The full name of Sinopec is China Petroleum & Chemical Corporation.
China Petroleum & Chemical Corporation (English abbreviation Sinopec Group) is a large-scale petroleum and petrochemical enterprise group established by the state in July 1998 on the basis of the former China Petroleum & Chemical Corporation. It is a state-owned company established solely by the state. , state-authorized investment institutions and state-controlled companies. The company has a registered capital of 231.6 billion yuan, the chairman is the legal representative, and its headquarters is in Beijing.
The company exercises the rights of investors such as asset benefit, major decision-making and selection of managers for the relevant state-owned assets of its wholly-owned enterprises, holding enterprises and joint-stock enterprises, and operates, manages and supervises the state-owned assets in accordance with the law. And correspondingly bear the responsibility of maintaining and increasing value.
China Petroleum & Chemical Corporation, controlled by the company, issued H shares and A shares overseas and domestically in October 2000 and August 2001, and were listed in Hong Kong, New York, London and Shanghai respectively.
Extended information:
The development history of Sinopec:
On February 19, 1983, the Central Committee of the Communist Party of China and the State Council issued a "Notice" and decided to establish China Petrochemical Corporation. On July 12, the founding meeting of Sinopec Corporation was held in the Great Hall of the People.
On January 19, 1984, the state approved the construction of seven large-scale projects by the Petrochemical Corporation, namely 390,000 tons/year ethylene in Daqing, Yangzi, and Qilu, 30 tons/year synthetic ammonia in Zhenhai, Ningxia, and Urumqi, and 520,000 tons/year urea and Shanghai Petrochemical Plant Phase II Project.
On May 14, 1986, the Central Organization Department informed that the Central Committee decided that Petrochemical Corporation would no longer establish a board of directors and implement a manager responsibility system.
On February 6, 1988, the Prime Minister’s Office Meeting of the State Council determined that Petrochemical Corporation would remain directly under the State Council for the time being.
On January 8, 1990, the first new cracking furnace (Northern Furnace) with an annual output of 250,000 tons of ethylene independently developed by my country passed the national appraisal and acceptance.
On September 11, 1991, Petrochemical Corporation and the China Association for Science and Technology jointly held the 91 International Petroleum Refining and Petrochemical Industry Academic Conference and Exhibition in Beijing.
On January 11, 1992, the State Council approved the 300,000 tons/year ethylene reconstruction and expansion project of Beijing Yanshan Petrochemical Company.
On February 18, 1993, China International Petrochemical United Company, a joint venture between Petrochemical Corporation and China National Chemical Import and Export Corporation, opened.
On July 26, Shanghai Petrochemical’s H shares were listed on the Hong Kong Stock Exchange. On September 28, my country’s first 800,000 tons/year hydrogenation unit independently researched, designed and manufactured was completed at Zhenhai Petrochemical Plant. On November 8, Shanghai Petrochemical A shares were listed on the Shanghai Stock Exchange.
On January 7, 1994, the State Planning Commission approved the Petrochemical Corporation to build a National Engineering Research Center for Refining Technology and Catalysts based on the Petrochemical Research Institute. On November 9, Yangzi Petrochemical Company established Yangzi BASF Ethylene Series Co., Ltd. as a joint venture with BASF in Germany, and started construction of 120,000 tons/year styrene and 100,000 tons/year polystyrene projects.
On November 28, 1995, the registered trademark "Sinopec" (Chinese and English + sunrise pattern) and the "Torch" service trademark (Sinopec) were registered.
On July 10, 1996, my country's first solution-polymerized styrene-butadiene rubber plant with an annual output of 10,000 tons was successfully put into operation at Beijing Yanshan Petrochemical Company. The physical and mechanical properties of the product reached the level of similar foreign products.
On October 13, 1997, the signing ceremony of the joint feasibility study agreement on the Fujian Refining and Chemical Integration Project was held in the Great Hall of the People.
On February 28, 2000, China Petroleum & Chemical Corporation, exclusively initiated and established by Petrochemical Corporation, was established. On March 30, according to the regulations of the State Council, China New Star Petroleum Co., Ltd. was integrated into the Petrochemical Corporation.
From October 9th to 12th, Sinopec conducted an initial public offering of 16.78 billion H shares overseas, raising US$3.46 billion. On the 18th and 19th of the same month, Sinopec H shares were listed in Hong Kong, New York and London respectively.
On January 22, 2001, Sinopec International Petroleum Exploration and Development Company was established. From July 16th to 19th, Sinopec Corp. publicly issued 2.8 billion A shares domestically, raising 10.8 billion yuan. On August 8, Sinopec A shares were listed on the Shanghai Stock Exchange.
On February 28, 2002, the signing ceremony for the joint venture between Sinopec Corp. and PCCW Limited to establish Sinopec PCCW Information Technology Co., Ltd. was held in Beijing. On April 11, Sinopec Southern Exploration and Development Branch was established. On May 29, the Lubricant Branch of Sinopec Corp. was reorganized and established.
On August 26, 2004, Sinopec, Exxon Mobil, Saudi Aramco and Fujian Refining and Chemical signed an expansion design agreement for the Fujian Refining and Chemical Integrated Project at their headquarters. The Fujian refined oil marketing joint venture company jointly submitted a scientific research agreement and a petroleum product sales agreement. On September 22, the inauguration ceremony of Sinopec Shanghai Asphalt Sales Branch was held at Shanghai Xingguo Hotel.
On June 22, 2005, the groundbreaking ceremony for the Qingdao Refinery Project was held in Qingdao. On June 29, the official commissioning ceremony of Shanghai SECCO's 900,000 tons/year ethylene project was held in Shanghai.
On September 20, 2006, the Zhenhai National Petroleum Strategic Reserve was fully completed and put into use. On October 10, the share-trading reform of the A-share market was implemented.
On October 11, Hainan Refining and Chemical Co., Ltd. increased its registered capital by capital injection. After the capital increase is completed, it holds 17% equity interest in Hainan Refining and Chemical Co., Ltd.
On November 6, the groundbreaking ceremony for the Sinopec Zhenhai Refining and Chemical's 1 million tons/year ethylene project was held at Zhenhai Refining and Chemical. On November 18, Sinopec Maoming’s 1 million tons/year ethylene expansion project was put into operation.
On April 9, 2007, the State Council officially approved the "Sichuan-East Gas Transmission" project, and it was included in the national "Eleventh Five-Year Plan" major projects. On December 31, it acquired five oil refining companies including Zhenjiang Dongxing of Sinopec Group Company.
On February 20, 2008, Sinopec issued 30 billion separately traded convertible bonds domestically.
Baidu Encyclopedia—China Petrochemical Corporation