Sinopec Willing to Double Foreign Investment to More Than $30 Billion

China`s giant state-owned oil and gas firm Sinopec is planning to splash big money into a continued expansion abroad to shore up access to energy resources as Beijing touts its main foreign policy initiative.
Sinopec expects to boost foreign investment to more than $30 billion. Dai Liqi. director of the firm`s foreign cooperation office. told CNBC. That could mean double the $16 billion the firm spent between 2010 and 2015 in outward investment targeted in 30 countries. where the firm has 50 different projects. Dai. however. didn`t specify the time frame for the increased investment.
 

About core

Check Also

Oil Extends Losses as Weak Demand Outlook Lingers

Oil prices fell on Tuesday as bleak economic data from top crude buyer China renewed …

Leave a Reply

Your email address will not be published.