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Sinopec

China Petroleum & Chemical Corporation, or Sinopec Ltd, is a Beijing-based oil and gas company which is listed in Hong Kong, Shanghai and New York (NYSE: SNP). It is one of the world’s biggest companies by revenue. Sinopec Ltd’s parent, Sinopec Group is one of China’s biggest petroleum groups.

Chairman / President

Ma Yongsheng

CEO / Managing Director

Zhao Dong

CFO / Finance Director

Zhang Shaofeng

Industry

Oil and gas

Website

english.sinopec.com

Headquarters address

22 Chaoyangmen North Street, Chaoyang District Beijing,China.

Stock Code

SSE:600028
SEHK:0386
NYSE:SNP
LSE:SNP

Year founded

2000

last updated:

15 October, 2024

Green hydrogen is the most promising fuel for power plants not only in China but worldwide. Photo: Shutterstock

Climate change

Opinion | For China, choosing green hydrogen over shale gas should be a no-brainer

Fracking is technically challenging, expensive and polluting. Much better to devote more resources to green hydrogen.

27 Oct 2024 - 4:30PM

China stock market

Sinopec leads 23 firms in China’s US$1.55 billion stock buy-back rush

21 Oct 2024 - 4:15PM

Australia

East Timor approaches China’s Sinopec over US$65 billion gas project

9 Oct 2024 - 3:04PM

China economy

Opinion | The problem with China’s oil habit is not supply but demand

Drilling for deep-sea, offshore oil entails high costs and fracking carries unique challenges. Ultimately, China must drastically cut oil use.

28 Jul 2024 - 10:47AMvideocam

China’s largest self-operated offshore oilfield, Suizhong 36-1, has become its first offshore oilfield to produce over 100 million tonnes of crude oil, operator CNOOC said last month. The oilfield in Bohai Bay boasts a daily production of over 8,900 tonnes. Photo: CNOOC

Hong Kong environmental issues

Explainer | Will hydrogen fuel Hong Kong’s drive towards net zero by 2050?

The Post examines whether new government strategy will make hydrogen a fuel of the future and help city reach net zero carbon emissions by 2050.

18 Jun 2024 - 9:01PM

Commodities

China’s oil refiners are slowing down after decades of growth

A prolonged property crisis has weighed on China’s economy this year, while the steady uptake of new-energy vehicles and trucks powered by gas are flashing bearish signs for future oil demand.

14 Jun 2024 - 11:45AM

Sri Lanka

Sri Lanka’s Hambantota port debunks Chinese debt trap narrative with success

The port has become a thriving transshipment hub in the Indian Ocean particularly for vehicles, with a turnover of 700,000 units a month.

4 May 2024 - 9:55AMvideocam

A Cosco Shipping vessel at Hambantota port, Sri Lanka. Photo: Kalinga Seneviratne

Business of climate change

Energy giants Sinopec and BP to strengthen ties in China

Sinopec and BP will strengthen cooperation in areas including fuel sales, oil and gas trading, marine fuel and upstream activities. The partnership will open new opportunities in China’s low-carbon sector.

18 Jan 2024 - 7:15PM

Business of climate change

China to lead global oil demand growth in 2024 to feed reviving economy

China is expected to be the top consumer of oil in 2024 and to account for more than a quarter of new oil demand globally, energy experts say.

12 Jan 2024 - 6:00PM

Business of climate change

China’s world-leading green hydrogen project faces slow ramp up

The world’s largest green hydrogen project will take nearly two years longer to reach full capacity as operator Sinopec struggles with the technology seen as important to cutting emissions from heavy industry.

3 Jan 2024 - 5:24PM

Hydrogen storage tanks stand at Sinopec’s Kuqa project, in the Xinjiang Uygur Autonomous Region of China, on August 30, 2023. Photo: Getty Images

Energy

China’s Sinopec signs second 27-year natural gas supply deal with Qatar

Doha will supply 3 million tonnes of natural gas a year under the deal, QatarEnergy said.

5 Nov 2023 - 5:20PM

A liquefied natural gas carrier is berthed at Sinopec’s Tianjin LNG receiving station for unloading operations on October 21, 2022. Photo: Xinhua

Ukraine war

Ukraine puts China’s three biggest oil producers on a ‘sponsors of war’ list

CNOOC Group, Sinopec Group and CNPC were added to the Ukrainian government’s register, which Kyiv claims is used by banks and insurance companies for risk assessments.

4 Oct 2023 - 1:52AM

Business of climate change

Chinese state oil companies falling short on climate pledges: Carbon Tracker

Sinopec, PetroChina and CNOOC have not fulfilled the minimum requirements to align with the Paris Agreement and continue ‘to put investors at risk’, according to the think tank.

10 Sep 2023 - 2:05PMvideocam

Energy

Oil giant Sinopec eyes overseas expansion as Chinese demand approaches peak

China’s Sinopec is setting up a new entity to invest in refinery and petrochemical assets overseas in a bid to leverage its expertise and deep pockets to expand globally as local Chinese oil demand nears a plateau.

31 Aug 2023 - 3:57PMvideocam

Sinopec will ‘expand overseas refining and chemical business by taking full advantage of the group’s core strength’, said Zhao Dong, president of parent company, China Petrochemical Corp. Photo: Reuters

Hong Kong company reporting season

Sinopec’s interim profit falls as economic woes crimp oil demand

Domestic sales of refined oil products at Sinopec rose 18 per cent in the first six months from the previous year, when residents in megacities were completely locked down for months on end

27 Aug 2023 - 6:44PM

Models displayed at the booth of Chinese oil company Sinopec during the China International Fair for Trade in Services (CIFTIS) in Beijing on September 1, 2022. Photo: Reuters

Electric & new energy vehicles

Chinese petchem makers shift to chemicals used in solar panels, EV batteries

Chinese firms like Sinopec, Wanhua Chemical and Zhejiang Petrochemical are moving from basic petrochemicals to making higher value products used in energy transition products.

24 Jul 2023 - 3:17PMvideocam

Commodities

Chinese oil giants’ clash in Middle East oil market puzzles traders

The biggest opposing positions in Middle East crude trading in years by the trading units of PetroChina and Sinopec have transformed global cargo flows and puzzled oil traders globally.

27 Jun 2023 - 10:31AMvideocam

Business of climate change

Sinopec’s parent to build China’s first long-distance hydrogen pipeline

The ‘west-to-east’ demonstration pipeline will stretch over 400km from Inner Mongolia to Beijing, according to China Petrochemical Corp.

10 Apr 2023 - 7:32PM

Signage for Sinopec at a gas station in Hong Kong. Photo: Bloomberg

Saudi Arabia

China, Saudi Arabia consolidate energy ties amid doubts over Russian supplies

A landmark US$10 billion deal for a state-of-the-art refining complex in Liaoning province could be just the beginning, analysts say, as Beijing looks to shore up energy security and Riyadh hunts for a ‘win-win’ supply agreement.

28 Mar 2023 - 1:44PM

Climate change

Opinion | How does Uganda oil project live up to China’s biodiversity pledge?

China should stop state firms from investing in projects such as the East African Crude Oil Pipeline, which threaten biodiversity and local livelihoods.

25 Dec 2022 - 5:00PM

US-listed Chinese stocks

China’s Sinopec set to delist from London just a month after NYSE exit

Sinopec plans to delist from London Stock Exchange on November 1, with market observers saying that other mainland Chinese companies could exit overseas markets amid rising political and economic risks.

3 Oct 2022 - 3:30PM

China Petroleum & Chemical, widely known as Sinopec, is the world’s largest oil refiner by capacity. Photo: AP Photo

Hong Kong stock market

Alibaba, JD.com fuel best stock rally since April on fresh China stimulus

Hong Kong stocks surged by the most in four months after China unveiled new stimulus to shore up the economy. Fresh speculation on US delisting matters emerged, lifting tech firms.

25 Aug 2022 - 5:02PMvideocam

People walk in front of the large screen showing the latest stock exchange data in Shanghai on August 22. Photo: EPA-EFE

US-listed Chinese stocks

More Chinese state-owned firms will delist from US, analysts say

The voluntary delisting of five SOEs including Sinopec and PetroChina from the New York Stock Exchange could pave the way for further exits, according to analysts.

16 Aug 2022 - 8:47AMvideocam

‘Difficult to handle’ blaze at Shanghai Sinopec plant kills one

Roaring fire at one of China’s biggest refining and petrochemicals plants started around 4am.

18 Jun 2022 - 1:15PM

China trade

Exclusive | Saudi Arabia ‘committed’ to China oil supply, exploring other collaborations

Saudi economic minister Faisal al-Ibrahim says the Gulf state is committed to being a reliable energy supplier for China and the world, as rising oil prices contribute to concerns about stagflation.

31 May 2022 - 6:16AMvideocam

China bought 87.6 million metric tonnes of crude oil last year from Saudi Arabia, its largest source of energy imports. Photo: AFP

Coronavirus pandemic

Sinopec sees return of fuel demand as Covid-19 lockdowns ease

The petroleum and chemical giant expects demand to recover during the second quarter, after Covid-19 lockdowns deflated demand in recent weeks. The outlook comes as the company reported 27 per cent year-on-year profit growth for the first three months.

28 Apr 2022 - 2:49PMvideocam

A pump attendant refuelled a car at a Sinopec gas station in Beijing on February 28, 2020. Photo: Reuters

Ukraine war

Sinopec says Russian investments ‘going well’, reports doubled net profit

China’s largest oil refiner has put on a brave face with its Russia investments amid Western sanctions, after its 2021 net profit more than doubled to its highest level in a decade.

28 Mar 2022 - 3:00PMvideocam

Ukraine war

China’s Sinopec ‘pauses Russia projects, as Beijing wary of sanctions’

The state-run group has suspended talks for a major petrochemical investment and a gas marketing venture, amid mounting sanctions over the invasion of Ukraine.

28 Mar 2022 - 10:26AMvideocam

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