Tag Archives: China Petroleum & Chemical Corporation (Sinopec Limited)

Iraq, China Sign Deal for New Gas Field Development

China is making further inroads into Iraqi oil and gas by inking an initial agreement with Iraq’s state-owned Midland Oil Company to develop the Mansuriya gas field with a Chinese-Iraqi consortium. The already-producing Mansuriya field foresees production of 100 million standard cubic feet of gas over a period of 18 …

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China Maintains Fuel Export Quotas Steady for 2024

The first batch of fuel export quotas that China has issued for 2024 is basically unchanged from the first batch of allowances for 2023, Chinese consultancies and trading sources told Reuters on Friday. Chinese refiners are allowed to export diesel, gasoline, and jet fuel under strict quota regulations, with allowances …

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Sinopec Profits Shrink as Economic Woes Weigh on Fuel Demand

Sinopec’s first-half profits shrank amid lower oil prices and fuel demand being weighed down by China’s sluggish economic recovery. China Petroleum & Chemical Corp., as it’s officially known, posted net income of 36.12 billion yuan ($4.96 billion), according to international financial reporting standards. That compared with a revised 44.8 billion …

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