Entity

China Petroleum & Chemical Corporation (中国石油化工股份有限公司), commonly known as Sinopec Corp., is a vertically integrated energy and chemical company headquartered at 22 Chaoyangmen North Street, Chaoyang District, Beijing, China. It is the world's largest oil refiner by capacity, processing 250.33 million metric tonnes (~5 million barrels per day) of crude oil in 2025. It is majority-owned by China Petrochemical Corporation (Sinopec Group), which is in turn 100% state-owned and controlled by SASAC (State-owned Assets Supervision and Administration Commission of the State Council).

Corporate Structure

Sinopec Corp. was incorporated on 25 February 2000 by China Petrochemical Corporation as the sole initiator. It is listed on three exchanges:

• H shares: Hong Kong, New York (NYSE), and London Stock Exchanges (listed October 2000)

• A shares: Shanghai Stock Exchange (listed August 2001)

It operates more than 100 subsidiaries and branches, including wholly-owned, equity-holding, and equity-sharing companies. Its business assets and principal markets are concentrated in the east, south, and central regions of China.

Business Segments

Scale & Market Position

• Largest oil refiner in China and the world by capacity

• Largest supplier of refined oil products in China

• No. 1 in ethylene production capacity in China

• Operations in 76 countries and regions, with approximately 845,000 employees

• Consistently ranked in the top 5 of the Fortune Global 500; first Chinese company to enter the Fortune Global 500 top three

2025 Financial Results

The sharp profit decline in 2025 was driven by lower crude oil prices, weak petrochemical margins, and falling refined product prices — partially offset by improved refining margins for by-products (sulphur, petroleum coke) and strong growth in aviation kerosene (+7.3%) and ethylene output.

Upstream Operations (2025)

• Domestic crude oil output: 255.75 million barrels (+0.7% YoY)

• Overseas crude oil output: 26.65 million barrels

• Natural gas production: 1.46 trillion cubic feet (+4% YoY)

Strategic Priorities

Sinopec Corp. is pursuing a "One Core, Two Wings" transformation strategy, centred on its core oil & gas and refining-chemicals business, with two strategic extensions into new energy (hydrogen, LNG, renewable fuels) and new materials (high-performance polyolefins, EVA, SEBS, metallocene resins). It maintains the national lead in both LNG refuelling and hydrogen refuelling infrastructure. The company is also investing heavily in carbon capture and green hydrogen, with the stated goal of becoming a world-class clean energy and chemical company.

Key Operating Data — Refining & Chemicals

• Refinery throughput forecast 2026: ~250 million t (stable)

• Kerosene output: 33.71 million t in 2025, +7.3% YoY

• Chemical light oil production: +8.4% YoY

• External chemical product revenue: ¥378 billion (−9.6% YoY, mainly due to price declines)

References

• Sinopec Corp. — Our Company (last retrieved June 2026)
• Sinopec Corp. — 2025 Annual Results Announcement (Mar 2026)
• Sinopec Group — Sinopec Releases 2025 Annual Report (Mar 22, 2026)
• Reuters — China's Sinopec posts 36.8% drop in 2025 net profit on weak petrochemical margins (Mar 22, 2026)
• China Daily — Sinopec reports year's profit to shareholders (Mar 23, 2026)
• Business Times — Sinopec posts 36.8% drop in 2025 net profit on weak petrochemical margins (Mar 21, 2026)
• Fitch Ratings — China Petroleum & Chemical Corporation (Sinopec) (Nov 2023)
• Wikipedia — Sinopec (last retrieved June 2026)