China Petroleum and Chemical Corporation, with revenue of 3.32 trillion yuan in 2022, referred to as "Sinopec" or "Sinopec", is a very large petroleum and petrochemical enterprise group established by the state in July 1998 on the basis of the original China Petroleum and Chemical Corporation. It is a deputy ministerial-level central enterprise directly under the State-owned Assets Supervision and Administration Commission of the State Council. Sinopec Group is China's largest supplier of refined oil and petrochemical products and the world's largest oil refining company. Ranked 6th on the Fortune Global 500 list in 2023.