Chinese oil industry veteran Fu Chengyu leads Asia's biggest oil refiner. State-controlled Sinopec accounts for half of total Chinese refining capacity and is also a major petrochemical
producer. Sinopec is one of the few companies licensed to develop China's domestic oil and gas reserves, but the bulk of revenues come from refining and selling oil products inside
China. Sinopec will likely face more international competition as the government opens domestic energy markets to comply with World Trade Organization rules.