China Petroleum & Chemical Corporation, commonly known as Sinopec, is one of the largest state-owned petroleum and petrochemical enterprises in the world. Founded in 1998, Sinopec operates in the energy sector, specializing in the exploration, extraction, refining, and sale of oil and gas, as well as chemical production. With its headquarters in Beijing, Sinopec is a major player in both domestic and international markets, supplying energy and chemical products to various industries.
Sinopec is renowned for its large-scale operations, including oil refining, chemical production, pipeline transportation, and the sale of petrochemical products. The company is committed to advancing its energy production while minimizing environmental impact, working toward a more sustainable energy future. Sinopec’s extensive research and development efforts have placed it at the forefront of technological innovations in the energy sector.
CEO and Founder of Sinopec
Sinopec was established in 1998 as part of the Chinese government's restructuring of the country’s oil and gas industries. It was formed from various state-run oil assets to create a more efficient and globally competitive company. The company is managed by a leadership team that reports to the Chinese government. As of 2024, Ma Yongsheng serves as the President of Sinopec Group. He has a strong background in geology and petroleum exploration and has led Sinopec's efforts toward sustainability, digital transformation, and international expansion.
List of Top Companies Under Sinopec
Sinopec has grown by acquiring and establishing companies in diverse sectors such as energy, chemicals, and engineering services. Below is a list of Sinopec's key subsidiaries, with their respective valuations and areas of expertise:
| Company Name | Year Acquired/Founded | Valuation | Industry |
|---|---|---|---|
| Sinopec Shanghai Petrochemical Co. | 1993 | $10 Billion | Petrochemical Production |
| Sinopec Engineering (Group) Co. Ltd. | 2012 | $5 Billion | Engineering & Construction |
| China International United Petroleum & Chemicals Co. (UNIPEC) | 1993 | $30 Billion | Crude Oil Trading |
| Sinopec Kantons Holdings | 1998 | $3 Billion | Oil Storage & Logistics |
| Sinopec Oilfield Service Corporation | 1982 | $4 Billion | Oilfield Services & Engineering |
| Sinopec Great Wall Energy and Chemical Co. | 2004 | $2 Billion | Coal Chemical Production |
| Sinopec Capital Co., Ltd. | 2018 | $2.5 Billion | Investment & Finance |
| Sinopec Sales Co., Ltd. | 2014 | $6 Billion | Oil Product Sales & Distribution |
FAQs About Sinopec
Q1: When was Sinopec founded, and by whom?
A: Sinopec was founded in 1998 by the Chinese government as part of its efforts to restructure the nation’s oil and petrochemical industries. It is a state-owned enterprise.
Q2: Who is the current CEO of Sinopec?
A: The current President of Sinopec is Ma Yongsheng, who has been instrumental in leading the company’s sustainability and digital transformation efforts.
Q3: What industries does Sinopec operate in?
A: Sinopec operates in the oil and gas exploration, refining, chemical production, and petrochemical industries. It is also involved in energy trading, engineering, and logistics.
Q4: What is the valuation of Sinopec?
A: Sinopec is one of the largest energy companies in the world, with a valuation of over $110 billion, and it ranks consistently among the top companies in the Fortune Global 500.
Q5: Does Sinopec have a global presence?
A: Yes, Sinopec has a significant global presence with operations in more than 60 countries, including oil and gas exploration, refining, and distribution services.
Q6: How is Sinopec contributing to sustainability?
A: Sinopec is investing heavily in renewable energy, clean energy technologies, and carbon reduction efforts to align with global environmental goals. It is committed to reducing emissions and enhancing energy efficiency.
