China Petroleum Polyacrylamide Central Procurement Savings Nearly RMB 300 Million

On June 23, the Group authorized the Daqing Oilfield Organization, Daqing Oilfield Company Materials Management Department and Daqing Oilfield Materials Company to sponsor the centralized procurement of China Polyol's polyacrylamide in 2010. Calculated according to the annual budget of 163,000 tons, the final negotiated price will be 293 million yuan less than the initial quotation.

This time, China Petroleum Polyacrylamide centralized procurement amounted to 117,000 tons, and the budget purchase amount was nearly 2 billion yuan. It is currently the largest amount of centralized procurement. Daqing Oilfield Materials Co., Ltd., as the organizer, adhered to the principles of openness, fairness, and fairness, and provided a good competitive atmosphere for all manufacturers. Through this centralized procurement, an annual price standard for polyacrylamide was formed.

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