The predecessor of China Petrochemical Corporation (hereinafter referred to as "the Company") is China Petrochemical Corporation, which was founded in July 1983. In July 1998, according to the deployment of the CPC Central Committee on implementing the strategic restructuring of the petrochemical industry, China Petrochemical Corporation was restructured and established on the basis of the original China Petrochemical Corporation. In August 2018, it was restructured into China Petrochemical Corporation. The company is a super large petroleum and petrochemical enterprise group with a registered capital of 326.5 billion yuan. The chairman of the board of directors is the legal representative. The company is headquartered in Beijing. The Company exercises the right to benefit from assets, make major decisions and select managers and other investors with respect to relevant state-owned assets of its wholly-owned enterprises, holding enterprises and joint-stock enterprises, operates, manages and supervises state-owned assets according to law, and assumes the responsibility for maintaining and increasing the value of the assets accordingly.
The company's main business scope includes: industrial investment and investment management; Exploration, exploitation, storage and transportation (including pipeline transportation), sales and comprehensive utilization of oil and natural gas; Coal production, sales, storage and transportation; Petroleum refining; Storage, transportation, wholesale and retail of refined oil; Production, sales, storage and transportation of petrochemical, natural gas chemical, coal chemical and other chemical products; Production, sales, storage and transportation of new energy, geothermal and other energy products; Exploration, design, consultation, construction and installation of petroleum and petrochemical engineering; Overhaul and maintenance of petroleum and petrochemical equipment; R&D, manufacturing and sales of electromechanical equipment; Production and sales of electricity, steam, water and industrial gas; Research, development, application and consulting services of technology, e-commerce and information, alternative energy products; Self support and agency of import and export of relevant commodities and technologies; Foreign project contracting, bidding procurement, labor export; International warehousing and logistics business.