Sinopec Reveals Scale of Green Investment in Report

Sinopec opens service of a comprehensive energy station in Guangzhou, the capital of Guangdong province, in early December. [Photo provided to chinadaily.com.cn]

China Petroleum & Chemical Corporation, also known as Sinopec, has invested 10.93 billion yuan ($1.72 billion) in green environmental protection during the last five years in Guangdong province, according to the company's social responsibility report.

The report, released on Tuesday in provincial capital Guangzhou, indicated Sinopec had accelerated its transformation to a comprehensive service provider of oil, hydrogen and electricity in Guangdong during the 13th Five-Year Plan (2016-20) period.

Specifically, the company has so far built nine oil and hydrogen joint-construction stations, 196 charging and battery swap sites and 155 photovoltaic power stations in Guangdong, helping it better build a comprehensive energy service network.

Most recently, the company began service for its 1,000th swap station and photovoltaic power generation site in Guangzhou in early December, as it vows to provide more green energy to help reduce carbon emissions in the years ahead.

Sinopec has developed 16 subsidiaries in Guangdong, an economic powerhouse in South China, with a network of more than 2,300 oil refueling stations across the province.

Over the past five years, Sinopec's Guangdong subsidiaries paid profits and taxes worth 336.18 billion yuan to the state and local governments.