Sinopec opens first gas station in Macau
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.
