BIZCHINA / Energy & Mining |
Sinopec(www.sinopec.com)Updated: 2006-11-21 15:16 Sinopec http://english.sinopec.com/index.jsp China Petroleum & Chemical Corporation (Sinopec) is a publicly listed company both at home and abroad with integrated upstream, midstream and downstream operations, prominent core businesses and a complete marketing network. The Company was set up on February 25, 2000 by China Petrochemical Corporation (Sinopec Group) as the sole sponsor. Sinopec issued 16.78 billion H shares in Hong Kong, New York and London on October 18th and 19th, 2000. The Company floated 2.8 billion A shares in Shanghai Stock Exchange on July 16th, 2001. The Company¡¯s existing total number of shares is 86.702 billion, of which 71.23 percent is held by the State through Sinopec Group, 6.2 percent by domestic banks and assets management companies (AMCs), 19.35 percent by H share holders and 3.23 percent by investors at home. Sinopec¡¯s business mainly covers oil and gas exploration, development, production and marketing; oil refining; production and sales of petrochemicals, chemical fibers, chemical fertilizers and other chemical products; storage and pipeline transportation of crude oil and natural gas; import, export and import/export agency business of crude oil, natural gas, refined oil products, petrochemicals, chemicals, and other commodities and technologies; research, development and application of technology and information. The company is China¡¯s largest producer and supplier of oil products and major petrochemical products. It is also the 2nd largest crude oil producer. It has more than 80 subsidiaries and branches engaged in oil and gas exploration and production, refining, chemicals, marketing, R&D and foreign trade. (For more biz stories, please visit Industry Updates) |
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