21-10-02 China Petroleum & Chemical Corporation, or Sinopec, announced the opening of its first gas station, Tongwa Gas Station, in Macau. The Tongwa Gas Station is located at Avenida 1(Degree) de Maio in the centre of Macau. The striking "Sinopec" logo already appears to be attracting people's attention. This is a significant step taken by Sinopec in building retail operations and in creating a brand image in Macau.
Mr Wang Jiming, President of Sinopec, commented, "Tongwa is the first gas station that is operating under the Sinopec logo overseas. We believe that the successful operation of the Tongwa Gas Station will have a significant impact on the company's market expansion and in creating a superior brand image."

The Tongwa Gas Station is jointly owned and operated by Sinopec (49 %) and Nam Kwong Petroleum & Chemical (51 %). The total investment is HK$ 30 mm. Sinopec is the largest energy and chemical company in China, with integrated upstream, midstream and downstream operations. The company is the first and only company in China to be listed in Hong Kong, New York, London and Shanghai.
The principal operations of Sinopec and its subsidiaries include: Exploring, developing, producing and trading crude oil and natural gas; processing crude oil into refined oil products; producing, trading, transporting, distributing and marketing refined oil products; and producing and distributing chemical products.

The company has been focussing on capturing earnings growth opportunities, optimising capital allocation and investments, improving technology, developing human resources, improving efficiency of resource utilization, and increasing competitive advantages. It has also been focussing on increasing ROACE and long-term development in an effort to improve shareholder value and return.
Its objective is to become a global, highly competitive, fully integrated energy and chemical company with first class assets, a diversified shareholder base, consistent technological innovation, scientific management and sound financial and accounting practices.