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China Petroleum & Chemical Corporation, or Sinopec Corp., is one of the major petroleum companies in China. Sinopec’s business includes oil and gas exploration, refining, and marketing; production and sales of petrochemicals, chemical fibers, chemical fertilizers, and other chemical products; storage and pipeline transportation of crude oil and natural gas; import, export and import/export agency business of crude oil, natural gas, refined oil products, petrochemicals, and other chemicals. In 2009, it was ranked 9th by Fortune Global 500 becoming the first Chinese corporation to make the top ten. In 2007, it ranked first in the Top 500 Enterprises of China ranking.

Sinopec Corporation is a partner in Petrodar Operating Company Ltd., a consortium whose partners also include China National Petroleum Corporation (CNPC, the 90 per cent owner of PetroChina) and Sudapet (the Sudanese state-owned oil company), among others. In August, 2005, Petrodar commenced production of oil in blocks 3 and 7 in South-east Sudan. In December, 2005, Petrodar announced that its first shipment of crude oil would be shipped from Sudan in January, 2006. Petrodar’s operations represent a major increase in overall Sudanese oil production.

In November 2005, Sinopec Group announced plans to partner with CNPC to purchase an oil field in Sudan, and has reportedly indicated an interest in expanding its business in Sudan.

From 2004 until 2008, Sinopec had also been the title sponsors of China’s largest sporting event, the Formula One Sinopec Chinese Grand Prix

In early 2007 Sinopec opened China’s first drive-thru petrol station and fast-food restaurant, in the Changping district of Beijing.