

Ilaha Salimova

Azerbaijan China SOCAR Sinopec Corp. China Petroleum & Chemical Corporation Fuad Musayev Li Yuxing memorandum of understanding strategic cooperation procurement supply chain management Shanghai energy cooperation