China Petrochemical Corporation
China Petrochemical Corporation, also known as Sinopec Group.
China Petrochemical Corporation (commonly referred to as Sinopec Group) is a super-large petroleum and petrochemical enterprise group established in July 1998 through the restructuring of the former China National Petroleum and Chemical Corporation. It is a state-owned company wholly owned by the state, an institution authorized by the state to make investments, and a state-controlled company. Sinopec Group has a registered capital of 130.6 billion yuan, with the general manager serving as its legal representative. Its headquarters are located in Beijing. As of the end of 2007, Sinopec’s total share capital stood at 86.7 billion shares, of which Sinopec Group held 75.84%, foreign-invested shares accounted for 19.35%, and domestic public shares made up 4.81%. In 2010, Sinopec’s net profit reached 70.7 billion yuan.
Shanghai Lan Jian is a Tier-1 supplier of the China National Petroleum Corporation and ranks first among suppliers under the framework agreement.
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