Founded in 1998 and headquartered in Beijing, Sinopec Limited - China Petroleum and Chemical Corporation is also a state-owned and state-authorized Petrochemical enterprise group as that of Petro China that is listed third in this list of Top 10 Asian Companies.
It functions in primarily oil and gas business. Its parent group is Sinopec Group, which holds state investment with a controlling share.
It is listed in Hong Kong, Shanghai, London and New York stock markets and the group holds a registered capital of RMB 274.9 billion. The group’s principal activities are refining, marketing, production, exploration, transportation and storage of oil, petroleum, coal, petrochemicals, coal chemicals and natural gas chemicals in addition to the group’s key involvement in production of electricity, industrial gas, water and steam. Other domain activities include international logistics business, trade of agent commodity & technology, R&D, electrical & mechanical equipments manufacturing, industrial investment management and consulting.
Besides a slow petroleum & petrochemical market and erratic crude oil prices, the company has survived the instabilities over years and has made consistent achievements like the establishment of China’s big sized shale gas field thereby making China second to America in development of shale gas. Sinopec employs around 351,000 employees as of 2015.
It has remained the highest is the proportion of cash payment for taxes of all Chinese companies till date. With a remarkable revenue of $307.4 billion and a profit of $4.904 billion, the company has strictly focusses on the improvement of development efficiency and quality in addition to its commitment to sustainable development and environmental protection.
Sinopec is categorized in the more downstream segment of the oil and gas industry than Petro China which is ranked #3 in this list of Top 10 Asian Companies.
1.20 largest companies from Asia are selected
2.For each company, their latest revenues and profits are taken and given weights of 60% and 40% respectively
3.Based on the final score, the top 10 companies are found out