Two large oil companies laying out Internet + Energy

Both PetroChina and Sinopec are transforming oil sales methods in a low profile.

On August 25, PetroChina Hunan operation and Alibaba’s Tmall initiated “Internet + Energy” by establishing the mobile payment platform by integrating resources. PetroChina has already announced strategic cooperation with Tencent in June. It seems that PetroChina is transforming with the help from two Internet giants: Tencent and Alibaba.

Sinopec has adopted mixed operation combing social capital and private capital in oil sales since early 2014. By the beginning of this year, Sinopec has raised more than 100 billion RMB of private capital to support sales transformation. It shows tha Sinopec has embraced “Internet Plus” by cooperating with Tencent and Alibaba earlier than PetroChina.