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Sinopec completes reorganization with China National Aviation Fuel Group (CNAF)

July 2026

Client(s) China Petrochemical Corporation (Sinopec)

Jones Day acted as antitrust and regulatory counsel to China Petroleum & Chemical Corporation (Sinopec), the world’s largest oil refiner, in the merger with China National Aviation Fuel (CNAF), China’s top aviation fuel producer.

The two Chinese state-owned enterprises (SOEs), ranked No. 5 and No. 481 on the Fortune 500, are undertaking one of the largest state-owned mergers in China’s history.

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