Sinopec (China Petroleum & Chemical Corporation)

In 2026, Sinopec, China's largest state-owned petroleum and petrochemical corporation, became connected to a U.S. Department of Justice investigation involving a suspended Los Angeles lawyer who received substantial payments. The case, prosecuted by the U.S. Attorney's Office for the Central District of California, resulted in the lawyer being sentenced to more than seven years in federal prison for receiving $21 million in suspicious payments. While details of Sinopec's specific role remain under investigation, the case highlighted the complex web of international business relationships in the global energy sector.

Sinopec had been expanding its international operations throughout the 2010s and 2020s, including significant investments in African oil and gas projects. As China's energy demands grew and the country sought to secure petroleum resources globally, Chinese state-owned enterprises like Sinopec became major players in international energy markets. The company's business model involved not only domestic refining and petrochemical production but also upstream exploration and production partnerships worldwide, often facilitated through complex legal and financial arrangements.