China Petrochemical Corporation () or Sinopec Group is the world's largest
oil refining
An oil refinery or petroleum refinery is an industrial process plant where petroleum (crude oil) is transformed and refined into useful products such as gasoline (petrol), diesel fuel, asphalt base, fuel oils, heating oil, kerosene, liquefi ...
,
gas and
petrochemical
Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewabl ...
conglomerate, administered by
SASAC
The State-owned Assets Supervision and Administration Commission of the State Council (SASAC) is a special commission of the People's Republic of China, directly under the State Council. It was founded in 2003 through the consolidation of vario ...
for the
State Council of the People's Republic of China
The State Council, constitutionally synonymous with the Central People's Government since 1954 (particularly in relation to local governments), is the chief administrative authority of the People's Republic of China. It is chaired by the pr ...
. It is
headquartered at
Chaoyangmen
Chaoyangmen (; Manchu:; Möllendorff:šun be aliha duka) was a gate in the former city wall of Beijing. It is now a transportation node and a district border in Beijing. It is located in the Dongcheng District of northeastern central Beijing. R ...
wai in
Beijing
}
Beijing ( ; ; ), Chinese postal romanization, alternatively romanized as Peking ( ), is the Capital city, capital of the China, People's Republic of China. It is the center of power and development of the country. Beijing is the world's Li ...
, across the road from the headquarters of fellow state-owned oil company and competitor
CNOOC Group
China National Offshore Oil Corporation, or CNOOC Group (Chinese: 中国海洋石油总公司 Pinyin: ''Zhōngguó Háiyáng Shíyóu Zǒnggōngsī''), is one of the largest national oil companies in China, and the third-largest national oil ...
.
Sinopec Group ranked the 2nd in the
Fortune Global 500
The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by ''Fortune'' magazine.
Methodology
Until 1989, it listed onl ...
List in 2020, with
revenue
In accounting, revenue is the total amount of income generated by the sale of goods and services related to the primary operations of the business.
Commercial revenue may also be referred to as sales or as turnover. Some companies receive rev ...
over US$407 billion. In the 2020
Forbes Global 2000
The ''Forbes'' Global 2000 is an annual ranking of the top 2000 public companies in the world, published by ''Forbes'' magazine. "The Global 2000" annual ranking is assembled by ''Forbes'' using a weighted assessment of four metrics: sales, profit ...
, Sinopec was ranked as the 60th largest public company in the world.
According to the
Fortune Global 500
The ''Fortune'' Global 500, also known as Global 500, is an annual ranking of the top 500 corporations worldwide as measured by revenue. The list is compiled and published annually by ''Fortune'' magazine.
Methodology
Until 1989, it listed onl ...
list in 2021, Sinopec was the
largest energy company in the world by revenue, the largest
state-owned enterprise
A state-owned enterprise (SOE) is a government entity which is established or nationalised by the ''national government'' or ''provincial government'' by an executive order or an act of legislation in order to earn profit for the governmen ...
in both China and the world, and
second largest company in the world in terms of revenue, behind only American retail store chain
Walmart
Walmart Inc. (; formerly Wal-Mart Stores, Inc.) is an American multinational retail corporation that operates a chain of hypermarkets (also called supercenters), discount department stores, and grocery stores from the United States, headquarter ...
.
Subsidiaries
Its major
subsidiary
A subsidiary, subsidiary company or daughter company is a company owned or controlled by another company, which is called the parent company or holding company. Two or more subsidiaries that either belong to the same parent company or having a ...
,
China Petroleum and Chemical Corporation Limited, commonly referred to as "
Sinopec
China Petroleum & Chemical Corporation (中国石油化工股份有限公司) or Sinopec (), is a Chinese oil and gas enterprise based in Beijing. It is listed in Hong Kong and also trades in Shanghai.
Sinopec Limited's parent, Sinopec ...
Limited", is listed on the
Hong Kong Stock Exchange
The Stock Exchange of Hong Kong (SEHK, also known as Hong Kong Stock Exchange) is a stock exchange based in Hong Kong. As of the end of 2020, it has 2,538 listed companies with a combined market capitalization of HK$47 trillion. It is rep ...
and the
Shanghai Stock Exchange
The Shanghai Stock Exchange (SSE) is a stock exchange based in the city of Shanghai, China. It is one of the three stock exchanges operating independently in mainland China, the others being the Beijing Stock Exchange and the Shenzhen Stock Excha ...
.
Sinopec Ltd. is involved in the production of various petroleum products, including gasoline, diesel, jet fuel, kerosene, ethylene, synthetic fibers,
synthetic rubber
A synthetic rubber is an artificial elastomer. They are polymers synthesized from petroleum byproducts. About 32-million metric tons of rubbers are produced annually in the United States, and of that amount two thirds are synthetic. Synthetic rubb ...
, synthetic resins, and chemical fertilizers, in addition to
exploration
Exploration refers to the historical practice of discovering remote lands. It is studied by geographers and historians.
Two major eras of exploration occurred in human history: one of convergence, and one of divergence. The first, covering most ...
of crude oil and natural gas within China.
It also produces several
biofuel
Biofuel is a fuel that is produced over a short time span from biomass, rather than by the very slow natural processes involved in the formation of fossil fuels, such as oil. According to the United States Energy Information Administration ...
s such as
biodiesel
Biodiesel is a form of diesel fuel derived from plants or animals and consisting of long-chain fatty acid esters. It is typically made by chemically reacting lipids such as animal fat ( tallow), soybean oil, or some other vegetable oi ...
and green jet fuel, from waste vegetable oil. It also produces
ethanol
Ethanol (abbr. EtOH; also called ethyl alcohol, grain alcohol, drinking alcohol, or simply alcohol) is an organic compound. It is an alcohol with the chemical formula . Its formula can be also written as or (an ethyl group linked to a ...
.
References
External links
China Petrochemical Corporation
{{authority control
Sinopec
Holding companies of China
Oil companies of China
Government-owned companies of China
National oil and gas companies
Petrochemical companies
Energy companies established in 1998
Non-renewable resource companies established in 1998
Chinese companies established in 1998
Dongcheng District, Beijing