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SINOPECChina Petrochemical Corporation
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After receiving the alarm, the company immediately launched a corporate-level contingency plan to report to the relevant departments of China's Sinopec and local governments.
In an e-mailed statement, Sinopec said it would start from April to centralise refined fuel purchasing to balance supply, cut costs and boost efficiency, without giving details of the plan.
Sinopec is selling as much as a 30 percent stake in the unit, Sinopec Sales Co.
Sinopec, Asia's largest refiner, is selling up to 30 per cent of its marketing and distribution unit, which includes a wholesale business, more than 30,000 petrol stations, over 23,000 convenience stores, as well as oil-product pipelines and storage facilities.
The deal was sealed between Sinopec Oilfield Service Company (SOSC), Weatherford and Shengli Highland, a JV between Weatherford and a Sinopec unit that manufactures drilling tools.
Sinopec will have a 10-percent stake and Huaidan will have 5 percent.
It not only [ills the country's INA production gap, but also opens a new chapter for the strategic alliance between SINOPEC and BASF.
Moody's Investors Service has assigned a provisional (P)3 rating to the proposed bonds to be issued by Sinopec Group Overseas Development (2013) Limited and guaranteed by China Petrochemical Corporation (Sinopec Group).
State-owned Sinopec will buy a one-third share in the Egyptian oil and natural gas business of US firm Apache, the companies said.
CRT: How much influence does Sinopec have over Chinese government policy toward Iran and the US?
SINOPEC Engineering is the core engineering subsidiary of SINOPEC, one of China's largest oil refining and petrochemical companies.