2024 Oil and Chemical Companies Ranking Revealed: Top 500 Sales Revenue Hits Record High, Top 100 Competitiveness Debuts, Three Giants Lead the Pack

On September 12, 2024, in the press conference of the Top 500 petroleum and chemical enterprises' sales revenue in 2024 held in Dongying City, Shandong Province, a number of important lists were officially announced, including the top 500 petroleum and chemical enterprises' sales revenue in 2024, the top 100 sales revenue by industry, and the top 100 competitiveness of enterprises.

At this conference, China Petroleum and Chemical Corporation Limited, China National Petroleum Corporation Limited, and China Sinochem Holdings Limited Liability Company respectively ranked the top three on the sales revenue list with their excellent sales performance. It is particularly striking that the list of the top 100 competitive oil and chemical enterprises in 2024 was released for the first time this year, with China National Offshore Oil Corporation Limited, Wanhua Chemical Group Co., LTD., and China National Petroleum Corporation Limited taking the leading positions in the list.

Li Shizhong, former Vice Minister of the Ministry of Chemical Industry, pointed out at the meeting that after a long time of exploration and practice, the chemical industry has successfully achieved the deep integration of the two platforms of the Chemical 500 and the creation of world-class enterprises. He stressed that in the future, we should make full use of the platform of the Chemical 500 conference to further promote the creation of world-class enterprises, in-depth demonstration and promotion, value creation and brand leading activities, and create a strong atmosphere of full participation and co-creation of achievements.

Wang Shugang, honorary president of China Chemical Enterprise Management Association, introduced the current development trend of China's chemical industry enterprises at the meeting. He pointed out that on the whole, the development of China's large chemical enterprises is better than the average level of the whole industry, and has shown four major trends: significant improvement of economic benefits and efficiency, accelerated transformation to comprehensive industrial groups, continuous improvement of industrial agglomeration, and increasing international influence year by year. However, he also reminded that compared with the world's well-known enterprises, China's large chemical enterprises still have a certain gap in economic benefits, research and development capabilities, social reputation and brand influence, especially in the "big but not strong", "all but not excellent" problems still need to be overcome. To this end, he called for accelerating the construction of a set of scientific and perfect enterprise evaluation index system with the characteristics of China's chemical industry, so as to guide enterprises to pay more attention to the "gold content" of business results and promote the in-depth implementation of enterprise management improvement actions.

Li Shousheng, former president of the China Petroleum and Chemical Industry Federation and director of the Steering Committee of the petroleum and chemical Industry to accelerate the construction of world-class enterprises, stressed at the meeting that the list of the top 500 chemical companies not only represents the latest achievements of the industry's innovation and development and the latest level of change and transformation, but also an important cornerstone for China to move from a chemical power to a chemical power. He asked the top 500 enterprises in the industry to seriously benchmark the standards of world-class enterprises, comprehensively find their own gaps, and focus on the four core areas of enterprise strategy, products, operating efficiency and economic benefits, as well as users and market services for continuous improvement and promotion.

Zeng Jian, former executive deputy secretary of the Party Committee of the State-owned Assets Supervision and Administration Commission of the State Council, former Executive Deputy secretary of the Party Committee of the Petrochemical Federation, deputy director of the Steering Committee of the petroleum and chemical industry to accelerate the construction of world-class enterprises, also spoke at the meeting. He stressed that it is necessary to give full play to the publicity and promotion role of the Chemical 500 conference platform, actively share the successful experience of industry enterprises, help enterprises in the whole industry to carry out benchmarking management activities, and constantly improve the level of enterprise management and development quality.

Sun Weishan, a member of the Standing Committee of the Party Committee and vice president of the Petrochemical Federation, said at the meeting that the industry should vigorously cultivate leading petroleum and chemical enterprises as one of the key tasks to create world-class enterprises. He asked the industry to present current and long-term goals and develop detailed work plans to facilitate the smooth progress of the creation. At the same time, he also called on the industry to fully carry out core competitiveness benchmarking activities of world-class enterprises to continuously narrow the gap with internationally renowned chemical enterprises. In addition, he also stressed the importance of giving play to the individual role of entrepreneurs and strengthening the construction of enterprise system and culture, believing that only by integrating the forces of all parties into a smart collective can we jointly promote the sustainable development of the industry.

This conference is jointly sponsored by Sinochemical Enterprises Association and Dongying City Government, aiming to promote the sustainable and healthy development of the entire industry by displaying the style and achievements of outstanding enterprises in the industry.