|Net Worth:||$25.2 billion|
What is Sinopec Group Net Worth
Sinopec Group is a Chinese oil and gas industry that has a net worth of $25.2 billion. Its permanent residence is situated in Beijing. The company is also called Chemical Corporation & China Petroleum which is traded in Shanghai and enlisted in Hong Kong.
Sinopec was founded and established by Fu Chengyu n Beijing, China. Subsequently, China Petrochemical Corporation Group (Sinopec Group) was created in February 2000 as Sinopec Limited which then became a joint stock company.
Later in October 2000, the business was listed concurrently in Hong Kong, New York, and London. In June 2001, a listing for Shanghai was finished.
Analysts have labeled it as a bigger downstream oil operator than PetroChina because of its legacy asset base from Sinopec Group. By volume of oil refined each year, Sinopec is the biggest oil refiner in Asia.
Sinopec produces 60% more refined goods annually, despite producing around one-fourth as much crude oil as PetroChina does in terms of raw material.
To boost the consumption of its actual refineries and stabilize its crude oil inputs, Sinopec purchased Shengli Petroleum assets in December 2006, whose primary asset was a sophisticated domestic oil field.
The company’s activities also include the storage and pipeline transportation of crude oil and natural gas, as well as the import, export, and import/export agency business of crude oil, natural gas, refined oil products, petrochemicals, and other chemicals.
Sinopec also engages in the exploration, refining, and marketing of oil and gas. From used vegetable oil, it also creates ethanol and a number of biofuels, including biodiesel and green jet fuel.
A twenty-year agreement for the delivery of liquefied natural gas to Sinopec was signed by American producer Venture Global LNG in November 2021. (LNG).
To take advantage of the high Asian spot prices, they proposed to resell LNG in January 2022.
Natural gas from the United States will more than double in imports to China. A memorandum of understanding was signed in March 2022 by Sinopec and Aramco to improve their downstream operations and solidify their already existing relationships.
A middleman for Russian oil that is restricted is Unipec, a Sinopec subsidiary.
Here on Networthforum, we calculate all net worths using data drawn from public sources. We often incorporate tips and feedback from individuals or their representatives.
While we always strive to ensure that our figures are as accurate as possible, please note that they are only estimates, unless otherwise indicated.
This page is updated from time to time so that our readers will know the current net worth of Sinopec Group. So feel free to check back for the current Sinopec Group net worth in case of any update on its net worth.