China Petroleum & Chemical Corporation (Sinopec Corp.) is an energy and chemical company. The Company through its subsidiaries engages in oil and gas and chemical operations in the People鈥檚 Republic of China (PRC). Oil and gas operations consist of exploring for, developing and producing crude oil and natural gas; transporting crude oil and natural gas by pipelines; refining crude oil into finished petroleum products; and marketing crude oil, natural gas and refined petroleum products. Chemical operations include the manufacture and marketing of a range of chemicals for industrial uses. The Company operates in four business segments: exploration and production segment, refining segment, marketing and distribution segment and chemicals segment, and corporate and others.

China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group established in July 1998 on the basis of the former China Petrochemical Corporation. Sinopec Group is a state-owned company solely invested by the State, functioning as a state-authorized investment organization in which the state holds the controlling share. Headquartered in Beijing, Sinopec Group has a registered capital of RMB 182 billion.

Sinopec Group executes the investor rights over related state assets owned by its full subsidiaries, controlled companies and share-holding companies. These rights include receiving returns on assets, making major decisions and appointing management teams. The Group operates, manages and supervises state assets according to related laws, and shoulders the corresponding responsibility of maintaining and increasing the value of state assets. China Petroleum & Chemical Company (Sinopec Corp.), controlled by Sinopec Group, issued H-shares and A-shares at overseas and home respectively in October 2000 and August 2001 and was listed on stock markets in Hong Kong, New York, London and Shanghai. The total number of shares of Sinopec Corp. was 86.7 billion, in which Sinopec Group owns 75.84%, international investors own 19.35% and domestic investors own 4.81%.

Sinopec Group’s key business activities include: industrial investment and investment management; the exploration, production, storage and transportation (including pipeline transportation), marketing and comprehensive utilization of oil and natural gas; oil refining; the wholesale of gasoline, kerosene and diesel; the production, marketing, storage, transportation of petrochemicals and other chemical products; the design, construction and installation of petroleum and petrochemical engineering projects; the overhaul and maintenance of petroleum and petrochemical equipments; the manufacturing of electrical and mechanical equipments; the research, development, application and consulting services of technology, information and alternative energy products, the import and export of commodities and technologies both for the Group and as a proxy (with the exception of those commodities and technologies that are either banned by the State or to be carried out by the state-designated companies).