Oil, Gas and Consumable Fuels
Company Overview of China Petrochemical Corporation
China Petrochemical Corporation, also known as Sinopec Group Company, operates as a petroleum and petrochemical enterprise in China and internationally. It specializes in the industrial investment and investment management activities; exploration, production, storage, transportation, marketing, and utilization of oil and natural gas; oil refining; wholesale of gasoline, kerosene, and diesel; and production, marketing, storage, and transportation of petrochemicals and other chemical products. The company also offers household fuel products, including oil products, lubricants, and LPG; and commercial fuel products, such as chemical products, lubricants, catalysts, asphalt, and natural gas. In ...
22 Chaoyangmen North Street
Founded in 1998
Key Executives for China Petrochemical Corporation
President and Executive Director
Compensation as of Fiscal Year 2014.
China Petrochemical Corporation Key Developments
Sinopec Shortlists 37 Consortia For Fuel Unit Stake Sale
Sep 12 14
China Petrochemical Corporation (Sinopec) intends to divest up to 30% stake in its fuel retail unit. Sinopec has shortlisted 37 bidding consortia for the stake sale that could raise as much as $20 billion and is expected to select a winning bidder by end-September, 2014.
Sinopec Oilfield Service Reportedly Mulls Listing
Aug 23 14
China Petrochemical Corporation is planning a $1.5 billion Hong Kong initial public offering for Sinopec Oilfield Service Corporation in 2015, Reuters reported citing people familiar with the matter. Investment banks were recently invited to pitch for the listing mandates, which are expected to be awarded in the next few months.
Taiping Life Insurance Company Limited (TPL) Enters into the Capital Contribution Agreement with Sinopec Group Company to Form the JV Company
Apr 22 14
On 22 April 2014, Taiping Life Insurance Company Limited (TPL) entered into the Capital Contribution Agreement with Sinopec Group Company under which TPL and Sinopec Group Company agreed to form the JV company to be principally engaged in financial leasing. Pursuant to the Capital Contribution Agreement, the total registered capital of the JV company will be RMB 5,000,000,000. Each of TPL and Sinopec Group Company will contribute RMB 2,500,000,000 representing 50% of the total registered capital of the JV company. The formation of the JV company is subject to the approval by the relevant regulatory authorities in the PRC. The scope of business of the JV company includes financial leasing, transfers of subject assets of financial leases, investment in fixed-income securities, taking in deposits of financial leases and three-month or longer term deposits from non-banking shareholders, intra-industry lending, borrowings from financial institutions, offshore borrowings, sales and handling of leased assets, and economic consultation and other businesses approved by the China Banking Regulatory Commission. All such businesses may be conducted in local or foreign currency.
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