SINOPEC
Sinopec Limited was established as a joint stock entity under the China Petrochemical Corporation Group (Sinopec Group) in February 2000. The company was simultaneously listed in Hong Kong, New York, and London in October 2000. A Shanghai listing was completed in June 2001.
Given its legacy asset base from Sinopec Group, analysts have categorized it as a more downstream oil player than PetroChina.
Sinopec is the largest oil refiner in Asia by annual volume processed. Sinopec produces around 1/4 as much raw crude oil as PetroChina, but produces 60% more refined products per annum.
In December 2006, Sinopec acquired the assets of Shengli Petroleum, whose main asset was a maturing domestic oil field, in order to stabilize its crude inputs and raise the utilization rate of its existing refineries.
In March 2013, China Petroleum and Chemical Corp agreed to pay $1.5 billion for Sinopec Group's overseas oil and gas-producing assets.
In August 2013, Sinopec acquired a 33% stake in Apache Corporation’s oil and gas business in Egypt for $3.1 billion.
In December 2013, MCC Holding Hong Kong Corp. Ltd. and MCC Oil & Gas Hong Kong Corp. Ltd., acquired an 18% stake of Sinopec in oil and gas business for $9.3 billion.