October 20, 2014 10:53 PM ET

Oil, Gas and Consumable Fuels

Company Overview of China Petrochemical Corporation

Company Overview

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

Chaoyang District

Beijing,  100728

China

Founded in 1998

Phone:

86 10 5996 0114

Fax:

86 10 5976 0111

Key Executives for China Petrochemical Corporation

President and Executive Director
Age: 51
Executive Director
Age: 57
Executive Director
Age: 50
Executive Director
Age: 49
Executive Director
Age: 52
Compensation as of Fiscal Year 2014.

China Petrochemical Corporation Key Developments

Sinopec Shortlists 37 Consortia For Fuel Unit Stake Sale

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

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

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.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
September 17, 2014
Sinopec Petroleum Engineering Machinery Co., Ltd.
 

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