China Petroleum & Chemical Corporation, or Sinopec Ltd, is a Beijing-based oil and gas company which is listed in Hong Kong, Shanghai and New York (NYSE: SNP). It is one of the world’s biggest companies by revenue. Sinopec Ltd’s parent, Sinopec Group is one of China’s biggest petroleum groups.


Sinopec oil division chief Xue Wandong fired amid investigation

China's corruption watchdog had launched a series of inspections into state-owned enterprises and government bodies including Sinopec Group, the parent of Sinopec. Photo: Reuters

The president of Sinopec Group's oilfield services unit has been dismissed and is currently under investigation, mainland media reported yesterday.

Thursday, 4 December, 2014, 7:03pm

Sinopec seeks to commercialise geothermal energy

Beijing has imposed tougher emission rules on coal-fired power plants, giving the geothermal energy sector a boost. Photo: AP

China Petrochemical Corp is seeking to commercialise geothermal energy after spending about 1 billion yuan (HK$1.26 billion) in the past few years to develop more than 10 pilot projects on the mainland.

22 Oct 2014 - 5:21am

Sinopec offers master class in SOE mixed ownership reform

Sinopec offers master class in SOE mixed ownership reform

If you tried to tell any serious corporate managers that you were going to increase efficiency by bringing in 25 strategic investors you would be considered a joke.

28 Apr 2015 - 11:23am

Investors dump Sinopec shares on fuel unit deal

Sinopec's ability to secure commitment from 25 investors for the fuel unit stake shows the broad appeal of the business. Photo: Reuters

China Petroleum & Chemical (Sinopec) saw its shares drop 6.8 per cent yesterday after it agreed to sell 30 per cent of its fuel distribution unit to 25 investors for 107 billion yuan.

16 Sep 2014 - 3:23am

Sinopec sells 30pc stake in fuel unit for 107b yuan

The deals with the investors, mostly domestic fund firms outside the energy business, value Sinopec Sales at 357 billion yuan. Photo: Bloomberg

China Petroleum & Chemical (Sinopec), the country's second-largest oil and gas producer, has secured commitment from 25 investors to buy 30 per cent of its fuel distribution unit for 107 billion yuan.

15 Sep 2014 - 7:59am 1 comment

Sinopec chairman supports pay cuts for bosses of state-owned firms

Sinopec chairman Fu Chengyu has praised the Chinese socialist system for the reform that critics said may hurt executives’ incentives. Photo: Jonathan Wong

Sinopec chairman Fu Chengyu said he is happy to accept Beijing’s decision to cut pay and perks for most of the country’s top state-owned enterprise (SOE) leaders.

10 Sep 2014 - 4:26pm 2 comments

Sinopec unit books world’s largest ship to store crude

Soaring oil supplies and tumbling prices are prompting traders to store crude in volumes not seen since the financial crisis. Photo: AFP

A Chinese trading firm has booked the world's largest super-tanker to store crude at sea, adding to a growing flotilla of vessels used for floating storage as benchmark oil prices slip below US$100 a barrel.

10 Sep 2014 - 3:41am

Insurer China Life diversifies with bid for Sinopec retail unit

China Life in bid for Sinopec unit

China Life Insurance is seeking to diversify its investment portfolio by planning to invest in China Petroleum & Chemical Corp's (Sinopec) retail unit after reporting better-than-expected first-half earnings.

28 Aug 2014 - 5:03am

37 investors express interest in Sinopec petrol stations

Sinopec has received 37 non-binding expressions of interest from would-be investors in its open tender for up to 30 per cent of its fuel distribution operation. Photo: EPA

China Petroleum & Chemical (Sinopec) has received 37 non-binding expressions of interest from would-be investors in its open tender for up to 30 per cent of its fuel distribution operation.

26 Aug 2014 - 9:55am

Sinopec and Tencent consider collaboration

Tencent is in discussions with Sinopec parent China Petrochemical on potential co-operation. Photo: Reuters

Fu Chengyu, the chairman of China Petrochemical – parent of listed China Petroleum & Chemical (Sinopec) – has met internet giant Tencent Holdings president Martin Lau Chi-ping to discuss potential co-operation between the two firms.

22 Aug 2014 - 12:21pm

Ruentex pact paves way for Sinopec retail spin-off

Sinopec runs 30,500 petrol stations and has a 60 per cent share of the mainland's fuel retailing market by tonnage. Photo: AFP

Sinopec's pact with Ruentex Group last week will help the oil giant negotiate better terms with potential investors and business partners for the fuel retailing business that it plans to spin off on the stock market, analysts say.

4 Aug 2014 - 3:40am

Sinopec fires-quarter earnings drop to miss market target

Sinopec's first-quarter fuel distribution volume grew 0.05 per cent to 42.15 million tonnes while oil refining fell 2.5 per cent to 57.2 million tonnes. Photo: Xinhua

China Petroleum & Chemical (Sinopec), the nation's second-largest oil and gas producer, posted a worse-than-expected 14.9 per cent decline in first-quarter net profit.

29 Apr 2014 - 1:15am

Sinopec leads China's shale gas revolution with successful drilling

Sinopec has enjoyed initial success with the drilling completed at the 200 square kilometre pilot zone in the Fuling gas field in Chongqing. Photo: Xinhua

China Petroleum & Chemical (Sinopec)'s discovery of the Fuling field in Chongqing may have set a milestone for the mainland oil and gas industry's "shale gas revolution".

24 Apr 2014 - 2:37am 1 comment

Court to decide on arbitration ruling on Hans-Sinopec dispute

Sinopec was ordered to pay Hans a default payment of 607 million yuan.

A legal battle between privately-owned fuel storage facilities operator Hans Energy and state-backed giant China Petroleum & Chemical (Sinopec) is set to move to the court room in May.

18 Apr 2014 - 1:52am

Sinopec details sale plan of fuel unit

Sinopec chairman Fu Chengyu says strategic investors will be given priority in the sale of the fuel stations. Photo: Jonathan Wong

China Petroleum & Chemical (Sinopec) aims to complete by the third quarter a fund-raising exercise for its fuel marketing operations to help cut debt, fund shale gas development and fuel quality upgrade programmes.

25 Mar 2014 - 2:12am