Alibaba Group Holding Ltd, the Chinese e-commerce giant, will provide cloud computing services and “big data” analysis to Sinopec, China’s largest oil refiner, the companies announced.
China Petroleum & Chemical Corp—better known as Sinopec—is only seeking Alibaba’s technical services, and the tie-up does not involve an equity swap, the company said on its official microblog. Sinopec didn’t mention how much the deal was worth.
Aliyun, Alibaba’s cloud computing wing, will help Sinopec improve its traditional petrochemical services, along with setting up a cloud-based business systems and carry out data analytics on its whole petrochemical production chain, according to Reuters.
