Sinochem Energy Co., Ltd. is a state-owned integrated oil and gas company headquartered in China. In 2020, it had USD 80.38 billion in revenue and a reported 60,049 employees*. Sinochem Energy is a leading petroleum and petrochemicals business operator and service provider in China. The company has been increasing its oil and gas output and discloses no low-carbon transition plan or targets.
Apart from the brief statement on Sinochem Energy’s website regarding its aims to “reduce impacts on environment from the company’s consumption, create a low-carbon life, and spread low-carbon life mission”, there is no evidence that the company has any emissions reduction ambition or targets. It has reported no targets for its scope 1 and 2 or scope 1, 2 and 3 emissions intensities.
There is not enough information available to assess Sinochem Energy’s performance on a low-carbon transition. The company needs to report a clear and detailed low-carbon transition plan to inform various stakeholders.
Sinochem Energy receives a trend score of -. If the company were reassessed in the near future, its score would likely decrease. With its heavy reliance on high emissions-intensive coking technology for its refining operations, the company is not on track to decarbonise and align with its 1.5°C pathway. Moreover, the company’s lack of transparency on its low-carbon business model and strategy indicates that it is unlikely to improve its performance.
Sinochem Energy provides a brief statement on its website that mentions its commitment to strengthen its environmental protection and emissions reduction, and drive a low-carbon mission. However, no evidence of any emissions reduction ambition or targets was found.
Sinochem Energy increased its reliance on relatively high emissions intensity coking technology for its refining increasing from 85% in 2018 to 100% of in 2019. It also decreased oil extracted from Brazil, but increased in the USA where is comparably more emissions-intense. The mix between the company’s midstream oil processing, which constitutes the majority of its product output, and its upstream oil and gas extraction has remained more or less constant.