China Petrochemical Corporation (Chinese: 中国石油化工集团公司; pinyin: Zhōngguó Shíyóu Huàgōng Jítuán Gōngsī) or Sinopec Group is an oil refining, gas and petrochemical conglomerate, administered by SASAC for the State Council of the People's Republic of China. It is headquartered at Chaoyangmenwai in Beijing, across the road from the headquarters of fellow state-owned oil company and competitor CNOOC Group. According to the Fortune Global 500 list in 2021, Sinopec was the largest energy company in the world by revenue, the largest state-owned enterprise in both China and the world, and second largest company in the world in terms of revenue, behind only American retail store chain Walmart.[4]
 | |
 Headquarters in Beijing | |
Native name | 中国石油化工集团公司 |
|---|---|
| Company type | State-owned enterprise |
| Industry | Petroleum refining |
| Founded | 1998 |
| Headquarters | , |
Area served | Worldwide |
Key people | Zhang Yuzhuo (Chairman)[1] Zhang Yongsheng (President) |
| Services | Holding company of oil and gas companies |
| Revenue |  ¥ 2,966 billion (2019)[1] |
 ¥ 90.025 billion (2019)[1] | |
| ¥ 54.271 billion (2019)[1] | |
| Total assets | ¥ 1,755 billion (2019)[1] |
| Total equity | ¥ 739 billion (2019)[1] |
| Owner | China Petrochemical Corporation (68.31%)[1] Hong Kong Exchanges and Clearing (20.97%)[1] |
Number of employees | 582,648 (Q3 2020) [2] |
| Subsidiaries | China Petroleum and Chemical Corporation (Sinopec Ltd.) |
| Website | China Petrochemical Corporation |
| Footnotes / references in consolidated basis[3] | |
| China Petrochemical Corporation | |||||||
|---|---|---|---|---|---|---|---|
| Simplified Chinese | 中国石油化工集团公司 | ||||||
| Traditional Chinese | 中國石油化工集團公司 | ||||||
| |||||||
Sinopec Group ranked the 2nd in the Fortune Global 500 List in 2020, with revenue over US$407 billion.[5] In the 2020 Forbes Global 2000, Sinopec was ranked as the 60th largest public company in the world.[6]
Subsidiaries
editIts major subsidiary, China Petroleum and Chemical Corporation Limited, commonly referred to as "Sinopec Limited", is listed on the Hong Kong Stock Exchange and the Shanghai Stock Exchange.[7][8]
Sinopec Ltd. is involved in the production of various petroleum products, including gasoline, diesel, jet fuel, kerosene, ethylene, synthetic fibers, synthetic rubber, synthetic resins, and chemical fertilizers, in addition to exploration of crude oil and natural gas within China.[9] It also produces several biofuels such as biodiesel and green jet fuel, from waste vegetable oil. It also produces ethanol.[10][11][12][13]
References
edit- ^ a b c d e f g h "SINOPEC Annual Report 2019" (PDF). www.sinopec.com/. China Petrochemical Corporation. 27 March 2020. Retrieved 19 December 2020.
- ^ "Sinopec Group | 2021 Global 500".
- ^ "2014 Annual Report" (PDF). Sinopec Group. 2015. Archived (PDF) from the original on 13 April 2016. Retrieved 7 May 2016.
- ^ "Global 500". Fortune. Retrieved 15 July 2021.
- ^ "Global 500 2020". Fortune. Retrieved 16 December 2020.
- ^ "Forbes Global 2000". Forbes. Retrieved 31 October 2020.
- ^ China Petrochemical Corporation Company Introduction Archived 2008-04-11 at the Wayback Machine
- ^ "China Petrochemical Corporation Company Profile". Archived from the original on 19 September 2012. Retrieved 9 September 2015.
- ^ "China Petroleum & Chemical Corp". Bloomberg News. Archived from the original on 19 March 2017. Retrieved 6 March 2017.
- ^ "Biofuels push to help clear the air". Archived from the original on 22 July 2019. Retrieved 22 July 2019.
- ^ "New energy". Archived from the original on 27 May 2019. Retrieved 22 July 2019.
- ^ "Sinopec company prepares to produce green jet fuel". 16 August 2012. Archived from the original on 22 July 2019. Retrieved 22 July 2019.
- ^ "The coming biofuel revolution". Archived from the original on 22 July 2019. Retrieved 22 July 2019.
