Sinopec's US operations grow branches
Updated: 2016-04-21 22:38
By May Zhou in Houston(China Daily USA)
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Zhang Jixing, president at Sinopec America and chief representative |
Since coming to the US in 1988 as a trading company, Sinopec's operation has developed considerably in 28 years. Now there are eight subsidiaries doing business from upstream to downstream.
Zhang Jixing, president at Sinopec America and chief representative at Sinopec USA's representative office since August 2015, summarized its 2015 US operation in a nutshell: "In 2015, we produced 2.36 million tons of crude oil, and traded 13.71 million tons of crude oil and oil products. Our 2015 revenue was $12.5 billion."
Zhang is leading Sinopec America Inc, an umbrella management company created to consolidate and supervise all the US subsidiaries of parent oil and gas company Sinopec Group, No. 2 on the list of Fortune Global 500.
"In the past, the eight subsidiaries operated independently of each other. With our long and complete production chain here in the US, we found it necessary to consolidate our resources for our sustainable development here," said Zhang.
Zhang said that Sinopec America functions as a consolidated platform with one voice, one policy, one name and one brand.
"Previously, when people wanted to do business with Sinopec, they were confused as to who to talk to because each subsidiary represents itself and part of Sinopec, but not Sinopec. Now, people can come to me and I will direct them to the proper one," said Zhang.
Beginning last year, Sinopec's subsidiaries scattered in different locations in Houston and New York started to move to Sinopec's office building in Houston.
Acquired in 2014, the high-rise building is in the prestigious business and financial district Galleria. The move is expected to be completed in late 2016.
Zhang said five divisions have been created for Sinopec America to coordinate its US operations: administration, legal and risk control, accounting, human resources and strategy and branding.
"Our function is to consolidate and optimize all the resources in the states, ensure compliance of regulations, and provide support to all the subsidiaries so that they can focus on business development," he said.
In house and an arbitrator at China's International Economic and Trade Commission, Zhang joined Sinopec in 1985 and has had well-rounded experience in the company.
For the past three decades he worked in various areas: legal consul, finance and accounting, international trade and business, project management, foreign affairs and legal management.
Prior to coming to Houston, Zhang was director general at Sinopec's legal department for five years. He was named one of "Top Eight General Consuls'' by Asian Business Law in 2013. Due to his efforts, Sinopec was selected the Best Chinese "In House Team of the Year" for five consecutive years by China Law & Practice magazine. Sinopec's legal department was also ranked No 1 among China's large State-owned enterprises (SOEs).
Zhang is not a stranger to Houston. "I worked in Houston in the late 1980s. The city has not changed much. To me a lot of things are just like a recall."
Zhang had worked as deputy director general at Sinopec's foreign affairs department for a decade. He dealt with top senior international oil executives and governmental officials. The experience gave him an edge in bringing Sinopec's US operations to a new level.
Among China's SOEs, Sinopec America as an umbrella management company is a first.
"I do feel somewhat pressured because there is no prior model. It's a new path we are exploring. If we succeed in creating an efficient platform with integrated resources, we can replicate the model for our operations in other regions around the world," said Zhang who is optimistic about the new direction Sinopec is taking.
Besides internal management, another major task for Zhang is to promote Sinopec in the US. Zhang has representing Sinopec at various business events in Seattle and New York during President Xi Jinping's visit in September 2015. He also has met with local and federal officials on various occasions.
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