Sinopec, China’s second-largest oil company, earned a spot on the Global 500 for the 24th consecutive year with revenue of $401.3 billion and profits of $8.3 billion, as demand for gas returned to pre-pandemic levels. Its 2021 revenue haul left it just short of its pre-pandemic 2019 total of $407 billion. Soaring crude oil prices, which rose nearly 70% in 2021, and booming demand for natural gas—up 13% as measured by cubic feet—buoyed Sinopec’s results. As it raced to meet the world’s need for energy, state-owned Sinopec allocated 27% more to operating expenses in 2021 compared with the year prior, as the company spent freely to secure more crude oil and identify potential new drilling locations.
An employee refuels a vehicle at a gas station of Sinopec.
Wu Junjie—China News Service/Getty Images

Company Information

As of 8/3/2022
Country
China
Headquarters
Beijing
Industry
Petroleum Refining
CEO
Ma Yongsheng
Company Type
Private
Ticker
-
Revenues ($M)
$401,313.5
Profits ($M)
$8,316.1
Market Value ($M)
-
Employees
542,286
Government owned 50% or more. Excise taxes have been deducted.

Key Financials (Last Fiscal Year)
As of 8/3/2022

($ Millions)
% change
Revenues ($M)
$401,313.5
41.4%
Profits ($M)
$8,316.1
34%
Assets ($M)
$380,674.7
-
Total Stockholder Equity ($M)
$133,476
-

Profit Ratios
As of 8/3/2022

Profit as % of Revenues
2.1%
Profits as % of Assets
2.2%
Profits as % of Stockholder Equity
6.2%

Sinopec Group Rank History

Historical Data

YearRevenues ($M)Profits ($M)Assets ($M)Total Stockholder Equity ($M)
2021$283,727.6-30.3%$6,205.2-8.7%$343,289$121,064.5
2020$407,009-1.8%$6,793.216.2%$317,515.7$107,742.4
2019$414,649.926.8%$5,845280.1%$329,186.3$105,181.5
2018$326,95322.2%$1,537.822.2%$346,544.5$113,710.3
2017$267,518-9.1%$1,257.9-65%$310,726$106,523
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