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On September 22, Sinopec Group Co., Ltd., COSCO Group, and China Eastern Airlines jointly held in Shanghai the ceremony for certifying China’s first oil product as carbon-neutral throughout its entire life cycle. The Shanghai Environment and Energy Exchange issued China’s first carbon-neutral petroleum certification to three companies respectively. According to Sinopec, the crude oil used in this carbon-neutral petroleum project comes from the share of oil that Sinopec’s Guokan Company holds in Angola. It is imported by Sinopec United Petrochemicals, with COSCO Shipping acting as the carrier; the journey covers over 9,300 nautical miles before the oil arrives at Zhoushan Port in China. These 30,000 tons of crude oil were refined at Sinopec’s Kaqiao Petrochemical Plant, yielding a total of 8,963 tons of gasoline for vehicles, 2,276 tons of diesel for vehicles, 5,417 tons of aviation kerosene, as well as 2,786 tons of liquefied petroleum gas, 6,502 tons of diesel for ships, and 2,998 tons of low-sulfur fuel oil for ships. To offset the carbon emissions associated with the entire life cycle of oil, the three companies mentioned above implement energy-saving and emission-reduction strategies as well as purchase **Certified Emission Reductions (CCER)** to address these emissions; they have also appointed the Shanghai Environment and Energy Exchange as the agency responsible for carbon neutrality certification. It is reported that these three companies have implemented energy-saving and emission-reduction strategies, as well as purchased **Certified Emission Reductions (CCERs)** to offset the carbon emissions generated throughout the oil’s life cycle. The emission-reduction projects include the Fenglin Carbon Sequestration Afforestation Project in Jiangxi, the Gantangzi Grid-Connected Photovoltaic Power Plant project in Binchuan County, Dali Prefecture, the 50-megawatt grid-connected photovoltaic power plant project of Hanergy Hainan Prefecture, the Nanjing Jinling Natural Gas Combined Cycle Grid-Connected Power Generation Project, the Liumao Wind Farm project in Mishan Forest Farm, Heilongjiang Province, the first phase of the Shagou Wind Farm project developed by China General Nuclear Group in Shandong Province, and rural biogas projects in Jingshan County, Hubei Province. By supporting the development of agriculture and forestry in remote areas, the development of low-carbon green energy sources, and poverty alleviation efforts, these projects have enabled the creation of China’s first carbon-neutral oil product.