China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group, established by the state in July on the basis of reconstructing the former China Petrochemical Corporation. Beijing based Sinopec Group has a registered capital of RMB 274.9 billion with the board chairman of Sinopec Group serving as its legal representative. Sinopec Group exercises the investor’s rights to the related state assets owned by its full subsidiaries, controlled companies and share-holding companies, including receiving returns on assets, making major decisions and appointing managers. 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.
The principal operations of Sinopec Group include industrial investment and investment management; the exploration, production, storage and transportation (including pipeline transportation), sale and comprehensive utilization of petroleum and natural gas; the production, sale, storage and transportation of coal; oil refining; the storage, transportation , wholesale and retailing of oil products; the production, sale, storage, transportation of petrochemical products, natural gas chemicals, coal chemical products and other chemical products; the production, sale, storage and transportation of energy products such as new energy and geothermal energy; the exploration, design, consulting, construction and installation of petroleum and petrochemical engineering projects; the overhaul and maintenance of petroleum and petrochemical equipments; the R & D, manufacturing and sale of electrical and mechanical equipments; the production and sale of electricity, steam, water and industrial gas; the research,development, application and consulting services of technology, e-commerce, information and alternative energy products; the import & export, including an import and export agency business, of self-support products and commodity and technologies;foreign project contracting, bidding and purchasing, and labor export; the international storage and logistics business.
At present, Sinopec Group is the largest oil and petrochemical products suppliers and the second major oil and gas producer in China, the largest Oil Refinery Company and the second largest chemical company in the world, the total numbers of gas station in second place in the world, ranked the 4th in the Fortune Global 500 in 2016.
Where is China Petrochemical Corporation (Sinopec Group)