China Petrochemical Corporation

China Petrochemical Corporation (Chinese: 中国石油化工集团公司) or Sinopec Group is the world's largest oil refining, gas and petrochemical conglomerate,[3] 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.

Not to be confused with China Petroleum & Chemical Corporation.
China Petrochemical Corporation
Native name
中国石油化工集团公司
TypeState-owned enterprise
IndustryPetroleum refining
Founded1998 (1998)
Headquarters
Chaoyang District, Beijing
,
China
Area served
Worldwide
Key people
Zhang Yuzhuo (Chairman)[1]
Ma Yongsheng (President)
ServicesHolding 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]
OwnerChina Petrochemical Corporation (68.31%)[1]
Hong Kong Exchanges and Clearing (20.97%)[1]
Number of employees
402,206 (2019)[1]
ParentSASAC
SubsidiariesChina Petroleum and Chemical Corporation (Sinopec Ltd.)
WebsiteChina Petrochemical Corporation
Footnotes / references
in consolidated basis[2]

Sinopec Group ranked the 2nd in the Fortune Global 500 List in 2020, with revenue over US$407 billion.[4] In the 2020 Forbes Global 2000, Sionpec was ranked as the 60th largest public company in the world.[5]

It is the second largest company in the world in terms of revenue.

Taking into account its scope 3 greenhouse gas emissions, meaning emissions caused by the public and other companies using its products to power the modern economy, Sinopec has been one of the public companies with the most associated emissions.[6][7][8] However, the company says that it has taken steps to minimise the environmental impact of its operations.[9]

Subsidiaries

Its 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.[10][11]

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.[12] It also produces several biofuels such as biodiesel and green jet fuel, from waste vegetable oil. It also produces ethanol.[13][14][15][16]

References
  1. "SINOPEC Annual Report 2019" (PDF). www.sinopec.com/. China Petrochemical Corporation. March 27, 2020. Retrieved December 19, 2020.
  2. "2014 Annual Report" (PDF). Sinopec Group. 2015. Archived (PDF) from the original on 13 April 2016. Retrieved 7 May 2016.
  3. "Sinopec operating revenue 2017". Archived from the original on 2018-10-10. Retrieved 2018-06-03.
  4. "Global 500 2020". Fortune. Retrieved 16 December 2020.
  5. "Forbes Global 2000". Retrieved 31 October 2020.
  6. "CDP Carbon Majors Study Overview". Retrieved 29 December 2020.
  7. "CDP Carbon Majors Report 2017" (PDF). Retrieved 29 December 2020.
  8. "Carbon Majors Dataset". Retrieved 29 December 2020.
  9. "Environment". Sinopec. Retrieved 28 January 2021.
  10. China Petrochemical Corporation Company Introduction Archived 2008-04-11 at the Wayback Machine
  11. "China Petrochemical Corporation Company Profile". Archived from the original on 2012-09-19. Retrieved 2015-09-09.
  12. "China Petroleum & Chemical Corp". Archived from the original on 2017-03-19. Retrieved 2017-03-06.
  13. "Biofuels push to help clear the air". Archived from the original on 2019-07-22. Retrieved 2019-07-22.
  14. "New energy". Archived from the original on 2019-05-27. Retrieved 2019-07-22.
  15. "Sinopec company prepares to produce green jet fuel". Archived from the original on 2019-07-22. Retrieved 2019-07-22.
  16. "The coming biofuel revolution". Archived from the original on 2019-07-22. Retrieved 2019-07-22.
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