The paper gives a brief introduction to the merge and reorganization of international petroleum and petrochemical corporations, expounds on the trends of operation and development of foreign main petroleum corporations and puts forth relevant proposals as regards the development of China's petrochemical industry.

The article,in view of both internal and external markets,expounds on the competition and cooperation,mutual supplement and pioneering among China s three major petroleum corporations as well as on the strategy of harmonious economic development with their neighboring regions.