China Petroleum & Chemical Corporation (hereafter referred to as “Sinopec”) is a publicly listed company 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, pursuant to the Company Law of the People's Republic of China. Sinopec issued 16.78 billion H shares in Hong Kong, New York and London on Oct. 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% is held by the State through Sinopec Group, 6.2% by domestic banks and assets management companies (AMCs), 19.35% by H share holders and 3.23% by investors at home.

Sinopec is an integrated energy and chemical company. The scope of its 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. It is China’s largest producer and supplier of oil products (including gasoline, diesel and jet fuel, etc.) and major petrochemical products (including petrochemical intermediates, synthetic resin, synthetic fiber monomers and polymers, synthetic fiber and chemical fertilizer). It is also the 2nd largest crude oil producer. By end 2005, the Company’s remained proved recoverable oil reserve is 3294 mmbbls, proved recoverable natural gas reserve is 2951.7 bcf. The Company’s crude primary processing capacity was 160 million tons, ethylene production capacity 5.395 million tons. It has 29,647 service stations among which 27,367 are self-owned and operated. The Company produced 39.27 million tons of crude oil and 6.3 billion cubic meters of natural gas. Refining throughput hit 140 million tons with oil product output 84.52 million tons (gasoline, kerosene and diesel). The Company also produced ethylene 5.32 million tons, synthetic resin 7.61 million tons, synthetic rubber 0.63 million tons, synthetic fiber monomers and polymers 6.72 million tons, and synthetic fiber 1.57 million tons. The annual sales volume of oil products reached 105 million tons in which retail hit 63.52 million tons.

Following international modes, Sinopec has set up a standardized structure of corporate governance and adopted a management system of centralized decision-making, delegated authorities in management and business operations handled by specialized business units. It has more than 80 subsidiaries and branches including wholly-owned, equity holding and equity participating companies, engaging in oil and gas exploration and production, refining, chemicals, marketing, R&D and foreign trade.

Sinopec will fully implement the scientific outlook on development. While sticking to the business philosophy of competition and openness, the Company will adopt the development strategy of resource and market expansion, cost reduction, profitability improvement and prudent investment. It is the Company’s business tenet to maximize profits and shareholders’ returns. Moreover, the operating mechanism featuring market-orientation externally and synergy-driven internally shall be realized. Holding the operating principle of standardization, discipline and integrity, Sinopec will strive to develop itself into a multinational corporation with prominent core business, quality assets, innovative technologies, professional management and sound financial practice.

China Petrochemical Corporation, the sole initiator of Sinopec, is a super-large petroleum and petrochemical group restructured and established by the State in 1998 on the basis of the former China Petrochemical Corporation. It is a state-owned company invested by the State, functioning as a state-authorized investment institution in which the State holds the controlling share.

Website：http://www.sinopec.com.cn