The predecessor of China Petroleum&Chemical Corporation (hereinafter referred to as the Company) was China Petroleum&Chemical Corporation, established in July 1983. In July 1998, in accordance with the deployment of the Central Committee of the Communist Party of China on implementing strategic restructuring of the petroleum and petrochemical industry, China Petroleum and Chemical Corporation was reorganized and established on the basis of the original China Petroleum and Chemical Corporation. In August 2018, it was restructured into China Petroleum and Chemical Corporation Limited through a company system. The company is a super large energy and chemical group company that integrates upstream and downstream, production, supply and marketing, and domestic and foreign trade. Its registered capital is 326.5 billion yuan, and the chairman is the legal representative. Its headquarters is located in Beijing. The company exercises the rights of asset beneficiaries, major decisions, and the selection of managers in relation to state-owned assets of its wholly-owned, controlling, and participating enterprises. It operates, manages, and supervises state-owned assets in accordance with the law and assumes corresponding responsibilities for preserving and increasing their value.

     The company's main business scope includes: industrial investment and investment management; Exploration, extraction, storage and transportation (including pipeline transportation), sales, and comprehensive utilization of oil and natural gas; Coal production, sales, storage, and transportation; Petroleum refining; Storage, transportation, wholesale, and retail of refined oil products; Production, sales, storage, and transportation of petrochemical, natural gas chemical, coal chemical, and other chemical products; Production, sales, storage, and transportation of new energy products such as hydrogen, solar energy, wind energy, and geothermal energy; New energy vehicle charging and swapping services and related services; Exploration, design, consulting, construction, and installation of petroleum and petrochemical engineering; Maintenance and repair of petroleum and petrochemical equipment; Research and development, manufacturing, and sales of electromechanical equipment; Production and sales of electricity, steam, water, and industrial gases; Research, development, application, and consulting services for technology, e-commerce and information, and alternative energy products; Import and export of goods and technologies related to self operation and agency; Foreign engineering contracting, bidding and procurement, and labor export; International warehousing and logistics services, etc.

     At present, the company is the largest supplier of refined oil and petrochemical products in China, the world's largest refining company, the second largest chemical company, and the second largest in the world in terms of total number of gas stations. In recent years, it has consistently ranked among the top companies in the Fortune Global 500 list.