China Petrochemical Corporation (Sinopec Corporation) Overview
Company Headquarters: Beijing, China
Founded: 2000
Workforce: 423,543
Company Working: China Petrochemical Corporation (Sinopec Corp) is engaged in the epoxy resin production and distribution business, it is an integrated chemical and energy company in China. The company operates through five business segments, namely exploration and production; refining; marketing and distribution; chemicals; and corporate & others. Sinopec Corp has integrated upstream, midstream, and downstream operations. It is one of the largest suppliers of refined oil products in China, and in terms of ethylene production capacity, it is the leading player in China with an established distribution network of chemical products across the globe. The company has more than 100 subsidiaries engaged in several businesses such as refining, oil & gas exploration and production, chemicals, R&D, foreign trade, and marketing. The prime operation areas are east, south, and mid-China. By the end of 2017, the company's total share was 121.1 billion, which included 95.6 billion domestic and 25.5 billion overseas.
Strategy
Sinopec Corporation aims to optimize resource allocation and increase operating profit. It is planning to carry out the targeted and differential marketing strategy to enhance service quality. Also improves, raw materials procurement channels which reduce costs and helps in increasing the profit margin.
