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                                                                     Exhibit 4.2

                            CRUDE OIL MUTUAL SUPPLY
                       FRAMEWORK AGREEMENT FOR YEAR 2007

                                    BETWEEN

                           PETROCHINA COMPANY LIMITED

                                      AND

                        CHINA PETROCHEMICAL CORPORATION

                                    BEIJING

                                  JANUARY 2007

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           CRUDE OIL MUTUAL SUPPLY FRAMEWORK AGREEMENT FOR YEAR 2007

      PetroChina Company Limited ("PetroChina") and China Petrochemical
Corporation ("Sinopec"), following friendly consultations and on the basis of
equality, have entered into this Agreement (this "Agreement") on mutual supply
of crude oil in the year of 2007.

I. QUANTITIES AND VARIETIES OF CRUDE OIL TO BE SUPPLIED HEREUNDER

   1. In 2007, PetroChina shall supply Sinopec with 7.1 million tons of domestic
      onshore crude oil, including 4.8 million tons of blended oil produced at
      the Daqing Oil Region (excluding replacement crude oil), 0.7 million tons
      of oil produced at the Jizhong Oil Region, 0.8 million tons of oil
      produced at the Changqing Oil Region, and 0.8 million tons of oil produced
      at the Tarim Basin Oil Region.

   2. In 2007, Sinopec shall supply PetroChina with 1.12 million tons of
      domestic onshore crude oil, including 0.5 million tons produced at the
      Tahe Oil Region and 0.5 million tons produced at the Shengli Oil Region,
      60,000 tons produced at Jilin (Yaoyintai) Oil Region, 40,000 tons produced
      at Inner Mongolia (Baiyinchagan) Oil Region, and 20,000 tons produced at
      Sinopec Southern Exploration and Production Company (Baise).

   3. The parties hereto shall, in principle, make available crude oil of the
      above supply and take delivery thereof on an evenly distributed basis. The
      quarterly mutual supply of crude oil may be adjusted as necessary by
      mutual agreement thereon and in light of the availability of crude oil
      resources, price and the State's macro-economic planning requirements.

II. QUALITY OF CRUDE OIL

      Matters with respect to the quality of the crude oil to be supplied
hereunder shall be handled pursuant to applicable provisions of SY7513-88
Technical Conditions of Crude Oil at Wellhead.

III.  QUARTERLY SUPPLY AGREEMENTS; SALES AND PURCHASE CONTRACTS ON AN
      ENTERPRISE-BY-ENTERPRISE BASIS

      Quarterly supply agreements shall be entered into by and between
PetroChina Natural Gas & Pipeline Company and the Production and Management
Department of Sinopec. After the quarterly plans have been made known to their
respective subsidiaries, PetroChina's regional companies (including its oil
fields, refineries and pipeline companies) and Sinopec's subsidiaries (including
its oil fields and refineries)

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will enter into specific sales and purchase contracts. The total quantities and
varieties of crude oil to be supplied under such contracts shall be consistent
with those specified under the above quarterly supply agreements.

IV.   PRICE OF CRUDE OIL

   The price of crude oil to be supplied hereunder shall be settled on the basis
of the standard crude oil price published by the National Development and Reform
Commission each month and the crude oil premium mutually agreed between the
parties.

V.    PAYMENT GUARANTEE

   Payment of the price of crude oil to be supplied hereunder shall be made on a
timely basis and pursuant to principles agreed upon by the parties hereto.
PetroChina and Sinopec agree to be guarantors, and to take ordinary guarantee
liabilities for the failure of timely payment of the price of crude oil and
other payments by their respective oil refineries. The payer shall make timely
payments to the payee upon receipt of and pursuant to the payment notice.

PLANNING DEPARTMENT,                   PRODUCTION MANAGEMENT DEPARTMENT,
PETROCHINA COMPANY LIMITED             CHINA PETROCHEMICAL CORPORATION

By: /s/ WU Mei                         By: /s/ CHANG Zhenyong
    ----------------------                 -------------------------------

Date: January 2007                     Date: January 2007


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