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Last CNY7.21 CNY
Change Today -0.13 / -1.77%
Volume 664.3M
600028 On Other Exchanges
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As of 3:05 AM 05/29/15 All times are local (Market data is delayed by at least 15 minutes).
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Company Description

Contact Info

No. 22 Chaoyangmen North Street

Chaoyang District

Beijing, 100728

China

Phone: 86 10 5996 0028

Fax: 86 10 5996 0386

China Petroleum & Chemical Corporation engages in petroleum and petrochemical businesses across China and Africa. The company’s businesses include exploration for, development, production, and marketing of crude oil and natural gas; the refining of crude oil and marketing and distribution of refined petroleum products; and the production and sales of petrochemical products. The company is a subsidiary of China Petrochemical Corporation. As of December 31, 2014, the company held 197 production licenses in China, with an aggregate acreage of 22,912 square kilometers and with terms ranging from 10 to 80 years. As of December 31, 2014, the company held 288 exploration licenses in China for various blocks in which it engages in exploration activities, with an aggregate acreage of approximately 960,981 square kilometers and with the maximum term of seven years. As of December 31, 2014, the company’s overseas subsidiary held two production licenses, with an aggregate acreage of 323 square kilometers. Its overseas equity-accounted investments held 70 production licenses, with an aggregate acreage of 4,686 square kilometers, and 2 exploration licenses. Properties The company operates 16 oil and gas production fields in China, each of which consists of many oil and gas producing fields and blocks. As of December 31, 2014, the total acreage of the company’s oil and gas producing fields and blocks in China was 10,580 square kilometers. As of December 31, 2014, the total acreage of the company’s oil and gas producing fields and blocks of its overseas subsidiary was 323 square kilometers. As of December 31, 2014, the total acreage of its oil and gas producing fields and blocks of its overseas equity-accounted investments was 1,768 square kilometers. Oil and Natural Gas Reserves As of December 31, 2014, the company’s estimated proved reserves of crude oil and natural gas in China were 3,819 million barrel-of-oil-equivalent (including 2,700 million barrels of crude oil and 6,715 billion cubic feet of natural gas), and its estimated proved reserves of crude oil and natural gas outside of China, which included a share of the estimated proved reserves of its equity-accounted investments, were 353.5 million barrel-of-oil-equivalent. Refining In 2014, the company’s refinery throughputs were approximately 235 million tonnes. The company produces a range of refined petroleum products. Refining Facilities: The company operates 34 refineries in China. As of December 31, 2014, its total primary distillation capacity of crude oil was 292.40 million tonnes per annum. In 2014, the company’s primary distillation capacity of crude oil increased by 10.2 million tonnes per annum, which included an increase of 5.5 million tonnes per annum in the distillation capacity of sour crude. Marketing and Sales of Refined Petroleum Products The company operates the major sales and distribution network for refined petroleum products in China. In 2014, it distributed and sold approximately 170.97 million tonnes of gasoline, diesel, jet fuel and kerosene. Retail: In 2014, the company sold approximately 117.84 million tonnes of gasoline, diesel and kerosene through its retail network, representing approximately 68.9% of its total domestic gasoline, diesel, jet fuel and kerosene sales volume. As of December 31, 2014, the company had 13 franchised service stations that are owned and operated by third parties. Wholesale and Distribution: In 2014, the company sold approximately 53.13 million tonnes of refined petroleum products, including 4.95 million tonnes of gasoline, 13.14 million tonnes of diesel and 35.04 million tonnes of kerosene, through wholesale and distribution to long-term large-scale end users and independent distributors, such as domestic industrial enterprises, railways, airlines, hotels, restaurants and agricultural producers. For its wholesale and distribution business, the company operates 383 storage facilities with a total capacity of approximately 16.20 million cubic meters, substantially all of which are wholly-owned by it. These storage facilities are connected to the company’s refineries by railway, waterway a

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600028

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Valuation 600028 Industry Range
Price/Earnings 24.6x
Price/Sales 0.3x
Price/Book 1.3x
Price/Cash Flow 5.3x
TEV/Sales 0.1x
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