China Petrochemical Corporation
Updated: October 20, 2016 Source: sasac.gov.cn
China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group, established in July 1998 on the basis of the former China Petrochemical Corporation. Sinopec Group is a state-owned company solely invested by the state, functioning as a state-authorized investment organization in which the state holds the controlling share. Headquartered in Beijing, Sinopec Group has a registered capital of RMB 231.6 billion. The board chairman of Sinopec Group is its legal representative.
Sinopec Group executes the investor rights over related state assets owned by its full subsidiaries, controlled companies and share-holding companies. These rights include receiving returns on assets, making major decisions and appointing management teams. The Group operates, manages and supervises state assets according to related laws, and shoulders the corresponding responsibility of maintaining and increasing the value of state assets. China Petroleum and Chemical Company (Sinopec Corp.), controlled by Sinopec Group, issued H-shares and A-shares at overseas and home respectively in October 2000 and August 2001 and was listed on stock markets in Hong Kong, New York, London and Shanghai.
Sinopec Group’s key business activities include: industrial investment and investment management; the exploration, production, storage and transportation (including pipeline transportation), marketing and comprehensive utilization of oil and natural gas; the production, marketing, storage and transportation of coal; oil refining; the storage, transportation ,wholesale and retail of oil products; the production, marketing, storage, transportation of petrochemicals, natural gas chemicals, coal chemicals and other chemical products; the exploration, design, consulting, construction and installation of petroleum and petrochemical engineering projects; the overhaul and maintenance of petroleum and petrochemical equipments; the research and development, manufacturing and marketing of electrical and mechanical equipments; the production and marketing of electricity, steam, water and industrial gas; the research, development, application and consulting services of technology, e-business, information and alternative energy products; the import and export of self-support and agent commodity and technology; foreign project contracting, invite bidding, labor export; the international storage and logistics business.
Sinopec Group ranked the 3rd in the Fortune Global 500 in 2014.
Editor: Song Lifang
