Full Description

China Petroleum & Chemical Corporation (Sinopec Corp.) is an energy and chemical company that, through its subsidiaries, engages in oil and gas and chemical operations in the People’s Republic of China. Its principal operations include exploring for and developing, producing and marketing of crude oil and natural gas; refining of crude oil and marketing and distribution of refined petroleum products, including transportation, storage, trading, import and export of petroleum products, and production and sales of petrochemical products. It operates in four segments: exploration and production segment, refining segment, marketing and distribution segment and chemicals segment, and a corporate and others. As of December 31, 2008, it held 190 production licenses with an aggregate acreage of 18,096 square kilometers and with terms ranging from 10 to 80 years. As of December 31, 2008, it operated 16 oil and gas producing fields. On August 18, 2009, it acquired Addax Petroleum Corporation.