SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 6-K
Report of Foreign Private Issuer
Pursuant to Rule 13a-16 or 15d-16 of
The Securities Exchange Act of 1934
For the month of December, 2005
CHINA PETROLEUM & CHEMICAL CORPORATION
A6, Huixindong Street,
Chaoyang District Beijing, 100029
People's Republic of China
Tel: (8610) 6499-0060
(Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.)
Form 20-F T Form 40-F
--------- ---------
(Indicate by check mark whether the registrant by furnishing the
information contained in this form is also thereby furnishing the information
to the Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act
of 1934. )
Yes No T
--------- ---------
(If "Yes" is marked, indicate below the file number assigned to
registrant in connection with Rule 12g3-2(b): 82-__________. )
N/A
This Form 6-K consists of:
The announcement of one-off governmental compensation received by China
Petroleum & Chemical corporation (the "Registrant"), made by the Registrant in
English on December 27, 2005.
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
China Petroleum & Chemical Corporation
By: /s/ Chen Ge
-----------
Name: Chen Ge
Title: Secretary to the Board of Directors
Date: December 27, 2005
[GRAPHIC OMITTED]
(a joint stock limited company incorporated in the People's Republic of China
with limited liability)
(Stock Code: 0386)
Announcement of one-off Governmental Compensation
The international prices of crude oil continued to rise in 2005 and maintained
at a high level. This created a distortion of the correlation of domestic
refined oil product prices and the crude oil prices. China Petrochemical
Corporation ("Sinopec Group Company") recently received notice from the
Ministry of Finance (Caiqi [2005] No. 298) that the Ministry of Finance will
provide Sinopec Group Company a one-off compensation of RMB10 billion, of
which China Petroleum & Chemical Corporation and its subsidiaries, (the
"Company") will receive a one-off compensation of RMB 9.415 billion. The
compensation will be recorded as part of the total profits of the Company for
2005 (before tax) and will be subject to profits tax.
This announcement is made pursuant to Rule 11 of the Listing Rules of the
Shanghai Stock Exchange.
By Order of the Board
China Petroleum & Chemical Corporation
Chen Ge
Secretary to the Board of Directors
Beijing, PRC, 27 December 2005
As at the date of this announcement, the executive directors of Sinopec Corp.
are Messrs. Chen Tonghai, Wang Jiming, Mou Shuling, Zhang Jiaren, Cao
Xianghong; the non-executive directors of Sinopec Corp. are Messrs. Liu
Genyuan, Gao Jian and Fan Yifei; the independent non-executive directors of
Sinopec Corp. are Messrs. Chen Qingtai, Ho Tsu Kwok Charles, Shi Wanpeng and
Zhang Youcai; and the employee representative director of the Sinopec Corp. is
Mr. Cao Yaofeng.