Annual Report 2012

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Financial Statements (International) NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) for the year ended 31 December 2012 17 PROPERTY, PLANT AND EQUIPMENT (Continued) The Company - by segment 158 Annual Report 2012 CHINA PETROLEUM & CHEMICAL CORPORATION Exploration Marketing Corporate and and and production Refining distribution Chemicals others Total RMB millions RMB millions RMB millions RMB millions RMB millions RMB millions Cost: Balance at 1 January 2011 437,174 171,307 94,814 139,946 11,421 854,662 Additions 2,340 41 1,627 19 116 4,143 Transferred from construction in progress 46,302 18,221 11,598 2,054 1,721 79,896 Transferred from subsidiaries — — 7,278 — — 7,278 Transferred to subsidiaries — — (72) — (33) (105) Reclassification — 2,435 97 (2,314) (218) — Reclassification to lease prepayments and other assets — (42) (2,382) (6) (2) (2,432) Disposals (1,174) (2,490) (2,175) (2,120) (325) (8,284) Balance at 31 December 2011 484,642 189,472 110,785 137,579 12,680 935,158 Balance at 1 January 2012 484,642 189,472 110,785 137,579 12,680 935,158 Additions 2,350 9 923 24 10 3,316 Transferred from construction in progress 52,727 11,063 10,041 4,282 930 79,043 Transferred to subsidiaries (13,836) (269) (96) (283) — (14,484) Contributed to a jointly controlled entity — (3) — (268) — (271) Reclassification 358 3,282 1,039 (5,995) 1,316 — Reclassification to lease prepayments and other assets — (32) (8,695) (127) (1,142) (9,996) Disposals (2,102) (2,474) (1,198) (1,742) (105) (7,621) Balance at 31 December 2012 524,139 201,048 112,799 133,470 13,689 985,145 Accumulated depreciation: Balance at 1 January 2011 205,304 89,249 32,738 86,677 3,824 417,792 Depreciation charge for the year 30,155 8,613 5,218 5,502 873 50,361 Transferred from subsidiaries — — 1,324 — — 1,324 Transferred to subsidiaries — — (15) — (13) (28) Impairment losses for the year 2,153 72 241 282 1 2,749 Reclassification (3) 2,516 4 (2,512) (5) — Reclassification to lease prepayments and other assets — (1) (326) — — (327) Written back on disposals (1,114) (2,275) (1,785) (2,046) (318) (7,538) Balance at 31 December 2011 236,495 98,174 37,399 87,903 4,362 464,333 Balance at 1 January 2012 236,495 98,174 37,399 87,903 4,362 464,333 Depreciation charge for the year 33,319 9,363 6,060 5,651 903 55,296 Transferred to subsidiaries (2,149) (137) (32) (172) — (2,490) Contributed to a jointly controlled entity — (1) — (218) — (219) Impairment losses for the year 1,006 — 8 — — 1,014 Reclassification 2,933 731 (1,092) (3,262) 690 — Reclassification to lease prepayments and other assets — (2) (2,191) (20) — (2,213) Written back on disposals (1,867) (1,599) (884) (1,546) (97) (5,993) Balance at 31 December 2012 269,737 106,529 39,268 88,336 5,858 509,728 Net book value: Balance at 1 January 2011 231,870 82,058 62,076 53,269 7,597 436,870 Balance at 31 December 2011 248,147 91,298 73,386 49,676 8,318 470,825 Balance at 31 December 2012 254,402 94,519 73,531 45,134 7,831 475,417
NOTES TO THE FINANCIAL STATEMENTS (CONTINUED) for the year ended 31 December 2012 17 PROPERTY, PLANT AND EQUIPMENT (Continued) The Group - by asset class Equipment, Oil and gas, machinery Building properties and others Total RMB million RMB million RMB million RMB million Cost: Balance at 1 January 2011 66,253 421,600 579,958 1,067,811 Additions 196 2,421 2,041 4,658 Transferred from construction in progress 5,282 46,701 37,649 89,632 Reclassification (1,987) 16 1,971 — Reclassification to lease prepayments and other assets (598) — (1,870) (2,468) Exchange adjustments (62) (1,372) (98) (1,532) Disposals (608) (188) (8,646) (9,442) Balance at 31 December 2011 68,476 469,178 611,005 1,148,659 Balance at 1 January 2012 68,476 469,178 611,005 1,148,659 Additions 369 2,848 1,121 4,338 Transferred from construction in progress 4,445 44,829 48,509 97,783 Contributed to a jointly controlled entity — — (271) (271) Reclassification 15,696 (65,498) 49,802 — Reclassification to lease prepayments and other assets (1,740) — (8,393) (10,133) Exchange adjustments (2) (69) (1) (72) Disposals (1,029) — (8,189) (9,218) Balance at 31 December 2012 86,215 451,288 693,583 1,231,086 Accumulated depreciation: Balance at 1 January 2011 33,044 204,555 289,512 527,111 Depreciation charge for the year 2,531 31,560 28,164 62,255 Impairment losses for the year 37 2,153 591 2,781 Reclassification 47 14 (61) — Reclassification to lease prepayments and other assets (21) — (309) (330) Exchange adjustments (25) (523) (38) (586) Written back on disposals (525) (167) (7,816) (8,508) Balance at 31 December 2011 35,088 237,592 310,043 582,723 Balance at 1 January 2012 35,088 237,592 310,043 582,723 Depreciation charge for the year 2,757 30,293 35,130 68,180 Impairment losses for the year — 1,006 8 1,014 Contributed to a jointly controlled entity — — (219) (219) Reclassification (2,864) (16,645) 19,509 — Reclassification to lease prepayments and other assets (158) — (2,110) (2,268) Exchange adjustments — (32) — (32) Written back on disposals (333) — (6,948) (7,281) Balance at 31 December 2012 34,490 252,214 355,413 642,117 Net book value: Balance at 1 January 2011 33,209 217,045 290,446 540,700 Balance at 31 December 2011 33,388 231,586 300,962 565,936 Balance at 31 December 2012 51,725 199,074 338,170 588,969 159 CHINA PETROLEUM & CHEMICAL CORPORATION Annual Report 2012 Financial Statements (International)
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CONTENTS 2 Company Profile 3 Princi
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PRINCIPAL FINANCIAL DATA AND INDICA
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2 FINANCIAL INFORMATION EXTRACTED F
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(2) Information disclosed by the sh
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Sinopec Corp.’s development accel
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Business Review and Prospects BUSIN
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MANAGEMENT’S DISCUSSION AND ANALY
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The following table shows the opera
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In 2012, refining margin was RMB 15
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As at 31 December 2012, the Company
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(2) Financial data prepared under A
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(2) THE PROPOSED ISSUANCE OF A SHAR
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Significant Events SIGNIFICANT EVEN
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CONNECTED TRANSACTIONS 1 AGREEMENTS
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Decision-making procedures: The maj
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Corporate Governance CORPORATE GOVE
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REPORT OF THE BOARD OF DIRECTORS Th
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6 DIVIDEND During this report perio
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16 RISK FACTORS In the course of it
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Firstly, the Board of Directors dil
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DIRECTORS, SUPERVISORS, SENIOR MANA
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Li Chunguang Dai Houliang Liu Yun L
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The Members of the Fourth Session o
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Zou Huiping Zou Huiping, aged 52, S
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The Members of the Fourth Session o
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Lei Dianwu Ling Yiqun Lei Dianwu, a
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THE BREAKDOWN ACCORDING TO THE MEMB
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REPORT OF THE PRC AUDITOR All Share
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BALANCE SHEET as at 31 December 201
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INCOME STATEMENT for the year ended
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CASH FLOW STATEMENT for the year en
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STATEMENT OF CHANGES IN EQUITY for
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NOTES TO THE FINANCIAL STATEMENTS (
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Page 109 and 110: NOTES TO THE FINANCIAL STATEMENTS (
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Page 139 and 140: CONSOLIDATED BALANCE SHEET as at 31
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Page 145 and 146: NOTES TO THE FINANCIAL STATEMENTS f
Page 159: NOTES TO THE FINANCIAL STATEMENTS (
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Page 193 and 194: (C) DIFFERENCES BETWEEN FINANCIAL S
Page 195 and 196: (D) SUPPLEMENTAL INFORMATION ON OIL
Page 198 and 199: Corporate Information CORPORATE INF
Page 200: Confirmation from fhe Directors and
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Annual Report 2012

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