Sinopec

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Type Public Limited Company
Traded as HKEX: 386
Founded 2000[1]
Headquarters China[1]
Key People Shulin Su (CEO, 2011)[1]
Products Oil and gas exploration.
Employees 373,375 (2011)[1]
Website www.sinopec.com

Company Profile

China Petroleum & Chemical Corporation (Sinopec) is a China-based energy and chemicals company. Its oil and gas operations consist of exploring for, developing and producing crude oil and natural gas, transportation, refining of crude oil into finished petroleum products, and marketing of these products. Chemical operations include the manufacturing and marketing of a range of chemicals for industrial uses. (Forbes)

South Africa refinery plans

Sinopec and PetroSA, South Africa's national oil company, signed a memorandum of understanding in September 2011 to build a refinery through a plan called Project Mthombo. PetroSA first announced plans to build the refinery in 2008, but struggled to find sufficient funding until it teamed up with Sinopec. PetroSA said in 2008 that it expects the refinery in the Coega Industrial Development Zone to process 400,000 barrels of oil a day and cost between $9 billion and $10 billion to build. The final cost and capacity will be determined by a study to be undertaken by Sinopec Engineering, which will take as many as 18 months to complete, according to the Wall Street Journal. The refinery is scheduled to be commissioned between 2018 and 2020.[2]

Official Accreditations and Global Perceptions

EITI

As of March 2012, Sinopec was not a supporting company of the EITI.[3]

UN Global Compact

Sinopec began its participation in the UN Global Compact in 2004.[4]

In addition, at a November 2011 meeting in Beejing, Sinopec Chairman Fun Chengyu agreed to serve as the inaugural chairman of the Global Compact China Network Board, which aims to promote the ten Global Compact principles among Chinese companies, mobilize more to join the initiative and to make important contributions to sustainable development.[5]

Global Operations by Country

Syria

Main article: Sinopec Operations in Syria

References

  1. 1.0 1.1 1.2 1.3 Sinopec-China Petroleum" Forbes, retrieved 12 March 2011
  2. "Sinopec Joins Effort to Build South Africa Refinery" The Wall Street Journal, 21 May 2012.
  3. "Supporting Companies" EITI, retrieved 12 March 2011.
  4. "Participant information: Sinopec" UN Global Compact , retrieved 13 March 2012.
  5. "Global Compact Relaunches China Network" UN Global Compact, 28 November 2011.

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