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3 - Sinopec Group

Chinese technicians examine pipes at a natural gas purification plant of Sinopec in Dazhou city, southwest China's Sichuan province on Jan. 3, 2018. The Changning-Weiyuan national shale gas demonstration zone developed by PetroChina Southwest Oil & Gas Field Company generated more than 2.4 billion cubic meters of shale gas in 2017, the company said Wednesday (3 January 2018). By 2017, the state-level demonstration zone had 163 shale gas wells in production, generating 8 million cubic meters of shale gas each day. Its output accounted for 98.9 percent of the company's total production of 3 billion cubic meters in Sichuan in 2017. The shale gas-rich Sichuan Basin in Southwest China produced about one-third of the country's total shale gas in 2017. The new industry also helped the region to improve its energy structure and shift away from traditional energy sources such as coal. It is estimated that 3 billion cubic meters of shale gas is equivalent to burning 6 million tons of coal, reducing carbon dioxide emissions by 4.2 million tons. China has made breakthroughs in shale gas exploration both in capacity and drilling techniques, making it one of the top shale gas suppliers in the world. By 2020, proven reserves of shale gas will surpass 1.5 trillion cubic meters, according to plans released by authorities in 2017. - Hu qingming—Imaginechina/AP
Chinese technicians examine pipes at a natural gas purification plant of Sinopec in Dazhou city, southwest China's Sichuan province on Jan. 3, 2018. The Changning-Weiyuan national shale gas demonstration zone developed by PetroChina Southwest Oil & Gas Field Company generated more than 2.4 billion cubic meters of shale gas in 2017, the company said Wednesday (3 January 2018). By 2017, the state-level demonstration zone had 163 shale gas wells in production, generating 8 million cubic meters of shale gas each day. Its output accounted for 98.9 percent of the company's total production of 3 billion cubic meters in Sichuan in 2017. The shale gas-rich Sichuan Basin in Southwest China produced about one-third of the country's total shale gas in 2017. The new industry also helped the region to improve its energy structure and shift away from traditional energy sources such as coal. It is estimated that 3 billion cubic meters of shale gas is equivalent to burning 6 million tons of coal, reducing carbon dioxide emissions by 4.2 million tons. China has made breakthroughs in shale gas exploration both in capacity and drilling techniques, making it one of the top shale gas suppliers in the world. By 2020, proven reserves of shale gas will surpass 1.5 trillion cubic meters, according to plans released by authorities in 2017. Hu qingming—Imaginechina/AP

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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Key Metrics & Financials (Last Fiscal Year)

Revenues ($M)$326953
Revenue Percent Change22.2%
Profits ($M)$1,537.8
Assets ($M)$346545
Profits Percent Change22.2%
Employees667793
Previous Rank3

Company Facts

Employees667793
SectorEnergy
IndustryPetroleum Refining
CEODai Houliang
HQ LocationBeijing
Websitewww.sinopec.com
Years on Global 500 List20

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