Profile: China Petroleum & Chemical Corp (SNP)
1 Jul 2016
China Petroleum & Chemical Corporation, incorporated on February 25, 2000, is an energy and chemical company. The Company is engaged in oil and gas and chemical operations in the People's Republic of China (the PRC). The Company's oil and gas operations consist of exploring for, developing and producing crude oil and natural gas; transporting crude oil and natural gas by pipelines; refining crude oil into finished petroleum products, and marketing crude oil, natural gas and refined petroleum products. Its chemical operations include the manufacture and marketing of a range of chemicals for industrial uses. The Company's segments include exploration and production segment, refining segment, marketing and distribution segment, chemicals segment, and corporate and others. Its products include Intermediate Petrochemicals, such as Ethylene, Propylene, Benzene, Styrene, Para-xylene and Phenol; Synthetic Resins, such as Polyethylene, Polypropylene, Polyvinyl chloride, Polystyrene and Acrylonitrile butadiene styrene; Synthetic Fiber Monomers and Polymers, such as Purified terephthalic acid, Ethylene glycol, Acrylonitrile, Caprolactam and Polyester
Synthetic Fibers, such as Polyester fiber and Acrylic fiber, and Synthetic Rubbers, such as Cis-polybutadiene rubber, Styrene butadiene rubber, Styrene-butadiene-styrene thermoplastic elastomers, Isobutylene isoprene rubber, Isoprene rubber and Ethylene propylene rubber.
The Company holds approximately 200 production licenses in China, with an aggregate acreage of over 25,750 square kilometers and with terms ranging from 10 to 80 years. The Company holds approximately 270 exploration licenses in China for various blocks in which it is engaged in exploration activities, with an aggregate acreage of over 857,420 square kilometers and with term of approximately seven years. The Company operates approximately 10 oil and gas production fields in China, each of which consists of many oil and gas producing fields and blocks.
Exploration and Production
The Company's exploration and production segment consists of its activities related to exploring for and developing, producing and selling crude oil and natural gas. It sells such products to the Company's refining segment and external customers.
The Company's refining segment processes and purifies crude oil, which is sourced from the Company's exploration and production segment, and external suppliers. It also manufactures and sells petroleum products to the Company's chemicals, and marketing and distribution segments, and external customers. The Company purchases crude oil from third parties, and the exploration and production segment of the Company. It processes crude oil into refined petroleum products, which include gasoline and diesel.
Marketing and Distribution
The Company's marketing and distribution segment owns and operates oil depots and service stations in the PRC. The Company also distributes and sells refined petroleum products, mainly gasoline and diesel, in the PRC through wholesale and retail sales networks.
The Company's chemical segment manufactures and sells petrochemical products, derivative petrochemical products and other chemical products to external customers. The Company purchases chemical feedstock from its refining segment and third parties, producing, marketing and distributing petrochemical and inorganic chemical products. Its products include basic organic chemicals and chemical fertilizer.
Corporate and Others
The Company's corporate and others segment consists of the trading activities of the import and export companies of the Company's subsidiaries. It also includes research and development undertaken by other subsidiaries.
China Petroleum & Chemical Corp
Chaoyangmen North Street
BEIJING BEJ 100728
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