What’s China Petroleum & Chemical Business Model?
China Petroleum & Chemical Corporation produces and trades petroleum and petrochemical products. The Company offers gasoline, diesel, jet fuel, kerosene, ethylene, synthetic fibers, synthetic rubber, synthetic resins, and chemical fertilizers. China Petroleum & Chemical markets its products throughout China.
What China Petroleum & Chemical is doing in more details?
China Petroleum and Chemical Corporation (Sinopec Corp.) is China’s largest producer and supplier of refined oil products and its second-largest crude oil producer. It is also China’s largest petrochemicals producer and distributor and the world’s fourth-largest ethylene producer.
Operations include oil and gas exploration and production; crude oil processing; oil products trading, transportation, distribution, and marketing; and petrochemicals manufacturing.
In 2010 it reported proved reserves of 2.9 billion barrels of oil and 6.5 trillion cu. ft. of natural gas; it also owns more than 29,600 gas stations and 34 refineries. China’s government controls about 76% of the company through Sinopec Group.