Chronicle for Sinopec Group    

Sinopec Group, China's largest petrochemical manufacturer, with its majority business under its subsidiary - China Petroleum & Chemical Corporation (Sinopec Corp.).  Sinopec Group holds 75.84% equity in Sinopec Corp.
    Sinopec Corp. has an ethylene capacity of 6.17 million t/a as of the end 2007 (including the capacities of two joint venture). It is constructing four new ethylene crackers - 1.0 million t/a ethylene unit in Tianjin, the 800 000 t/a ethylene project in Fujian, the 1.0 million t/a ethylene project in Zhenhai Refining and Chemical Co., Ltd. and the 800 000 t/a ethylene project in Wuhan. Sinopec Corp.'s income was RMB1 044.579 billion in 2006 (RMB799.115 billion in 2005). Its net profit was RMB50.664 billion in 2006, a year-on-year increased of 28.08%.
    During 2006 to 2007, Sinopec Group has been actively promoted the development in an all around way. CCR organized its chronicle here for your reference, which will include the following segments - Agreement, Project Progress, Acquisition, Appointment and Others.

  Agreement

   February 8th, 2006: Sinopec Corp. and China Ocean Shipping (Group) Company (Cosco Group) signed long-term cooperation agreements on the shipment of imported crude oil and oil products supply.
   April 16th, 2006: Sinopec Group signed an agreement on cooperation with Petrobras of Brazil to accelerate expedition of offshore oil.
   April 22nd, 2006: Sinopec Group and Saudi Aramco signed a Memorandum of Understanding on the collaboration in the areas of crude oil treating and commercial storage, natural gas exploration and production, petroleum products and petrochemicals derivatives.
   April 27th, 2006: Shanghai Petrochemical Co. Ltd., a subsidiary of Sinopec Group signed an agreement with BOC to form a 50/50 industrial gases joint venture in Shanghai.
   June 6th, 2006: Sinopec Group signed a contract with China Cinda Asset Management Corporation and China Orient Asset Management Corporation for buying equity in Beijing Dongfang Petrochemical Company Ltd. for a cost of RMB3.303 billion.
   June 20th, 2006: Sinopec Group and Iran Oil Exploration Services Company singed a contract on exploration and development of the Garmsar oil block, Semnan, Iran.
   July 10th, 2006: Sinopec Corp. and BASF signed a US$500 million agreement to expand their joint chemical Verbund site in Nanjing, Jiangsu province.
   September 20th, 2006: Sinopec Tianjin Petrochemical Company Ltd. and Bohai Chemical Industry Group signed a product supply agreement.
   October 12th, 2006: Sinopec Corp. signed a joint operation contract with Shengjun International Investment Co., Ltd. to increase investment together in Hainan Refinery.
    November 8th, 2006: Sinopec Corp. signed a Framework Agreement on Bio-energy with Chengdu Municipal Government of Sichuan province to build jointly a 600 000 t/a fuel alcohol project and a 100 000 t/a bio-diesel facility during 2006-2010.
   November 14th, 2006: Sinopec Fujian Refining & Chemical Co., Ltd. signed a frame agreement for around RMB96 million with ABB that will supply both power and automation products to Sinopec's Fujian refining and ethylene integrated project.
   December 7th, 2006: Sinopec Corp. and Xinjiang Autonomous Government signed a framework agreement that Sinopec will develop coal, oil shale and coalbed methane in Xinjiang.
   January 22nd, 2007: Sinopec Group and CNPC reached an agreement on the joint development of oil/gas resources in the Tarim Basin, Xinjiang.
   March 30th, 2007: Sinopec Group, Fujian Provincial Government, ExxonMobil and Aramco of Saudi held an inauguration ceremony, to mark the formal government approval of Joint Venture Contracts and granting of business licenses for their two joint ventures - Fujian Refining & Petrochemical Company Ltd. and Sinopec SenMei (Fujian) Petroleum Company Ltd.
    April 13th, 2007: Sinopec Corp. and China National Cereals, Oils & Foodstuffs Corporation (COFCO) signed an agreement on jointly developing bio-energy and bio-chemicals.
    May 2nd, 2007: Sinopec Group signed an agreement with Anhui Provincial Government to readjust its industrial structure and practice technical renovations through its subsidiaries, located in Anhui province.
    June 11th, 2007: Sinopec Corp. singed a strategic cooperation agreement with China Communication Construction Company Ltd. (1800.HK) on asphalt supply.
    September 20th, 2007: Sinopec Corp. and DuPont Packaging & Industrial Polymers (P & IP) formed a joint venture to produce ethylene vinyl acetate resins in China.
    September 28th, 2007: Sinopec Corp. and Guizhou Development and Reform Commission signed an agreement on the joint development of bio-diesel from small tung tree.
    October 19th, 2007: Sinopec Corp. signed a strategic cooperative agreement with Chery Automobile to jointly establish a strategic cooperation partnership combining both sides' resources.
    December 2007: Sinopec Corp. and Kuwait Petroleum Company was approved by the National Development and Reform Commission to launch a feasibility study on building a joint venture refining and petrochemical complex in Nansha, Guangzhou, Guangdong province in southern China.

  Project Progress  

    June 26th, 2006: Sinopec Group started construction on the ethylene and matching projects in Tianjin.
    July 28th, 2006: Shanghai Sinopec Mitsui Chemicals Co., Ltd. held a ground breaking ceremony for the 120 000 t/a bisphenol A unit in Shanghai Chemical Industry Park.
    July 28th, 2006: The 640 000 t/a ethylene cracking unit, a core facility in the ethylene expansion project (from 360 000 t/a to 1.0 million t/a) in Sinopec Maoming Petrochemical Company Ltd., completed intermediate handing-over and started production preparations in Guangdong province.
   September 17th, 2006: Sinopec Maoming Petrochemical Company Ltd. successfully conducted wet commissioning on the 640 000 t/a ethylene cracking unit in Maoming, Guangdong province.
    November 6th, 2006: Sinopec Zhenhai Refining & Chemical Company Ltd. started construction on the 1 million t/a ethylene project in Ningbo, Zhejiang province.
    March 23rd, 2007: Sinopec Yangzi Petrochemical Co., Ltd. and BP Corporation of the UK formally started the construction on the 500 thousand t/a acetic acid project in Nanjing, Jiangsu province.

  Acquisition

    March 6th, 2006: Sinopec Corp. started to acquire its four listed subsidiaries including Qilu Petrochemical Company Ltd., Yangzi Petrochemical Company Ltd., Zhongyuan Oil/Gas Co., Ltd. and Sinopec Shengli Oil Field Dynamic Group Co., Ltd. from March 8th, and close on April 6th, 2006.
    June 20th, 2006: Sinopec Group acquired 96.8% equity of Udmurtneft from TNK-BP.
    December 7th, 2006: Sinopec Corp. announced to acquire the whole oil business owned by Shengli Oil Administration Bureau, a subsidiary of Sinopec Group Company - the controlling shareholder of Sinopec Corp.
    April 19th, 2007: Sinopec Corp. (0386.HK) signed a definitive agreement with China Resources Enterprise Limited (HKEx: 0291), on Sinopec Corp. acquiring 100% equity in China Resources Petrochems Investment Limited, with a cash consideration of