SINOPEC Zhejiang Oil Products Company was first founded in 1950, and then renamed Petroleum Corporation of Zhejiang Province in 1990. The company was rearranged under SINOPEC in Aug. 1998, and was restructured in April 2000, according to SINOPEC Corp.’s unified arrangement. Its main business, assets and all staff were under the control of SINOPEC Corp. and thus SINOPEC Zhejiang Oil Products Company was set up.

SINOPEC Zhejiang Oil Products Company  (hereinafter referred to as Zhejiang Oil Products Company) is the largest enterprise dealing with finished oil in the province. Its business scope includes: sales and storage of petroleum and its products, natural gas, petrochemical products, chemical fiber and other chemical products.

The operating units or business outlets of the company spread all over the province. It owns perfect facilities for oil storage and transportation. The company has 29 oil depots of strategic importance, with a total storage volume of 1000,000 m3. It has a network of  around 1,900 gas station, furthermore, it has accomplished the pipe-transportation line for finished oil laying from Zhenhai to Hangzhou and from Jinshan to Jiaxing to huzhou.

By the end of 2008, its total assets reached RMB7.576billion with over 17,000 employees. In 2008, the company sold over 12.27 million tons of finished oil. The sales net income was RMB71.1billion. All economic indices of the company have continuously ranked first in SINOPEC’s Sales Company.

Under the leadership and encouragement of SINOPEC and the local governments, Zhejiang Oil Products Company will double its efforts in 2006. With its reformed management and better business performance, the company will constantly provide the reliable energy resource to the growing economy of Zhejiang Province, and make greater contribution to the development of SINOPEC.