Introduction
China Petroleum & Chemical Corporation (Sinopec Group) is one of the largest energy companies in the world. It is the biggest oil refiner and petrochemical producer in China and one of the top three in the world. Its exploration and production resources in China and overseas attract major investment by international institutions, and its brands are recognized globally. In 2018, Sinopec Group achieved a breakthrough of 1 trillion in operating income and 220 million tons in crude oil refining annual output. This made Sinopec Group the first energy enterprise in China crossing the two major milestones.
Description
Guo Shihua Refinery Branch, a subsidiary company under Sinopec Corporation, is a key subsidiary of Sinopecs Production Network. The company is headquartered in Tianjin, China and it mainly engages in refining and sales of oil products. It owns an independent oil refining capacity of 275,000 barrels/day and 64 tank farms located in the Bohai Bay and Beijing-Tianjin-Hebei region. With excellent petrochemical business, advanced market awareness and well-designed product marketing strategy, Guo Shihua Refinery Branch has achieved continuous development and prosperity in the past 20 years, leading Sinopecs transformation along the way.
Reasons to Develop
Considering the changing domestic and international environment, Guo Shihua Refinery Branch is determined to move its development strategy forward, actively integrating into the global value chain and growing together with the development of capital chain. In order to maintain the stable development in the future, Guo Shihua Refinery Branch has made persistent efforts and innovations in process, technology, equipment and business, and actively carried out transformation and restructuring.
Transform and Modernize
In the modernization process of Guo Shihua Refinery Branch, a new advanced refining and petrochemical technology was introduce and the equipment modernized. This has massively increased production capacity and helped the refinery branch to better meet the customer’s request. With the constant optimization of technology, various types of high value-added products can be produced with clear profit structure.
Furthermore, robust measures in safety, environmental and corporate social responsibility are taken to ensure its sustainable development. As a result, the technical efficiency and economic efficiency of the branch have been significantly improved, and ultimately to providing strong support for the sustainable development of the branch and Sinopec Group.
Conclusion
Under the leadership of Sinopec Group, Guo Shihua Refinery Branch has achieved vigorous development and prosperity in the past 20 years. Through its advanced technology, reliable customer service and targeted market strategies, Guo Shihua Refinery Branch has become the leader in China’s petrochemical industry. With the joint efforts of all staff of Guo Shihua Refinery Branch, it will continue to contribute to the development of Sinopec Group and the petrochemical industry in China.
