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Global 500

Hu qingming—Imaginechina/AP

3

Sinopec Group

China

The state-owned Chinese oil and gas company formally known as China Petroleum and Chemical, Sinopec become the third largest company in the world by sales by riding its home country’s explosive growth and being savvy about pursuing its international ambitions. Last year it bought some of Chevron’s businesses in Africa for $900 million, helping it diversify its holdings. But that can run both ways, and now Sinopec has to navigate tense trade relations between the U.S. and China. In mid-2018, the company said it would double its imports of U.S. oil.

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CEO

Dai Houliang

Sector

Energy

Industry

Petroleum Refining

HQ Location

Beijing

Years on Global 500 List

20

Employees

667,793

Government owned 50% or more.Excise taxes have been deducted.
Key Financials (Last Fiscal Year)
($ Millions)% change
Revenues ($M)$326,95322.2%
Profits ($M)$1,537.822.2%
Assets ($M)$346,545
Total Stockholder Equity ($M)$113,710
Profit Ratios
Profit as % of Revenues0.5%
Profits as % of Assets0.4%
Profits as % of Stockholder Equity1.4%