China Petroleum Chemical Corporation deals with integrated downstream and upstream operations. The publicly listed company is also known as Sinopec Corp. It was incorporated on February 25, 2000, by Sinopec Group.
The company’s largest shareholder is Sinopec Group. It is a state-owned controlling company and is reportedly one of the largest petroleum groups in China.
The integrated energy firm is engaged in pipeline transportation, sale, exploration, and petrochemical and petroleum products. The diversified energy products include:
• Jet fuel
• Synthetic rubber
• Synthetic fiber
• Natural gas
• Coal chemical products
It is listed on domestic and international domestic stock exchanges, including the New York Stock Exchange and Hong Kong Stock Exchange. The stocks trade under the symbol ‘SNP on NYSE.
Its principal businesses include industrial management, storage and transportation, coal production, natural gas and petroleum exploration, sales, oil refining, retail and wholesale of oil products, transportation of petrochemical products, and petrochemical and petroleum equipment maintenance.
Sinopec Group is one of the largest petrochemical and oil products suppliers and is considered the second-largest gas and oil producer in China. In 2019, the group was also among the Fortune Global 500 List.
The integrated energy company’s products and services include:
• Household products: fuel cards, service station, LPG, lubricants,
• Commercial products: It consists of lubricants, catalysts, natural gas and chemical products.
• License: The company deal in research and development capabilities for petrochemicals and oil refining.
It also engages in production and exploration technology, chemical technology, utility engineering technology and refining technology. In addition, the integrated energy company claims to promote the integration of big data, internet and artificial intelligence across its business operations.
The company also claims to focus on the environment and corporate social responsibility, including low carbon emissions, green development, green enterprise action plan, etc.
The Chinese energy firm operates through various subsidiaries such as:
• SINOPEC Engineering
• SINOPEC Gas Company
• Sinopec Canada Energy Ltd
• Sinopec Sales Co Ltd
• Sinosky Energy (Holdings) Company Limited
• Henan Petroleum Exploration Bureau
• Shanghai Petrochemicals