Dongying Konar New Materials Co., Ltd. is located in Dongying City, where Shengli Oilfield, the second largest oilfield in China, is located. The company was originally a restructured enterprise of Shengli Oilfield.  It is an integrated oilfield chemical company integrating scientific research, production and sales. The main products include oilfield chemicals , refinery chemicals and lubricant additives.

Relying on the technical strength of universities, the company has established a joint research and development center with scientific research institutions of universities such as China University of Petroleum (East China), Tsinghua University, and Shengli College of China University of Petroleum, forming a high-quality talent team represented by professors, doctors, masters, and senior engineers. The company's products are widely used in major domestic oilfields such as Shengli Oilfield, Changqing Oilfield, and CNOOC, and have entered international markets such as the Middle East, Russia, India and Africa. The key performance indicators of the company's products have reached international first-class levels, and in 2023 it was rated as a key high-tech enterprise in the National Torch Program.