China Petroleum & Chemical Corp.
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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.
|Income before tax||100,839.66M||12,866.23M|
|Dividends Per Share||0.47||0.06|
|Operating cash flow||220,798.78M||28,171.93M|
|Currency in HKD||Currency in USD|
|Dec 2014||Dec 2015||Dec 2016||Dec 2017||Dec 2018|
|Income before tax||77,870.25M||59,267.51M||82,776.60M||80,914.41M||100,839.66M|
|Dividends Per Share||0.25||0.18||0.28||0.61||0.47|
|Operating cash flow||179,326.60M||201,331.18M||249,965.61M||227,821.14M||220,798.78M|
|Dec 2014||Dec 2015||Dec 2016||Dec 2017||Dec 2018|
|Income before tax||10,041.70M||7,644.88M||10,663.71M||10,383.20M||12,866.23M|
|Dividends Per Share||0.03||0.02||0.03||0.07||0.06|
|Operating cash flow||23,124.94M||25,969.59M||32,201.86M||29,234.76M||28,171.93M|
- President, General Manager, Executive Director: Yong Sheng Ma
- Chief Financial Officer: De Hua Wang
- Executive Director & Senior Vice President: Yi Qun Ling
- Senior Vice President: Dian Wu Lei
- Executive Director & Senior Vice President: Zhong Yun Liu
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- Address: 22 Chaoyangmen North Street, Chaoyang District, Beijing, 100728, China
- Phone: +86.10.59960114
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