Our annual ranking of the world's largest corporations

5 of 500
5. Sinopec Group
Sinopec Group
Rank: 5 (Previous rank: 5)
CEO: Fu Chengyu
Employees: 1,021,979
Address: 22 Chaoyangmen N. St.
Beijing, 100728
Country: China
Website: www.sinopecgroup.com

Known as China Petroleum and Chemical Corp., Chinaís biggest oil producer and refiner continued to expand by increasing production of crude oil and natural gas. Sinopecís scale is similar to major multinational oil and gas companies. But unlike its competitors, the state-owned company is more vulnerable to fluctuations in oil price margins because the Chinese government has pressured markets to avoid raising domestic energy prices. To compensate for losses from refining, the company plans to produce 50 million tons of crude overseas annually by 2015.

Nevertheless, the company continues to grow by forming partnerships and buying multinational oil companies worldwide. In one of its biggest acquisitions of 2011, Sinopec purchased Daylight Energy Ltd. in October for $2.1 billion in cash, gaining Canadian oil and shale-gas reserves and adding to the companyís expansion outside of Asia. --N.H.T.

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  $ millions % change from 2010
Revenues 375,214.0 37.2
Profits 9,452.9 23.9
Assets 277,297.0 --
Stockholders' equity 91,579.7 --
Profits as % of  
Revenues 2.5
Assets 3.4089
From the July 23, 2012 issue
Government owned 50% or more.
Excise taxes have been deducted.
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Rank # of Global 500 Companies
U.S. 132
China 73
Japan 68
Company 2011 Number of Employees
Wal-Mart Stores 2,200,000
China National Petroleum 1,668,072
State Grid 1,583,000
Company 2011 Profits
($ millions)
Gazprom $44,459.6
Exxon Mobil $41,060
Industrial & Commercial Bank of China $32,214.1
FAQ and methodology
All companies on the list must publish financial data and report part or all of their figures to a government agency. In the U.S., private companies and cooperatives... More
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