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, liq ...

, gas and petrochemical 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 variou ...

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 p ...

. It is headquartered at Chaoyangmenwai in

Beijing } Beijing ( ; ; ), alternatively romanized as Peking ( ), is the capital of the People's Republic of China. It is the center of power and development of the country. Beijing is the world's most populous national capital city, with over 21 ...

, across the road from the headquarters of fellow state-owned oil company and competitor CNOOC Group. 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 o ...

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, Sinopec was ranked as the 60th largest public company in the world. According to the

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, 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 (econom ...

in both China and the world, and second largest company in the world in terms of revenue, behind only American retail store chain Walmart.

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 sam ...

, China Petroleum and Chemical Corporation Limited, commonly referred to as " 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 repor ...

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 Exc ...

. 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 rubbe ...

, 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 biofuels such as biodiesel 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 h ...

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