Profile: China Petroleum & Chemical Corp (SNP.N)
11 Mar 2014
China Petroleum & Chemical Corporation (Sinopec Corp.) is an energy and chemical company. The Company through its subsidiaries engages in oil and gas and chemical operations in the People’s Republic of China (PRC). 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. Chemical operations include the manufacture and marketing of a range of chemicals for industrial uses. The Company operates in four business segments: exploration and production segment, refining segment, marketing and distribution segment and chemicals segment, and corporate and others.
Exploration and Production
The crude oil and a small portion of the natural gas produced by the exploration and production segment are used for the Company’s refining and chemical operations. The natural gas and a small portion of crude oil produced by the Company were sold externally to other customers. During 2009, this segment sold 40.24 million tons of crude oil and 7.03 billion cubic meters of natural gas.
The Company’s business activities of the refining segment include purchasing crude oil from third parties or from the exploration and production segment of the Company and processing crude oil into refined products, selling gasoline, diesel and kerosene to the marketing and distribution segment of the Company, selling a portion of feedstock oil to the chemicals segment of the Company, and selling other refined petroleum products to both domestic and overseas customers.
Marketing and Distribution
The Company’s marketing and distribution segment is engaged in the business of purchasing refined oil products from the refining segment and third parties, conducting wholesale and direct sales to domestic customers and retailing, distributing oil products through the segment’s retail and distribution network, as well as providing related services.
The Company’s chemical segment is involved in purchasing chemical feedstock from the refining segment and third parties. It is also engaged in producing, marketing and distributing petrochemical and inorganic chemical products.
Corporate and Others
The business activities of corporate and others segment mainly consist of import and export business of the Company’s subsidiaries, research and development activities of the Company. It also includes administrative activities of its headquarter.
China Petroleum & Chemical Corp
Chaoyangmen North Street
BEIJING BEJ 100728
Company Web Links
- Sinopec open to foreign investors in retail arm revamp - Xinhua
- Sinopec lifts China H-shares, cuts their weekly losses
- Sinopec, PetroChina shares outperform sluggish China, Hong Kong markets
- UPDATE 1-China's CNPC to open six business areas to private investors
- Sinopec targets lower prices for crude in cost-saving plan -sources