China Petroleum & Chemical Corp. SNPMF

What this company does

China Petroleum & Chemical Corporation explores for, develops and produces crude oil and natural gas, refines crude oil and markets and distributes refined oil products, and produces and sells petrochemical products. It operates 251 oil and gas producing fields and blocks. As of December 31, 2022, it held 351 production licenses in China, covering an aggregate acreage of 38,937 square kilometers. Its refinery throughputs were approximately 242.27 million tonnes in 2022. It runs 29 refineries in China, whose comprehensive processing capacity of oil refining was 287.25 million tonnes per annum as of December 31, 2022. Its retail sales are made through a network of service stations and petroleum shops operated under the Sinopec brand. In chemicals, it produces and distributes intermediate petrochemicals, synthetic resins, synthetic fiber monomer and polymers, synthetic fibers and synthetic rubber. It was established as a joint stock limited company on February 25, 2000 under the Company Law of the PRC, with Sinopec Group Company as the sole shareholder at its inception.

Written from the business description in CHINA PETROLEUM & CHEMICAL CORP's annual report to the U.S. Securities and Exchange Commission, filed 28 April 2023. Every sentence was checked against that document before publication.