China Petroleum & Chemical Corp - Company Profile
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Business Description
China Petroleum & Chemical Corp (Sinopec), a subsidiary of China Petrochemical Corp, is an integrated oil and gas company, that carries out upstream, midstream and downstream operations. The company offers production, sale, storage and transportation of refinery products, petrochemical products, coal chemical products, synthetic fiber and other chemical products.
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R&D Overview
Sinopec intensified efforts in innovation with breakthroughs in R&D and digital intelligence in FY2025. The company developed differential cube development technology for shale oil in continental rift basins, applied heterogeneous composite flooding technology to reservoirs with high salinity and high calcium-magnesium content, and achieved breakthroughs in high-end polypropylene cable insulation materials. Additionally, the company achieved industrial production of 60K large tow carbon fiber and developed China's first seawater electrolysis hydrogen production unit with long-term stable operation. A 100 KW-scale iron-chromium flow battery system was successfully deployed for solar-storage-charging integration at photovoltaic power stations. During FY2025, the company filed 9,953 patent applications at home and abroad, with 5,768 granted. In FY2025, the company spent CNY15,863 million on R&D, which as a percentage of revenue, stood at 0.6% and grew 4.3% YoY.
Business Segments
Overview
Sources chemical feedstock from the refining segment and third parties and produces and markets petrochemical and inorganic chemical products. Produces and distributes a comprehensive range of chemical products including intermediate petrochemicals, synthetic resins, synthetic fiber monomers and polymers, synthetic fibers and synthetic rubber. In FY2025, the segment incurred a capital expenditure of CNY35,949 million, which declined 19.5% YoY.
Performance
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Overview
Exploration and production assets include conventional and unconventional properties across the world. It explores for and develops oil fields, produces crude oil and natural gas, and sells to the Refining segment and external customers. In FY2025, the segment incurred a capital expenditure of CNY70,917 million, which declined 13.8% YoY.
Performance
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Overview
Manages depots and service stations in China. It distributes refined petroleum products through its wholesale and retail networks. In FY2025, the segment incurred a capital expenditure of CNY13,772 million, which declined 2.5% YoY.
Performance
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Overview
Purchases crude oil from third parties and E&P segment to process into refined petroleum products. Major products include asphalt, chemical feedstock, diesel, fuel oil, gasoline, LPG, jet fuel, solvent oil, naphtha, kerosene, petroleum coke and paraffin. In FY2025, the segment incurred a capital expenditure of CNY21,973 million, which declined 25.1% YoY.
Performance
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Overview
Includes trading activities of the import and export companies and research and development activities. In FY2025, the segment incurred a capital expenditure of CNY4,549 million, which declined 0.7% YoY.
Performance
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Geographical Segments
Performance
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Performance
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