China's second-largest refining and gas company is trying to get a little greener in the new decade. In 2009, China Petrochemical Corp., also known as Sinopec Group, cut its CO2 emissions by 16.3%, meeting its energy-saving goal a year earlier than planned. The company is also actively exploring alternative and renewable energy sources.

But it's fossil fuels that boost the bottom line, and Sinopec is likely to get a little relief from Beijing's ease on gasoline price controls, which had been raised several times in the last year to reflect higher costs in the oil industry.