China Petroleum and Chemical Corporation (“Sinopec
Corp.”) is an integrated energy and chemical company.
The principal operations of Sinopec Corp. includes: exploring,
developing, producing and trading crude oil and natural
gas; processing crude oil; producing, trading, transporting,
distributing and marketing refined oil products; and producing
and distributing chemical products. Its major physical assets
are located in South and East China, an area that has experienced
the highest economic growth in China.
Based on 2005’s turnover, Sinopec is the largest listed company
in China.
Since its IPO, through continuous reform and development,
Sinopec Corp. has set up a corporate framework adapted to
market economy and corporate governance. The portfolio
and quality of its integrated energy and chemical assets have
been significantly upgraded, which have resulted in expanded
scale of operations, enhanced profitability and competitiveness.
China Petrochemical Corporation, whose core
assets are represented by Sinopec Corp., ranks 23rd in 2006
Global Fortune 500.