SINOPEC Corporation company profile
China Petroleum & Chemical Corporation (hereinafter referred to as “Sinopec”) is a listed company on domestic and international stock exchanges with integrated upstream, midstream and downstream operations, prominent core businesses and a comprehensive marketing network. The scope of its core business mainly covers oil and gas exploration, development, production and marketing; oil refning and distribution; production and sales of chemicals. It has more than 80 subsidiaries and branches.
Sinopec ranked 16th in 2008 in the Fortune Global 500, with an oil refinery capacity of 160 million tons per annum, ranking 3rd in the world, an ethylene capacity of 6.6 million tons per annum, ranking 4th in the world, and the biggest distribution network in China, operating more than 28,000 gasoline stations.
China Petrochemical International Co., Ltd. (SINOPEC International), a wholly-owned subsidiary of Sinopec was incorporated in July 1983, with a registered capital of RMB 1.42 billion, is responsible for procurement management, centralized purchasing and international businesses for SINOPEC. SINOPEC International consists of 22 departments, 18 domestic branches and subsidiaries, and 7 overseas offices located respectively in the US, Japan, Germany, UAE, Russia, Ecuador and Hong Kong SAR.
In 2007, Sinopec International accomplished a turnover of USD 10.1 billion in centralized purchasing, USD 20.2 billion in E-procurement (online trading), and USD 4.6 billion in import and export. It was awarded as the biggest international trading company in China by the Ministry of Commerce for seven consecutive years from 1999 to 2005.
As the central procurement department of Sinopec, SINOPEC International undertakes the strategic procurement of large- volume and/or key items, such as OCTG, line pipe, reactors, heat exchangers, towers, compressors, pumps, process pipes, etc.
Sinopec has entered into strategic partnerships with leading companies, including Baosteel, Ansteel, Wuhan Iron & Steel Corp. (WISCO), China First Heavy Industries (CFHI), China Second Heavy Industr ies (CSHI) , Fushun Mechinery, Lanshi Mechinery, Shenyang Blowers (SBW), etc.
Strategic partners provide Sinopec with stable and prioritized resources, most favorable prices, reliable qual i ty and in-time service. In return, Sinopec gives strategic partners priority in market share. Both parties follow the transaction model of annual agreement, quarterly contract and monthly settlement with ever-optimizing transaction processes and ever- decreasing transaction cost.
Together with leading international petroleum and petrochemical companies, Sinopec implements projects all over the world. Among its strategic partners in Russia there is Rosneft and Orenburg Drilling Company.
SINOPEC International Company Rus LLC
SINOPEC International Company Rus LLC is an official trade mission of SINOPEC International in Russian Federation. Company's major business area is supply of high-quality upstream & downstream oil & gas equipment, petrochemical materials produced by China Petrochmical Corporation SINOPEC and its partners.
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