A Chinese company Sinopec Corp. specializes in the field of oil and gas extraction and refining. It is the country's largest joint-stock company in the field and the leader in terms of oil refining in Asia. In October 2000, Sinopec held an initial public offering in Hong Kong, New York, and London. In July 2001, the company issued an additional amount of stocks in Shanghai. The largest shareholder of the company is China Petrochemical Corporation, Sinopec Group (owned by the state). Sinopec headquarters is located in Beijing, representative offices operate in Hong Kong, Shanghai, and New York. The company's capitalization is about $300 billion: it's included in the TOP-3 of the Fortune Global 500 list.
The company's sphere of geographic interests is oil extraction in Gabon, Sudan, Cameroon, and Angola. Recently, Canada and Brazil joined the African countries. 8 Chinese plants produce petrol, diesel fuel, liquid gas, and accompanying goods - petrol cards, car and equipment lubricants, asphalt, and catalysts. Sinopec owns a chain of filling stations in China. The company developed its own Internet platform for trading in oil and oil products; Sinopec refines oil and gas using unique technologies developed in 3 research institutes in Beijing, Shanghai and Fushun District.
Factories and offices of the corporation employ more than 350,000 people.
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