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June 30, 2015 4:13 PM ET

Oil, Gas and Consumable Fuels

Company Overview of China Petroleum & Chemical Corp.

Company Overview

China Petroleum & Chemical Corporation, an energy and chemical company, through its subsidiaries, engages in the oil and gas, and chemical operations and businesses in the People’s Republic of China. It operates through Exploration and Production, Refining, Marketing and Distribution, Chemicals, and Corporate and Others segments. The company explores and develops oil fields, and produces and sells crude oil and natural gas; processes and purifies crude oil into refined petroleum products; and manufactures and sells petroleum products. It also owns and operates oil depots and service stations; and distributes and sells refined petroleum products, such as gasoline and diesel through wholesale ...

No. 22 Chaoyangmen North Street

Chaoyang District

Beijing,  100728

China

Founded in 2000

358,571 Employees

Phone:

86 10 5996 0028

Fax:

86 10 5996 0386

Key Executives for China Petroleum & Chemical Corp.

President, Executive Director, Member of Strategic Committee and Member of Social Responsibility Management Committee
Age: 58
Total Annual Compensation: $912.0K
Senior Vice President, Executive Director and Member of Strategic Committee
Age: 49
Total Annual Compensation: $914.0K
Senior Vice President, Executive Director and Member of Strategic Committee
Age: 57
Total Annual Compensation: $914.0K
Senior Vice President, Executive Director and Member of Strategic Committee
Age: 50
Total Annual Compensation: $908.0K
Compensation as of Fiscal Year 2014.

China Petroleum & Chemical Corp. Key Developments

China Petroleum Mulls Acquisitions

China Petroleum & Chemical Corp. (SEHK:386) is on the hunt for minority investments in U.S. shale oil and gas projects as it seeks to diversify China's supply sources, a senior company official said. China Petroleum is keen to take a 10%-15% stake in projects to export liquefied natural gas (LNG), Jack Yu, managing director of Sinopec D.C., said, which handles government relations in the U.S. Previous talks over investing in Freeport LNG's project in Texas fell through, he said.

China Petroleum & Chemical Corp. Announces Profit Distribution for A Shares for 2014, Payable on June 19, 2015

China Petroleum & Chemical Corp. announced profit distribution for A shares of RMB 0.11 (taxes included) per share at end of 2014. Record date of June 18, 2015, Ex-dividend date of June 19, 2015 and Cash dividend payable on June 19, 2015.

Lukoil Ready to Suspend Lawsuit Against Sinopec

Lukoil anticipates that its legal dispute with Sinopec over sale of a production asset in Kazakhstan, Caspian Investment Resources Ltd, will be settled soon. Lukoil filed for arbitration procedures in London in February 2015 seeking recovery of damages from Sinopec, which decided against buying 50% of Caspian Investment Resources, which has stakes in four hydrocarbon production projects in Kazakhstan. Lukoil argues that Sinopec is in breach of the sales contract worth $1.2 billion that was signed on April 15, 2014. Sinopec already owns 50% of Caspian Investment Resources. Caspian Investment Resources, via a number of joint ventures, owns a 50% stake in projects to develop four Kazakh fields: Alibekmola and Kozhasai (ownership shared 50-50 with KazMunayGas); North Buzachi (with China's CNPC), and Arman (with Shell, 50%). It also owns 100% of the project to develop the Karakuduk field. Lukoil's share of output from those projects totaled 10.2 million barrels of oil equivalent in 2013.

Recent Private Companies Transactions

Type
Date
Target
Merger/Acquisition
June 10, 2015
Caspian Investments Resources Ltd.
Merger/Acquisition
January 16, 2015
Nine Sections of Well Cores
Merger/Acquisition
December 30, 2014
Sinopec Yu Ji Pipeline Company Limited
 

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