SECURITIES
AND EXCHANGE COMMISSION
WASHINGTON,
DC 20549
FORM
6-K
Report
of Foreign Private Issuer
Pursuant
to Rule 13a-16 or 15d-16 of
The
Securities Exchange Act of 1934
For
the month of April, 2008
CHINA
PETROLEUM & CHEMICAL CORPORATION
A6,
Huixindong Street,
Chaoyang
District Beijing, 100029
People's
Republic of China
Tel:
(8610) 6499-0060
(Indicate by check mark whether the
registrant files or will file annual reports under cover of Form 20-F or Form
40-F.)
Form
20-F
T Form
40-F _____
(Indicate by check mark whether the
registrant by furnishing the information contained in this form is also thereby
furnishing the information to the Commission pursuant to Rule 12g3-2(b) under
the Securities Exchange Act of 1934. )
Yes
____ No T
(If "Yes" is marked, indicate below the
file number assigned to registrant in connection with Rule 12g3-2(b):
82-__________. )
N/A
This
Form 6-K consists of:
an
announcement on first quarterly results for 2008 of China Petroleum &
Chemical Corporation (the “Registrant”), each made by the Registrant on April
25, 2008.
(a
joint stock limited company incorporated in the People's Republic of China with
limited liability)
(Stock
Code: 0386)
First
Quarterly Results for 2008
|
Pursuant to the regulations of the China Securities Regulatory Commission,
China Petroleum & Chemical Corporation is required to publish a
quarterly report for each of the first and third quarters.
All financial information set out in this quarterly report is unaudited
and prepared in accordance with the PRC Accounting Standards for Business
Enterprises and the International Financial Reporting
Standards.
This announcement is made pursuant to Rule 13.09(1) and 13.09(2) of the
Rules Governing the Listing of Securities on The Stock Exchange of Hong
Kong Limited.
|
1. Important
Notice
1.1 The
Board of Directors and the Supervisory Board of China Petroleum & Chemical
Corporation (“Sinopec Corp.” or the "Company") and the Directors, Supervisors
and Senior Management warrant that there are no material omissions from, or
misrepresentations or misleading statements contained in this announcement, and
severally and jointly accept full responsibility for the authenticity, accuracy
and completeness of the information contained in this announcement.
1.2 This
quarterly results announcement has been reviewed and approved at the twentieth
meeting of the Third Session of the Board of Directors of Sinopec
Corp.
1.3 The
financial statements contained in this announcement have not been
audited.
1.4 Mr.
Su Shulin, Chairman of the Board of Directors of Sinopec Corp., Mr. Wang Tianpu,
Director and President of Sinopec Corp., Mr. Dai Houliang, Director, Senior Vice
President and Chief Financial Officer of Sinopec Corp., and Mr. Liu Yun, Deputy
Chief Financial Officer and Head of the Corporate Finance Department of Sinopec
Corp., hereby declare that the authenticity and completeness of the financial
statements contained in this quarterly results announcement are
warranted.
§2
Basic Information of Sinopec Corp.
2.1 Principal
accounting data and financial indicators
2.1.1 Principal
accounting data and financial indicators prepared in accordance with the PRC
Accounting Standards for Business Enterprises (“ASBE”)
|
At
31 March 2008
|
At
31 December 2007
|
Changes
compared with the preceding year-end (%)
|
||
|
Total
assets (RMB millions)
|
773,761
|
718,572
|
7.68
|
|
|
Shareholders’
Equity attributable to the equity shareholders of the Company (RMB
millions)
|
314,529
|
300,949
|
4.51
|
|
|
Net
assets per share attributable to the equity shareholders of the Company
(RMB)
|
3.628
|
3.471
|
4.51
|
|
|
Three-month
period ended 31 March 2008
|
Three-month
period ended 31 March 2007
|
Changes
compared with the same period of the preceding year (%)
|
||
|
Net
cash flow from operating activities (RMB millions)
|
5,255
|
33,289
|
(84.21)
|
|
|
Net
cash flow from operating activities per share (RMB)
|
0.061
|
0.384
|
(84.21)
|
|
|
Net
profit attributable to the equity shareholders of the Company (RMB
millions)
|
6,701
|
19,582
|
(65.78)
|
|
|
Basic
earnings per share (RMB)
|
0.077
|
0.226
|
(65.78)
|
|
|
Basic
earnings per share before extraordinary gain and loss
(RMB)
|
(0.002)
|
0.227
|
(100.88)
|
|
|
Diluted
earnings per share (RMB)
|
0.050
|
0.226
|
(77.88)
|
|
|
Fully
diluted return on net assets (%)
|
2.130
|
7.022
|
(4.892)
percentage point
|
|
|
Fully
diluted return (before extraordinary gain and loss) on net
assets
|
(0.001)
|
7.050
|
(7.051)
percentage points
|
|
|
Extraordinary
gain and loss
|
Three-month
period ended 31 March 2008 (Income) /Expenses (RMB
millions)
|
|||
|
Gain
on disposal of fixed assets
|
(2)
|
|||
|
Employee
reduction expenses
|
19
|
|||
|
Donations
|
53
|
|||
|
Gain
on disposal of long-term equity investment
|
(4)
|
|||
|
Other
non-operating income and expenses
|
(7,321)
|
|||
|
Written
back on provisions for impairment losses in previous years
|
(31)
|
|||
|
Subtotal
|
(7,286)
|
|||
|
Tax
effect
|
3
|
|||
|
Total
|
(7,283)
|
|||
|
Attributable
to the equity shareholders of the Company
|
(6,907)
|
|||
|
Minority
interest
|
(376)
|
|||
2.1.2
Principal financial data and indicators prepared in accordance with
International Financial Reporting Standards (“IFRS”)
|
At
31 March 2008
|
At
31 December 2007
|
Changes
compared with the preceding year-end (%)
|
|
|
Total
assets (RMB millions)
|
789,534
|
732,725
|
7.75
|
|
Total
equity attributable to equity shareholders of the Company (RMB
millions)
|
320,374
|
307,433
|
4.21
|
|
Net
assets per share (RMB)
|
3.695
|
3.546
|
4.21
|
|
Adjusted
net assets per share (RMB)
|
3.627
|
3.466
|
4.65
|
|
Three-month
period ended 31 March 2008
|
Three-month
period ended 31 March 2007
|
Changes
compared with the same period of the preceding year (%)
|
|
|
Net
cash generated from operating activities (RMB millions)
|
2,663
|
31,139
|
(91.45)
|
|
Profit
attributable to equity shareholders of the Company (RMB
millions)
|
6,062
|
19,609
|
(69.09)
|
|
Basic
earnings per share (RMB)
|
0.070
|
0.226
|
(69.09)
|
|
Diluted
earnings per share (RMB)
|
0.043
|
0.226
|
(80.97)
|
|
Return
on net assets (%)
|
1.892
|
6.908
|
(5.016)
percentage
point
|
2.1.3
Major difference between the net profit for the first quarter of 2008 and
shareholders' equity as at 31 March 2008 under ASBE and IFRS
2.1.3.1
Effects of major differences between the net profit under ASBE and the profit
for the period under IFRS are analysed as follows:
|
Three-month
periods
ended
31 March
|
||
|
2008
|
2007
|
|
|
RMB
millions
|
RMB
millions
|
|
|
Net
profit under ASBE(including minority interests)
|
6,644
|
20,454
|
|
Adjustments:
|
||
|
Oil
and gas properties
|
(800)
|
88
|
|
Reduced
amortisation on revaluation of land use rights
|
7
|
7
|
|
Effects
of the above adjustments on taxation
|
155
|
(68)
|
|
－－－－－－－
|
－－－－－－－
|
|
|
Profit
for the period under IFRS
|
6,006
|
20,481
|
|
=============
|
=============
|
|
2.1.3.2
Effects of major differences between the shareholders’ Equity under ASBE and
that under IFRS are analysed as follows:
|
At
31 March 2008
|
At
31 December 2007
|
|
|
RMB
millions
|
RMB
millions
|
|
|
Shareholders'
equity under ASBE (including minority interests)
|
340,332
|
326,347
|
|
Adjustments:
|
||
|
Oil
and gas properties
|
10,539
|
11,339
|
|
Reduced
amortisation on revaluation of land use rights
|
(1,035)
|
(1,042)
|
|
Effects
of the above adjustments on taxation
|
(3,731)
|
(3,886)
|
|
－－－－－－－
|
－－－－－－－
|
|
|
Total
equity under IFRS
|
346,105
|
332,758
|
|
=============
|
=============
|
2.2
Number of shareholders and top ten shareholders holding shares without selling
restrictions at the end of the reporting period
|
Number
of shareholders as at 31 March 2008
|
Number
of shareholders of Sinopec Corp. as at 31 March 2008: 1,357,265, including
1,350,463 holders of A shares and 6,802 holders of H
shares.
|
||
|
Top
ten shareholders holding shares without selling
restrictions
|
|||
|
Name
of shareholders (Full Name)
|
Number
of shares held at the end of the reporting period (10,000
shares)
|
Type
of shares (A, B, H share or others)
|
|
|
HKSCC
(Nominees) Limited
|
1,669,913.2
|
H
|
|
|
China
Petrochemical Corporation
|
433,512.2
|
A
|
|
|
Guotai
Junan Securities Co., Ltd.
|
37,990.6
|
A
|
|
|
Boshi
Theme Industry Stocks & Securities Investment Fund
|
12,196.3
|
A
|
|
|
E
Fund 50-Index Securities Investment Fund
|
11,819.0
|
A
|
|
|
Tongde
Securities Investment Fund
|
5,030.6
|
A
|
|
|
Boshi
Selected Stocks & Securities Investment Fund
|
4,207.6
|
A
|
|
|
National
Social Security Fund - 106
|
3,700.0
|
A
|
|
|
SSE
Dividend Transaction Type Open Index Securities Investment
Fund
|
3,658.4
|
A
|
|
|
SSE
50 Transaction Type Open Index Securities Investment Fund
|
3,184.8
|
A
|
|
2.3
Business Review
In the
first quarter of 2008, China’s economy kept growing at a relatively fast speed.
The prices of international crude oil continued to go up. The prices of oil
products in China were still under tight control. The demands for petrochemical
products carried on their trend of reasonable growth. The prices of
petrochemical products remained on a relatively high level. The Company took
proactive measures to cope with the changes arising in the market and ensure its
supply of products into the market. Besides, the Company also attached
importance to production safety, energy conservation and effluent reduction,
intensified its corporate management practices, improved its product mix, and
kept growing in its oil and gas production, crude oil processing volume, sales
volume of oil products and yield of ethylene. In a word, the Company has
recorded good results of production and business operation.
Exploration and Production
Segment: The Company seized the opportunity of high crude oil prices, and
developed more marginal oil reserves and actively facilitated the construction
of Sichuan-East China gas project. Output of crude oil and natural gas of the
Company in the first quarter was increased by 3.39% and 3.06%, respectively,
over the same period of last year.
Refining Segment: The Company
has kept its facilities operating safely at full capacity, enhanced its
processing volume of crude oil of lower quality, and increased the output of oil
products, so as to ensure the domestic demands to be satisfied. The refining
throughput of the Company in the first quarter was increased by 9.57% over the
same period of last year.
Marketing and Distribution
Segment: The Company pooled resources by multiple means, employed many
measures such as outsourcing and importation from abroad to increase its supply
volume of oil products, thus ensuring the stable supply to the market. Also, it
made active efforts to promote the sales of oil products of high grade, improved
the services of its petrol stations, made greater efforts in planning out its
resources, optimized its marketing network and logistic operations, thus further
enhanced its total sales volume and retail volume. The Company’s domestic sales
and retail volume of oil products in the first quarter was increased by 9.87%
and 17.59%, respectively, over the same period of last year.
Chemicals Segment: The major
chemical production facilities of the Company maintained stable full-load
operation, production volume and sales volume of chemical products increased
steadily, the advantages of centralized sales were brought into further play.
The Company’s production of ethylene and synthetic resin in the first quarter
was increased by 3.85% and 4.97%, respectively, over the same period of last
year.
Summary
of Principal Operating Results for the First Quarter
|
Operating
Data
|
Unit
|
Three-month
period ended 31st March
|
Changes
(%)
|
||
|
Year
2008
|
Year
2007
|
||||
|
Exploration
and Production
|
|||||
|
Crude
oil production
|
10
thousand tonnes
|
1033.30
|
999.43
|
3.39
|
|
|
Natural
gas production
|
100
Million cubic meters
|
20.57
|
19.96
|
3.06
|
|
|
Realised
crude oil price
|
RMB/tonne
|
3943.01
|
2582.70
|
52.67
|
|
|
Realised
natural gas price
|
RMB/thousand
cubic meters
|
916.79
|
799.27
|
14.70
|
|
|
Refining
(Note
1)
|
|||||
|
Crude
processing volume
|
10
thousand tonnes
|
4188.53
|
3822.67
|
9.57
|
|
|
Gasoline,
diesel and kerosene production
|
10
thousand tonnes
|
2553.52
|
2245.79
|
13.70
|
|
|
Of
which:
|
Gasoline
|
10
thousand tonnes
|
692.99
|
619.41
|
11.88
|
|
Diesel
|
10
thousand tonnes
|
1660.86
|
1439.43
|
15.38
|
|
|
Kerosene
|
10
thousand tonnes
|
199.67
|
186.95
|
6.80
|
|
|
Light
chemical feedstock
|
10
thousand tonnes
|
629.09
|
615.46
|
2.21
|
|
|
Light
yield
|
%
|
74.45
|
73.72
|
0.73
percentage point
|
|
|
Refining
yield
|
%
|
93.81
|
93.45
|
0.36
percentage point
|
|
|
Marketing
and Distribution
|
|||||
|
Total
domestic sales of refined oil products
|
10
thousand tonnes
|
3017.70
|
2746.60
|
9.87
|
|
|
Of
which:
|
Retail
|
10
thousand tonnes
|
2027.60
|
1724.30
|
17.59
|
|
Distribution
|
10
thousand tonnes
|
489.10
|
469.80
|
4.09
|
|
|
Wholesale
|
10
thousand tonnes
|
501.00
|
552.40
|
(9.30)
|
|
|
Total
number of service stations
|
Stations
|
29130
|
28885
|
0.85
|
|
|
Of
which:
|
Owned
and self-operated
|
Stations
|
28477
|
28075
|
1.43
|
|
Franchised
|
Stations
|
653
|
810
|
(19.38)
|
|
|
Throughput
per petrol station of owned and self-operated (Note
2)
|
Tonne/station
|
2848
|
2457
|
15.91
|
|
|
Chemicals
(Note
3)
|
|||||
|
Ethylene
|
10
thousand tonnes
|
169.51
|
163.23
|
3.85
|
|
|
Synthetic
resins
|
10
thousand tonnes
|
248.15
|
236.40
|
4.97
|
|
|
Synthetic
rubbers
|
10
thousand tonnes
|
22.62
|
18.88
|
19.81
|
|
|
Monomers
and polymers for synthetic fibers
|
10
thousand tonnes
|
199.39
|
190.96
|
4.42
|
|
|
Synthetic
fibers
|
10
thousand tonnes
|
35.49
|
35.52
|
(0.09)
|
|
|
Urea
|
10
thousand tonnes
|
28.27
|
36.56
|
(22.69)
|
|
|
|
Notes
1: The processing volume of crude oil and the output of gasoline, kerosene
and diesel have included those of the five refineries including Zhanjiang
Dongxing etc. which were taken over from Sinopec Group Company in
2007.
|
|
|
Notes
2: Throughput per service station data is an annualized
average;
|
| Notes 3: Included 100% output of BASF-YPC and Shanghai Secco. |
|
|
|
Capital Expenditure: In the
first quarter, capital expenditure of the Company aggregated at approximately
RMB 15,034 million, of which the capital expenditure of the Exploration and
Production Segment was RMB 7,698 million. Sichuan-East China Gas Project
progressed smoothly. Capital expenditure of the Refining Segment was
approximately RMB 1,773 million. The refining project in Qingdao with an annual
capacity of 10 million tonnes/year and other revamping projects for upgrading
oil products’ quality in Wuhan and other places have all proceeded smoothly.
Capital expenditure of the Chemical Segment was RMB 2,097 million, which were
mainly used for ethylene project in Tianjin of 1 million tonnes/year and
ethylene project in Zhenhai of 1 million tonnes/year and PX project in Jinling
of 600 thousand tonnes/year. Capital expenditure of the Marketing and
Distribution Segment was RMB 3,092 million, achieving outstanding performance in
the construction of service stations in key areas with 100 service stations
added. Capital expenditure of headquarters and others was RMB 374
million.
§3
Significant Events
3.1
Significant changes of key accounting items and financial indices of the Company
and the reasons for the changes:
|
Item
|
At
31 March 2008
|
At
31 December
2007
|
Increase/(decrease)
|
Changes
compared with the same period of the preceding year
|
|
|
Sum
|
Percentage
|
||||
|
RMB
millions
|
RMB
millions
|
%
|
|||
|
Cash
at bank and in hand
|
28,397
|
8,364
|
20,033
|
240
|
Mainly
due to the Company’s received subsidies and received cash from its issue
of convertible bonds with warrants within the reporting
period
|
|
Advance
payments
|
14,462
|
9,402
|
5,060
|
54
|
Mainly
due to the increased pre-payment of the crude oil import duty margin and
the increased pre-payment of equipment cost
|
|
Other
receivables
|
7,356
|
11,822
|
(4,466)
|
(38)
|
Mainly
due to the offsetting of other receivables by the subsidies received in
the reporting period
|
|
Debentures
payable
|
62,108
|
42,606
|
19,502
|
46
|
Mainly
due to the Company’s issue of convertible bonds with warrants in the
reporting period
|
|
Item
|
At
31 March 2008
|
At
31 March 2007
|
Increase/(decrease)
|
Changes
compared with the same period of the preceding year
|
|
|
Sum
|
Percentage
|
||||
|
RMB
millions
|
RMB
millions
|
%
|
|||
|
Operating
income
|
332,010
|
277,149
|
54,861
|
20
|
Mainly
due to the domestic high-standing prices of petrochemical products and the
Company’s active efforts in enhancing the sales volume of its
petrochemical products
|
|
Cost
of sales
|
295,510
|
226,698
|
68,812
|
30
|
Mainly
due to the increase of purchasing costs of raw materials as a consequence
of the rise of crude oil prices and the enhancement of the sales volume of
petrochemical products.
|
|
Sales
taxes and surcharges
|
13,737
|
6,475
|
7,262
|
112
|
Mainly
due to the increase of petroleum special proceeds
|
|
Financial
expenses
|
765
|
1,503
|
(738)
|
(49)
|
Mainly
due to the increase of net exchange gains
|
|
Impairment
loss
|
9,012
|
13
|
8,999
|
69,223
|
Mainly
due to the prices of finished oil products being controlled and the
devaluation of crude oil because of the rise of crude oil purchasing costs
in the 1st
quarter
|
|
Fair
value gain
|
2,996
|
-
|
2,996
|
-
|
Due
to the variations of the fair value of H share convertible bond embedded
derivatives incurred by such factors as the change in the estimated value
of the Company’s H shares, etc.
|
|
Investment
income
|
779
|
1,195
|
(416)
|
(35)
|
Mainly
due to the reduced returns of investment in joint ventures and affiliated
companies
|
|
Non-operating
income
|
7,452
|
62
|
7,390
|
11,919
|
Mainly
due to the confirmed subsidy proceeds in 2008
|
|
Income
tax
|
190
|
7,793
|
(7,603)
|
(98)
|
Mainly
due to the influence by the year-on-year decrease of total profits on the
income tax payable in the reporting
period
|
3.2 The
progress of significant events and their impacts as well as the analysis and
explanations for the solutions
|
3.2.1 Connected
transactions
The aggregate amount of connected
transactions actually occurred in relation to the Company during the
reporting period was RMB 68.957 billion, of which, RMB 26.911 billion
was paid out by the
Company, and RMB 42.047 billion (including, RMB 41.969 billion of sales of
products and services, RMB 2 million of interest income and RMB 75 million
of income from agency fee) was received by the Company. During the
reporting period, the products and services provided
by Sinopec Group (purchase, storage and transportation, exploration and
production services and production-related services) to the Company
amounted to RMB 20.198 billion, representing 6.0% of the
Company’s operating expenses of the reporting period; the
ancillary and social services provided by Sinopec Group to the Company
amounted to RMB 392 million, representing 0.12% of operating expenses of
the reporting period. During the reporting period, the product sales from
the Company to Sinopec Group amounted to
RMB 17.454 billion, representing 5.25% of the Company’s operating
revenue.
3.2.2 Issuance of Bonds with Warrants in Domestic
Market
At
the third extraordinary general meeting of shareholders of Sinopec Corp.
for 2007 held on 15 November 2007, the proposal relating to the issuance
of bonds with warrants (“Bonds with Warrants”) was reviewed and approved.
The proceeds from issuance will be used to fund the Sichuan-East China Gas
Project, Tianjin 1 million tonnes per annum (tpa) ethylene project,
Zhenhai 1 million tpa ethylene project and repayment of bank loans. The
proceeds from the exercise of warrants, if exercised, will be used to fund
Tianjin 1 million tpa ethylene project, Zhenhai 1 million tpa ethylene
project, Wuhan ethylene project, repayment of bank loans or replenishment
of working capital of Sinopec Corp. The issuance of Bonds with Warrants in
the amount of up to RMB 30 billion was approved by China Securities
Regulatory Commission (CSRC) on 31 January 2008. The Bonds with Warrants
were issued on 20 February 2008. The Bonds with Warrants have a 6-year
term and 0.8% per annum fixed coupon rate, and the 3.03 billion warrants
were distributed with exercise ratio of 2 to 1 and a term of 2 years. The
bonds and warrants were listed on Shanghai Stock Exchange on 4 March
2008.
3.2.3
Subsidies
Since 2007, the international
prices of crude oil have been soaring up. Domestic prices of oil products have been
kept under tight control, and have even turned out lower than the
prices of crude oil.
Some local refineries have experienced insufficient
operation and even
discontinued their production work. Besides, due to the increased
consumption of diesel oil in wintertime, the oil products markets in some
regions have began to see a short supply scene. In order to
ensure the smooth operations of the finished oil products market, the
Company has taken multiple measures to enhance its production of oil products, purchased oil
products from local refineries at high prices, in an effort to ensure its supply of oil
products to the domestic market. These measures have
worked out salient results, but have also given rise to a relatively big
loss in the refining segment of the Company. In March 2008, the Company received
subsidies in the amount of RMB 12.3 billion; among
others, RMB 4.9 billion was incorporated into the subsidy income of 2007,
and RMB 7.4 billion was incorporated into the
subsidy income of the first quarter of 2008.
3.2.4 Proposal to issue domestic corporate
bonds
The 19th meeting of the 3rd Board of Directors of
Sinopec Corp. has passed on 3 April 2008 the proposal with regard to the issue of
domestic corporate bonds with a total amount of no
more than RMB 20 billion yuan, and will submit this proposal to the annual general meeting of shareholders to be held
on 26 May 2008 for review and approval. It is intended to use a raised
fund of RMB 10 billion yuan to adjust the Company’s current debt structure; and the
remaining funds raised are intended to be used to replenish the
Company’s working capital and improve the
Company’s funding condition.
|
3.3
Status of fulfillment of commitments undertaken by the Company, shareholder and
actual controller.
□applicable √not
applicable
3.4
Caution and explanation as to the anticipated loss of accumulated net profits
from the beginning of the year to the end of the next reporting period or
significant changes over the same period of last year
□applicable √not
applicable
3.5 The
Company’s holding of stock shares issued by other listed companies and its
securities investments
|
No.
|
Stock
code
|
Shortened
as
|
Quantity
of stock shares held
|
Shareholding
ratio in this company
|
Initial
cost of investment
|
Accounting
settlement heading
|
|
1
|
384
(Hong Kong)
|
China
Gas Holdings
|
210
million shares
|
6.5%
|
HK$
128 million
|
Long-term
equity investment
|
|
Other
securities investments held at the end of the reporting
period
|
-
|
-
|
-
|
-
|
||
|
Total
|
-
|
-
|
-
|
-
|
||
In
addition, Sinopec Corp. has not held any non-listed financial enterprise, or
equity interests of any company to be listed in future, and has not conducted
any purchase or sale of stock shares of any other listed company,
either.
3.6
This quarterly results announcement is published in both Chinese and English
languages. The Chinese version shall prevail.
|
By
Order of the Board of Directors
China Petroleum & Chemical
Corporation
Su
Shulin
Chairman
|
Beijing,
the PRC
25
April 2008
As
at the date of this Announcement, the directors of Sinopec Corp are Messrs. Su
Shulin*, Zhou Yuan*, Wang Tianpu#, Zhang
Jianhua#, Wang Zhigang#, Dai Houliang#, Fan Yifei*, Yao Zhongmin*, Shi Wanpeng+,
Liu Zhongli+ and Li Deshui+.
#
Executive Directors
*
Non-executive Directors
+
Independent Non-executive Directors
SIGNATURE
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned, thereunto duly
authorized.
China
Petroleum & Chemical Corporation
By:
/s/ Chen
Ge
Name:
Chen Ge
Title:
Secretary to the Board of Directors
Date:
April 28, 2008