Sinopec Group Continues Dominating China's Oil Products Market

China Petrochemical Corp. (Sinopec Group), the country's second largest oil company, continued to dominate the domestic oil products market last year, selling 151 million tons of gasoline, diesel and kerosene, according to statistics released by the energy giant Jan. 4.

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.