|   | £ | REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|--------|------------------------------------------------------------------------------------------------|

|   | S | ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|---|---------------------------------------------------------------------------------------|

|   | FOR THE FISCAL YEAR ENDED DECEMBER 31, 2012 |
|--------|---------------------------------------------|

|   | £ | TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|--------|-------------------------------------------------------------------------------------------|

|   | £ | SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 |
|--------|--------|---------------------------------------------------------------------------------------------|

|   |   | DATE OF EVENT REQUIRING THIS SHELL COMPANY REPORT ____________ |
|--------|--------|----------------------------------------------------------------|

|   |   | FOR THE TRANSACTION PERIOD FROM ____________ TO  ____________ |
|--------|--------|------------------------------------------------------------------------------|

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| Title of Each Class                                                                      | Name of Each ExchangeOn Which Registered |
|------------------------------------------------------------------------------------------|------------------------------------------|
| American Depositary Shares, each representing100 H Shares of par value RMB1.00 per share | New York Stock Exchange, Inc.            |
| H Shares of par value RMB1.00 per share                                                  | New York Stock Exchange, Inc.*           |

| H Shares, par value RMB1.00 per share | 16,780,488,000 |
|---------------------------------------|----------------|
| A Shares, par value RMB1.00 per share | 70,039,798,886 |

| Yes X |   | No__ |
|-------|--------|------|

| Yes__ |   | No X |
|-------|--------|------|

| Yes X |   | No__ |
|-------|--------|------|

| Yes__ |   | No__ |
|-------|--------|------|

| Large accelerated filer X |   | Accelerated filer __ |   | Non-accelerated filer __ |
|---------------------------|--------|----------------------|--------|--------------------------|

| U.S. GAAP ___ |   | International Financial Reporting Standards Xas issued by the International AccountingStandards Board |   | Other ___ |
|---------------|--------|-------------------------------------------------------------------------------------------------------|--------|-----------|

| Item 17__ |   | Item 18__ |
|-----------|--------|-----------|

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| Yes__ |   | No X |
|-------|--------|------|

| Yes__ |   | No__ |
|-------|--------|------|

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| 1. | Scope of Non-Competition |
|----|--------------------------|

|   | 1.1. | The scope of non-competition under this Agreement refers to the principal businesses of Party B and any of its subsidiaries at any territory within and outside the PRC. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.2. | The principal businesses of Party B include: exploration, development, production and marketing of oil and natural gas; manufacture, marketing, storage and transportation of refined oil, petrochemical, chemical fiber, fertilizer and other chemical products; oil and natural gas pipeline transportation; imports and exports of oil, natural gas, oil products, petrochemical and other chemical products as well as other merchandizes and technologies, as well as providing agency services for such imports and exports; research, development and application of technologies and information. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 1.3. | Any change to the scope of non-competition provided under this Agreement will be subject to agreement separately made by the Parties. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------|

| 2. | Undertaking of Party A |
|----|------------------------|

|   | 2.1. | Party A undertakes that within the term of this Agreement and without prior written consent of the board of directors and independent directors of |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   |   |
|--------|--------|

|   | 2.2. | Party A shall immediately notify Party B of any business opportunity same with or similar to the principal businesses of Party B (the “Business Opportunity”) to its knowledge and use its best efforts to provide the Business Opportunity to Party B on the terms and conditions reasonably acceptable to Party B.  Upon receipt of the notice from Party A, Party B shall immediately decide whether or not it would accept the Business Opportunity notified by Party A.  If Party B decides to accept the Business Opportunity, it should notify Party A in a timely fashion. Party B will be deemed to have waived its preemptive right for the Business Opportunity if it fails to notify Party A within 30 days after its receipt of the notice from Party A or any other period agreed by the Parties. Party A may then engage in, develop, or operate such Business Opportunity at its discretion. |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

|   | 2.3. | Party A hereby grants an irremovable option for Party B to purchase, subject to provisions under Section 3 of this Agreement: |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------|

|   | a. | Any and all of the shares, assets, and equities of any business operated by Party A under Section 4 of this Agreement which is included in the principal businesses of Party B (the “Existing Business”); or |
|--------|----|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | b. | Any new business, project, product or technology developed or invested directly or indirectly by Party A beyond the restrictions provided by this Agreement which competes with the principal businesses of Party B (the “New Business”). |
|--------|----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 3. | Option |
|----|--------|

|   | 3.1. | Term of option.  The term of option means (i) in respect of Existing Business, five years as of the date of this Agreement, provided that the term of option regarding SINOPEC Star Petroleum Co., Ltd. is not limited to five years; and (ii) in respect of New Business, five years as of the date |
|--------|------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|   | 3.2. | Notice of preliminary intention.  Party B will issue a notice of preliminary intention to Party A setting forth any Existing Business or New Business it is interested to acquire any at time during the term of option before it exercises the option. |
|--------|------|-------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

|   | 3.3. | Assets appraisal.  Upon its receipt of the notice of preliminary intention, Party A will engage an appraiser acceptable to each of the Parties.   If the Parties fail to agree on the engagement of the appraiser within 30 days after issue of the notice of preliminary intention by Party B, Party A shall approve the appraiser engaged by Party B. The fees for appraisal shall be paid by Party B.  The base date of the appraisal is subject to agreement of the Parties.  The appraisal report will be subject to confirmation of the Ministry of Finance or any of its authorized departments and, once so confirmed, binding upon each of the Parties.  Party A shall provide the original appraisal report to Party B within ten days after such appraisal report is confirmed. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

|   | 3.4. | Report of auditor, independent financial advisor or any other professional consultant.  Auditors, independent financial advisors, overseas appraisers, independent technical advisors and/or other professional consultants will be engaged to review, appraise and issue report on the Existing Business or New Business if it is necessary to do so under laws or relevant exchange rules or in the opinion of board of directors of Party B to ensure exercise of the option at the price provided under Section 3.5 is fair and reasonable.  Party A will provide support and relevant materials to the advisors and consultants.  All fees and expenses of the advisors and consultants will be paid by Party B. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

|   | 3.5. | Price.  If Party B elects to exercise the option, the price to transfer any Existing Business or New Business will be determined based on the confirmed appraisal value and subject to agreement of the Parties in good faith and on arm’s length basis under the terms and conditions reasonably acceptable to Party B. |
|--------|------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   |   |
|--------|--------|

|   | 3.6. | Exercise notice.  Upon receipt of the confirmed appraisal report, the board of directors of Party B will effect internal review and approval |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 3.7. | Exercise of option.  The option will be adequately exercised if Party B pays the price at the amount and in the manner provided under the exercise notice and the purchase agreement separately made between the Parties, if any, and receives all necessary rights and interests of the Existing Business or New Business. |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3.8. | No exercise of option.  If Party B fails to exercise the option during the term of option, or elects not to exercise the option after it has issued the notice of preliminary intention, or is deemed to have waived the option, Party A may transfer, sell, lease, license or otherwise dispose of the Existing Business or New Business to any Third Person at the terms and conditions no favorable to those provided to Party B; provided, however, that if such terms and conditions will be favorable to those provided to Party B, Party A will make prior consultation with Party B to determine whether Party B still intends to exercise the option. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 4. | Existing Business within the PRC |
|----|----------------------------------|

|   | 4.1. | Party A undertakes that regarding any of the businesses which is included in the principal businesses of Party B but has not been transferred to Party B upon formation of Party B, the products from any of the three ethylene manufacturing enterprises of Maoming Petrochemical Company, Tianjin Petrochemical Company and Zhongyuan Petrochemical Co., Ltd. will be marketed by Party B on behalf of Party A pursuant to the marketing agreement made by Party A or any of its subsidiaries on one hand and Party B on the other hand; all of the oil products from refineries will be marketed by Party B.  For any of such businesses which compete with the principal businesses of Party B, Party A will make active efforts to |
|--------|------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   |   | renovate and improve such businesses to quality assets for which Party B may exercise option under Section 3 of this Agreement. |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------|

|   | 4.2. | Party A undertakes that any of the oil products marketing enterprises owned by Party A or any of its subsidiaries shall be subject to management of Party B so that consistent practices on products transportation, image, pricing, services, and qualities will be applied to those enterprises as well as the oil products marketing enterprises owned by Party B.  Such oil products marketing enterprises owned by Party A or any of its subsidiaries are only allowed to market the oil products provided by Party B so as to expand the market share of Party B’s oil products.  Party A will also make active efforts to regulate, renovate and improve such oil products marketing enterprises with the purpose of making them confirming to the listing criteria so that Party B may exercise option under Section 3 of this Agreement. |
|--------|------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 4.3. | Party B agrees that Party A will retain the petrochemical processing and chemical businesses which are currently operated by Party A.  Party A undertakes that none of such businesses constitutes completion with any of the principal businesses of Party B. |
|--------|------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 5. | Announcement |
|----|--------------|

| 6. | Information |
|----|-------------|

| 7. | Joint Liability |
|----|-----------------|

----

| 8. | Damages |
|----|---------|

| 9. | Term |
|----|------|

| 10. | Miscellaneous |
|-----|---------------|

|   | 10.1. | Any notice or other communication required under this Agreement will be in Chinese in writing and delivered by person or registered post to the address of or faxed to the facsimile number of the other Party.  The notice will be deemed effective: if delivered by person, on the same day when it is signed received by the designated person of the other Party; if by registered post, the 7th day after the registered post is paid (evidenced by the date of post stamp) or, if such date is on Saturday, Sunday or a public holiday, the immediately next business day; if delivered by facsimile, when the facsimile is completed. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

|   | 10.2. | If any provision under this Agreement is held illegal, invalid or unenforceable, it will not affect the legality, validity or enforceability of the remaining of this Agreement, unless such provision is closely related with any other provision under this Agreement. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.3. | Neither Party may transfer its rights and obligations under this Agreement without prior written consent of the other Party. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------|

|   | 10.4. | This Agreement and relevant documents referred to herein will constitute entire agreement and understanding between the Parties regarding the subject matter of this Agreement, and supersede all of their prior agreement and understanding, oral or written, regarding the subject matter hereof. |
|--------|-------|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.5. | Each of the Parties will make or execute, or cause to make or execute, any further actions or documents necessary to make the terms of this Agreement effective. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.6. | Unless otherwise provided, failure or delay to enforce any of its rights, powers or privileges under this Agreement by any Party does not operate as waiver of such rights, powers or privileges, and single or partial exercise of such rights, powers or privileges does not prevent exercise of any other rights, powers or privileges. |
|--------|-------|--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.7. | Any amendment to this Agreement will be executed by the Parties in agreement in writing. |
|--------|-------|------------------------------------------------------------------------------------------|

|   | 10.8. | Any attachment hereto is an integral part of this Agreement and has the same effect with this Agreement as if it is incorporated herein. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------|

|   | 10.9. | This Agreement is in eight counterparts, each of which has the same effect. |
|--------|-------|-----------------------------------------------------------------------------|

| 11. | Governing Law and Jurisdiction |
|-----|--------------------------------|

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|   | 11.1. | This Agreement is governed by and construed in accordance with the laws of the PRC. |
|--------|-------|-------------------------------------------------------------------------------------|

|   | 11.2. | Any dispute arising from or in connection with this Agreement will be resolved through negotiations of the Parties.  If the negotiations fail, either of the Parties may submit the dispute to Beijing Arbitration Commission for arbitration according to its arbitration rules then in effect.  The arbitrary award is final and binding upon each of the Parties. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| 12. | Definitions |
|-----|-------------|

|   | 12.1. | Unless otherwise defined under the context, in this Agreement: |
|--------|-------|----------------------------------------------------------------|

|   | 12.2. | Unless otherwise defined under the context, the “terms” and “sections” in this Agreement mean the terms and sections hereof. |
|--------|-------|------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 12.3. | If the context permits, reference to each of the Parties will include its legal successors and permitted assigns. |
|--------|-------|-------------------------------------------------------------------------------------------------------------------|

|   | 12.4. | The headings are for convenience only and will not affect interpretation of this Agreement. |
|--------|-------|---------------------------------------------------------------------------------------------|

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| For and on behalf ofChina Petrochemical Corporation/s/ Li Yizhong(company seal) |   | For and on behalf ofChina Petroleum & Chemical Corporation/s/ Wang Jiming(company seal) |
|---------------------------------------------------------------------------------|--------|---------------------------------------------------------------------------------------------|

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|   | 1. | Sinopec Corp. shall become the ultimate and sole platform that engages in oil and gas exploration and production, oil refining, chemicals, and sale of petroleum products after integration of these upstream, midstream and downstream businesses in Sinopec Group. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 2. | Sinopec Group will dispose of its minor remaining chemicals business within the next five years so as to avoid competition with Sinopec Corp. in chemicals business. |
|--------|----|----------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | 3. | Given that Sinopec Group engages in the same or similar businesses with Sinopec Corp. with regard to overseas oil and natural gas exploration and production, Sinopec Corp. would propose to acquire overseas oil and gas assets owned by Sinopec Group (the “Assets”) when it is appropriate to do so after thorough analysis of political and economic considerations. Sinopec Group undertakes to transfer the Assets to Sinopec Corp. subject to compliance with then applicable laws and regulations, contractual obligations and other procedural requirements. |
|--------|----|-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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----

|   | China Petroleum & Chemical Corporation |
|--------|--------------------------------------------|
|   |                                       |   |
|   | By:                                        | /s/ HUANG, Wensheng |
|   |                                       |   |
|   | Name:                                 | HUANG, Wensheng |
|   |                                       |   |
|   | Title:                                     | Secretary to the Board of Directors |