MOSCOW (MRC) -- Chinese petroleum Corporation Sinopec for the first time in the last 40 years, began refining oil imported from USA, reported US News.
This was reported by news portal Sina. According to him, a tanker with 42,000 tons of oil moored at the port of Zhanjiang (Guangdong province, South China) on 7 may.
As MRC wrote previously, Russian petrochemical company Sibur is in talks with shareholder Sinopec about investing in a planned gas chemical plant in Russia's Far East, said Reuters, citing Sibur boss Dmitry Konov, in early April 2016. Sibur plans to buy gas from fields which Russia's Gazprom will develop in Eastern Siberia. He said a subsidiary of the Chinese firm, Sinopec Engineering Group, may also take part in constructing the plant.
In December 2015, Sinopec paid USD1.338 billion for a 10% stake in Sibur and said it planned to acquire an additional 10% within three years.
Sinopec Corp. is one of the largest scale integrated energy and chemical company with upstream, midstream and downstream operations. Its principal business includes: exploring, developing, producing and trading crude oil and natural gas; producing, storing, transporting and distributing and marketing petroleum products, petrochemical products, synthetic fiber, fertilizer and other chemical products. Its refining capacity and ethylene capacity rank No.2 and No.4 globally. Sinopec listed in Hong Kong, New York, London and Shanghai in August 2001. Sinopec Group, the parent company of Sinopec Corp., is ranked the 5th in Fortune Global 500 in 2012.
MRC