|Apr 21, 2017|
|Apr 21, 2017|
Currency in HKD
|Full time employees:||451,611|
China Petroleum & Chemical Corp. is an energy and chemical company. It engages in the exploration, production and transportation of petroleum products such as crude oil and natural gas. The company operates through the following business segments: Exploration & Production, Refining, Marketing & Distribution, Chemicals, and Corporate & Others. The Exploration & Production segment explores crude oil and natural gas. The Refining segment processes crude oil and natural gas to produce petroleum products. The Marketing & Distribution segment operates service stations, and sells refined products at wholesale or retail. The Chemicals segment manufactures and sells chemical products. The Corporate & Others segment includes trading, research and development activities of the company. China Petroleum & Chemical was founded on February 25, 2000 and is headquartered in Beijing, China.
China Petroleum & Chemical (Sinopec) is a core subsidiary of China Petrochemical, or Sinopec Group. The parent falls under the purview of China's State Council.
Sinopec is one of the world's largest oil companies. It dominates the domestic oil and gas business alongside state-owned PetroChina. It develops resources in addition to making petroleum and petrochemical products.
Sinopec Group was founded as a general oil company in 1998, on the basis of the former China Petrochemical Corporation. The parent incorporated Sinopec in 2000; the unit listed on the Hong Kong, London and New York bourses the same year. Sinopec Group controls 70% of the subsidiary's outstanding shares.
The company is China's biggest retailer of gasoline, with 30,000 stations across the country. Sinopec enjoys a robust operating base that is protected by government regulations. Sinopec alone accounts for 60-70% of China's crude oil imports.
To meet China's huge demand for energy, Sinopec actively pursued resource concessions abroad. Under President Xi Jinping, however, it has eased up on such spending. The government is looking to guide the economy onto a slower but more stable growth trajectory.
The company is now focusing on shale gas development in China.
At the same time, it is accelerating management reforms. Privatizing gas stations is one initiative. Yet Sinopec's profitability is far lower than major rivals in the U.S. and Europe, suggesting inefficiencies remain.
In a country grappling with severe air pollution, critics say Sinopec could and should do more to protect the environment.
In the news
April 21, 2017 2:27 pm JST
April 20, 2017 2:50 pm JST
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April 13, 2017 2:42 pm JST
Greater reliance on imports to leave region vulnerable to market fluctuations
April 13, 2017 10:00 am JST
- Local currency
- US Dollar
|Income before tax||82,456.46M|
|Dividends per share||0.28|
|Operating cash flow||255,382.40M|
Currency in HKD
|Income before tax||10,622.46M|
|Dividends per share||0.03|
|Operating cash flow||32,899.68M|
Currency in USD
- Vice Chairman & President: Hou Liang Dai
- Chief Financial Officer: Dehua Wang
- Executive Director & Senior Vice President: Zhi Gang Wang
- Executive Director & Senior Vice President: Hai Chao Zhang
- Executive Director & Senior Vice President: Fang Zheng Jiao
- The Vanguard Group, Inc.(4.1%)
- Hang Seng Investment Management Ltd.(3.6%)
- BlackRock Fund Advisors(3.0%)
- China State-Owned Assets Supervision & Admn Commission(2.8%)
- Schroder Investment Management Ltd.(1.8%)
- Norges Bank Investment Management(1.6%)
- FIL Investment Management (Hong Kong) Ltd.(1.6%)
- BlackRock Advisors (UK) Ltd.(1.5%)
- State Street Global Advisors Asia Ltd.(1.3%)
- Templeton Asset Management Ltd. (Hong Kong)(1.3%)
- Website: http://english.sinopec.com/about_sinopec
- Address: 22 Chaoyangmen North Street, Chaoyang District, Beijing, 100728, China
- Phone: +86.10.59960028
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