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Global 500

Hu qingming — Imaginechina/AP

4

Sinopec Group

China

The most downstream of China’s big three energy companies (alongside CNPC and CNOOC) Sinopec is more a producer of petrochemicals, fuels, and lubricants than an exploration and production company (although it crops up repeatedly as a mooted buyer of other E&P companies including Anadarko in late 2015). In April, it transferred a controlling stake in a unit that holds its overseas assets to two state investment vehicles, in what amounted to a recapitalization after paying big money for assets that have tumbled in value since late 2014. Sinopec and CNPC spent nearly $120 billion on acquisitions between 2009-2013.

CEO

Wang Yupu

Sector

Energy

Industry

Petroleum Refining

HQ Location

Beijing, China

Employees

810,538

Years on Global 500 List

18

Excise taxes have been deducted.Government owned 50% or more.
Key Financials (last fiscal year)
($ Millions)% change
Revenues ($M)$294,344-34.1%
Profits ($M)$3,595-30.6%
Assets ($M)$317,006
Total Stockholder Equity ($M)$112,455
Profit Ratios
Profit as % of Revenues1.2%
Profits as % of Assets1.1%
Profits as % of Stockholder Equity3.2%