Sinopec Group (中国石油化工集团)
Fast facts
- Year Founded
- 1983
Source: Sinopec Websitewww.sinopecgroup.com/group/gsjs/gsgk/
- HQ Location
- Beijing, China
- Publicly Traded?
- No
Source: Sinopec 2019 Annual Reportwww.sinopec.com/listco/en/Resource/Pdf/2020042310.pdf
- Overseas Operations
- Yes
Sinopec has over 51 overseas oil and gas exploration and production projects in 25 countries, including Canada, Angola, the U.S., Cameron, Qatar, Russia, and Egypt. In 2019, the company produced 33.79 mln tonnes of crude oil and 10.7 billion m3 of natural gas from its overseas operations. The company also has overseas refining and chemical businesses in 15 countries including Oman, Uzbekistan. Sinopec also has a market presence in key oil markets including Saudi Arabia, Kuwait, Ecuador, and Algeria.Source: Sinopec Websitewww.sinopecgroup.com/group/en/business/InternationalTrade2012/
- US Sanctions
- No
- Military Affiliation in China
- No
Revenue
Source: Sinopec 2020 Annual Reportwww.sinopec.com/listco/en/investor_centre/reports/2020/20210415/news_20210415_623336872139.shtml
Valuation
Valuation is reported as enterprise value in RMB. It was converted using the exchange rate from November 11, 2021.Source: Yahoo Financefinance.yahoo.com/quote/0386.HK/key-statistics
*Valuation is reported as enterprise value in RMB. It was converted using the exchange rate from November 11, 2021.
Employees
Source: Sinopec 2020 Annual Reportwww.sinopec.com/listco/en/investor_centre/reports/2020/20210415/news_20210415_623336872139.shtml
Sinopec Group, or China Petrochemical Corporation, is China’s largest supplier of oil and petrochemical products and its second-largest oil and gas producer. It is also the largest refining company and the third-largest chemical company in the world.
The state-owned corporation conducts petroleum and natural gas exploration, production, storage, transportation, sales, and comprehensive utilization. Its businesses also include industrial investment, investment management, coal production, oil refining, oil product retail, and wholesale. It also manufactures electrical and mechanical equipment and produces and sells electricity.
Source: Sinopec Websitewww.sinopecgroup.com/group/en/companyprofile/AboutSinopecGroup/
Sinopec is publically traded on four markets in Shanghai, Hong Kong, New York, and London. China Petrochemical Corporation is 100% controlled by the State-Owned Assets Supervision and Administration Commission of the State Council.
Source: Sinopec 2019 Annual Reportwww.sinopec.com/listco/en/Resource/Pdf/2020042310.pdf
-
- Name
- Ownership
-
- SASAC
Source: Qichachawww.qcc.com/firm/de6c3a84832e3158a24b0587c2b9970d.html
- 100%
- SASAC
- Zhang Yuzhuo, Chairman
- Ma Yongsheng, Director and President
- Yu Baocai, Director and Vice President
- Liu Hongbin, Director and Senior Vice President
- Ling Yiqun, Director and Senior Vice President
- Zhang Shaofeng, Director
- Tang Min, Independent Non-Executive Director
- Cai Hongbin, Independent Non-Executive Director
- Kar Ling Johnny Ng, Independent Non-Executive Director
Source: Sinopec Websitewww.sinopec.com/listco/Ebout_sinopec/our_company/board_of_directors/
Sinopec has over 51 overseas oil and gas exploration and production projects in 25 countries, including Canada, Angola, the U.S., Cameron, Qatar, Russia, and Egypt. In 2019, the company produced 33.79 mln tonnes of crude oil and 10.7 billion m3 of natural gas from its overseas operations. The company also has overseas refining and chemical businesses in 15 countries including Oman, Uzbekistan. Sinopec also has a market presence in key oil markets including Saudi Arabia, Kuwait, Ecuador, and Algeria.
Source: Sinopec Websitewww.sinopecgroup.com/group/en/business/InternationalTrade2012/
Sinopec Group Sanctions
While at this time it appears that this company is not the subject of any U.S. or other global sanctions, it is important to note that Chinese companies tend to have more opaque organizational structures than their Western peers. Chinese companies’ affiliated brands, operating units, and overseas subsidiaries are not always obvious or even identifiable. Given this, a Chinese company may not be the subject of sanctions, but one of its subsidiaries may be, thus making it difficult to accurately ascertain a company’s full sanctions status.
Sinopec Group Reputational Disclosures
Sinopec and Venezuala’s state oil company had a five-year-long dispute on a $43.5mln contract in a U.S. district court between 2012 and 2017. The case was settled in December 2017.
Sinopec was investigated by U.S. authorities over an allegations of $100 mln worth of bribery in Nigeria in 2017.
Source: Financial Timeswww.ft.com/content/c6a15e81-c2a8-3574-9a1b-7257eb529daeSource: Bloombergwww.bloomberg.com/news/articles/2017-08-30/sinopec-is-said-to-be-probed-by-u-s-over-nigeria-payments
The latest news on Sinopec Group from across the web
Sinopec's vision under China's carbon peak & neutrality goals
From the Tsinghua PBCSF Economic Forum on Carbon Neutrality
Energy Insider: China Encourages EV Charging Stations; Sinopec Kicks Off New Materials Center in Tianjin
Wind power capacity jumps as authorities vow to put more turbine-generated electricity online; crude steel output sets a record
Sinopec Doubles Down on Hydrogen Despite Demand Drought
Company to target 1,000 fuel-cell refilling stations in coming years, even as vehicles sales remain miniscule
Sinopec Rubber Factory Goes Up in Flames
Production capacity at the Nanjing plant accounts for 6% of the nation’s total
Sinopec Looks Beyond Oil for Growth With Hydrogen Investment
Unit of state-owned oil giant signs on to develop technology to produce the clean fuel through electrolysis
China and Iran flesh out strategic partnership
Staggered 25-year deal could mark seismic shift in the global hydrocarbons sector
PetroChina's 2018 Shale Gas Output Up 40% on Year
PetroChina operates Changning-Weiyuan and Zhaotong projects in Sichuan basin.
Sinopec Expects Profit as Covid Outbreak Eases, Oil Prices Rise
Energy giants China Petroleum and Chemical Corp. and PetroChina Co. both forecast a sharp improvement in net income for the first half of 2021 thanks to stronger crude oil prices as the Covid-19 crisis eased and the global economy improved.
China's Sinopec targets 500,000 T of 'green' hydrogen capacity by 2025
China’s state-controlled energy giant Sinopec aims to set up plants that can make 500,000 tonnes of hydrogen a year from renewable energy sources by 2025, a company executive said at a forum on Wednesday.
China's Sinopec plans record LNG imports to battle cold snap
Sinopec Corp pledged on Tuesday to maximise domestic gas productions and raise imports of liquefied natural gas (LNG) to record rates as a cold spell hitting large parts of the country this week lifts demand for the winter heating fuel.
China's Sinopec posts record quarterly profit as refining margins jump
Top Asian oil refiner Sinopec Corp swung to a record quarterly profit in July-September, thanks to a jump in refining margins and earnings from the spin-off of pipeline assets, the company said.
China's Sinopec starts ethylene production at new Zhanjiang refinery
China’s Sinopec has started operation of a 800,000 tonne-per-year ethylene facility at its Zhanjiang refinery, the company said in a statement on Monday.
China names new president at state oil and gas giant CNOOC | Upstream Online
Li Yong has left Sinopec as its vice president and rejoined CNOOC as president
Sinopec Records Net Profit RMB 57.5 Billion in 2019
/PRNewswire/ — China Petroleum & Chemical Corporation (“Sinopec Corp.” or the “Company”) (HKEX: 386; SSE: 600028; NYSE: SNP) today announced its annual…
Sinopec expects lower 2020 refining runs as coronavirus hits demand
Asia’s top refiner China Petroleum Chemical Corp, or Sinopec, expects its full-year 2020 refining runs will be lower than in 2019 because of a contraction in Chinese fuel demand caused by the coronavirus outbreak.
China's Sinopec Said to Support Trans-Caspian Plan
The state-owned oil company reportedly backs pipeline route that Russia opposes.
Shell enters China's shale oil scene with joint study with Sinopec
Royal Dutch Shell has entered China’s shale oil sector, signing an agreement with state-owned Sinopec to study an East China block, part of the nation’s early efforts to unlock the potentially massive unconventional resource.
Why Would a Chinese Insurance Giant Want to Own a Gas Pipeline?
China’s promised market reforms are increasingly looking more like spreading risk within the vast network of state-backed enterprises rather than taking it out altogether.
