4 of 500
Sinopec Group
Sinopec Group
Rank: 4
Previous rank: 5
CEO: Fu Chengyu
Employees: 1,015,039

China's largest oil and gas producer moves up a notch on Fortune's Global 500 list. The company continues to grow despite peculiar circumstances -- it looks, in many ways, like a multinational, except it's exposed to the Chinese government's control over oil and gas prices.

Sinopec, also known as China Petroleum & Chemical Corp., posted a 25% increase in first-quarter net profits in April, beating out competitor PetroChina thanks to Sinopec’s extensive distribution network in the country. It’s also acquiring aggressively outside China -- this past June, Sinopec bought Marathon Oil's stake in an Angolan oil and gas field, which should boost its production by 14,600 barrels-per-day.

22 Chaoyangmen N. St.
Beijing. 100728
Website: www.sinopec.com
Key financials
$ millions
% change from 2011
Stockholder's equity
Profits as % of
From the July 22, 2013 issue

Government owned 50% or more.
Excise taxes have been deducted.
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Companies are ranked by total revenues for their respective fiscal years ended on or before March 31, 2013. All companies on the list must publish financial data and report part or all of their figures to a government agency. Figures are as reported, and comparisons are with the prior year’s figures as originally reported for that year. Fortune does not restate the prior year’s figures for changes in accounting. More
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