Sinopec Group definition

Sinopec Group means China Petrochemical Corporation, a state-owned petroleum and petrochemical enterprise that was incorporated in July 1988;
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Sinopec Group. Sinopec Group Company, its subsidiaries and its associated companies and affiliates, including the Group, or where the context so requires, any two or more members of such group; “Sinopec Group 中國石油化工集團公司 (China Petrochemical Corporation), a Company” State-owned enterprise established in the PRC which holds approximately 55.06% shareholding in the issued share capital of Sinopec Corp.;
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Examples of Sinopec Group in a sentence

  • For the year ended 31 December 2019, the Group's transaction of leasing equipment from the Sinopec Group was only for the lease of Exploration IV Drill Rig.

  • Following the receipt of quotations from Sinopec Group and other independent equipment demanders, the Leasing Center will compare and negotiate the terms of quotations with these demanders, and select such consumer by taking into account factors such as price quotations, equipment status, particular needs of the parties to the transactions, performance capability etc.

  • Except for the lease of Exploration IV Drill Rig, the Group has not leased any other equipment from Sinopec Group in 2019 and during the period from 1 January 2020 to the date of this announcement.

  • Effective 1 January 2000, Sinopec Group Company and Sinopec Corp.

  • The Company expects that the proposed annual caps of the rental involved in the lease of equipment by the Group to Sinopec Group takes into account the following factors: the type and scale of the equipment of the Group that is under downtime and idle due to insufficient workload, and the current rental market price of the equipment.

  • According to the Mutual Supply Agreement, Sinopec Group Company agrees to provide the Company supply services, storage and transportation services, ancillary production services and financial services, and Sinopec Corp.

  • On 25 August 2020, the Company entered into the Equipment Leasing Framework Agreement with China Petrochemical Corporation, pursuant to which, the Group agreed to lease equipment to and from Sinopec Group during the period from the Agreement Effective Date to 31 December 2021.

  • After consideration of the historical expenses, the new cap amount for the annual expenditures for the provision of products and services by the Sinopec Group to the Company under the Community Services Agreement is proposed to be reduced from the existing cap, 3% of the total operating expenses, to 2% of the Company's total operating expenses.

  • Huade is a sino-foreign equity joint venture whose 70% registered capital is held by the Group through KII and the remaining 30% registered capital is held by GPC (which is a wholly owned subsidiary of Sinopec Group Company).

  • Regarding authorised lands for operation owned by members of the Sinopec Group, lands for industrial use are leased to the Company for a term of 50 years and lands for commercial use for 40 years.

Related to Sinopec Group

  • Group Companies means the Companies and the Subsidiaries and “Group Company” means any one of them;

  • Minority or Women-Owned Business Enterprise means a business enterprise, including a sole proprietorship, partnership or corporation that is:

  • Disadvantaged Business Enterprise (DBE) means a small business concern pursuant to ORS 200.005(1), which is at least 51 percent owned by one or more socially and economically disadvantaged individuals, or, in the case of any corporation, at least 51 percent of the stock of which is owned by one or more socially and economically disadvantaged individuals and whose management and daily business operations are controlled by one or more of the socially and economically disadvantaged individuals who own it.

  • DBS Group means any of DBS’s subsidiaries, DBS’s holding company and any subsidiaries of DBS’s holding company;

  • Women Owned Business Enterprise or "WBE" means a firm awarded certification as a women owned and controlled business in accordance with City Ordinances and Regulations as well as a firm awarded certification as a women owned business by Cook County, Illinois. However, it does not mean a firm that has been found ineligible or which has been decertified by the City or Cook County.