Sinopec, China’s second-largest oil company, earned a spot on the Global 500 for the 24th consecutive year with revenue of $401.3 billion and profits of $8.3 billion, as demand for gas returned to pre-pandemic levels. Its 2021 revenue haul left it just short of its pre-pandemic 2019 total of $407 billion. Soaring crude oil prices, which rose nearly 70% in 2021, and booming demand for natural gas—up 13% as measured by cubic feet—buoyed Sinopec’s results. As it raced to meet the world’s need for energy, state-owned Sinopec allocated 27% more to operating expenses in 2021 compared with the year prior, as the company spent freely to secure more crude oil and identify potential new drilling locations.
Wu Junjie—China News Service/Getty Images
Company Information
As of 8/3/2022
Country/Territory
China
Headquarters
Beijing
Industry
Petroleum Refining
CEO
Ma Yongsheng
Website
Company Type
Private
Ticker
-
Revenues ($M)
$401,314
Profits ($M)
$8,316
Market Value ($M)
-
Employees
542,286
Government owned 50% or more. Excise taxes have been deducted.
Key Financials (Last Fiscal Year)As of 8/3/2022
($ Millions)
% change
Revenues ($M)
$401,313.5
41.4%
Profits ($M)
$8,316.1
34%
Assets ($M)
$380,674.7
-
Total Stockholder Equity ($M)
$133,476
-
Profit RatiosAs of 8/3/2022
Profit as % of Revenues
2.1%
Profits as % of Assets
2.2%
Profits as % of Stockholder Equity
6.2%
Sinopec Group Rank History
Historical Data
| Year | Revenues ($M) | Profits ($M) | Assets ($M) | Total Stockholder Equity ($M) |
|---|---|---|---|---|
| 2021 | $283,728-30.3% | $6,205-8.7% | $343,289 | $121,065 |
| 2020 | $407,009-1.8% | $6,79316.2% | $317,516 | $107,742 |
| 2019 | $414,65026.8% | $5,845280.1% | $329,186 | $105,182 |
| 2018 | $326,95322.2% | $1,53822.2% | $346,545 | $113,710 |
| 2017 | $267,518-9.1% | $1,258-65% | $310,726 | $106,523 |
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