China Petroleum & Chemical Corporation (Sinopec Group) Closed Now

China Petroleum & Chemical Corporation, better known as Sinopec Group, is one of the planet’s largest integrated energy and chemical enterprises, ranking 6th in the 2025 Fortune Global 500 list by revenue Wikipedia+8China Daily Government Services+8GlobalData+8. Operating under the oversight of China Petrochemical Corporation (the parent group established in 1998), Sinopec was formally incorporated in its current form in February 2000 China Daily Government ServicesWikipedia.

Sinopec undertakes comprehensive operations, including upstream oil and gas exploration and production; midstream pipeline and storage infrastructure; refining; petrochemical manufacturing; and distribution and retail across fuels, synthetic fibers, and industrial chemicals GlobalDataGlobalData. It also diversifies into new energy domains, such as hydrogen, solar, wind and geothermal power R&D and projects, aligning with China’s broader energy transition strategy GlobalDataReuters.

In 2024, Sinopec generated revenues around US $427–430 billion, making it the second-highest Chinese company in ranking, just behind CNPC and State Grid infographicsite.comde.wikipedia.orgGlobalData. The company employs nearly 375,000 people globally as of the latest data (2022–23), and represents a major pillar of China’s state‑owned energy and industrial ecosystem esg.hkubs.aiWikipedia.

Sinopec is tackling the challenges of declining fuel consumption and low refining margins by accelerating investments in EV‑charging infrastructure, introducing clean energy service stations, and exploring hydrogen fuel and carbon capture technologies Reddit. It also plans global expansion, such as a fully‑owned refinery at Sri Lanka’s Hambantota port, positioning itself as a global refining-petrochemical major Reuters.

Governance is conducted under the State-owned Assets Supervision and Administration Commission (SASAC), with Sinopec’s operations including wholesale and retail fuel networks, engineering services, chemical production, and energy services China Daily Government Servicesemis.com. As China pivots toward decarbonization, Sinopec aims to integrate digital transformation across operations, sustainable energy offerings, and international investments.

Looking ahead, Sinopec’s priorities include adapting to EV adoption through nationwide charging networks, expanding chemical and hydrogen capabilities, strengthening global downstream presence, and maintaining resilience through diversification.