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

China has certified 147 million barrels of oil reserves in a new shale play operated by state energy giant Sinopec in the southwestern part of the country, as the world’s top crude oil importer look to boost domestic output. China Petroleum & Chemical Corporation, or Sinopec, as it is more …

Chinese state-controlled refining giant Sinopec has returned to buying Russian crude oil after halting purchases last month due to concerns about the U.S. sanctions on Russia’s oil trade and shadow tanker fleet imposed in January, trade sources told Reuters on Wednesday. Sinopec, the biggest refiner in Asia by processing capacity, …

China’s state oil major Sinopec reported a net profit of almost $7 billion for 2024, which represented a 16.8% decline on the year, attributed to lower oil prices and electric cars. “In 2024, international crude oil prices fluctuated downward, the domestic transportation industry accelerated the replacement of new energy … …

China’s authorities have certified 1.3 billion barrels of new reserves at Sinopec’s two shale plays in the eastern part of the country, the Chinese state-controlled giant said on Monday. The new shale oil reserves have been found at the Xinxing field in the Jiyang trough of the Bohai Bay basin …

China Petroleum & Chemical Corporation, or Sinopec, saw its refinery throughput drop by 2.03% in 2024 from a year earlier, the biggest Chinese refiner said on Friday. Sinopec’s refinery throughput fell to 252.3 million tons last year, amid an overall decline in Chinese crude processing rates, for the first time …

Sinopec Corp said on Monday that the company and Saudi Aramco have started constructing a refinery and petrochemical complex in southeast China’s Fujian province. The new venture includes a 16 million metric ton-per-year (tpy), or 320,000 barrels per day refinery, a 1.5 million tpy ethylene plant, a 2 million paraxylene …

A subsidiary of China’s energy giant Sinopec has signed a $1.3-billion deal with Saudi Aramco to procure and build pipelines for an expansion of the Kingdom’s natural gas distribution network, the Chinese firm said on Thursday. Under the turn-key fixed-price contract worth $1.3 billion (5.17 billion Saudi riyals), Sinopec International …

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 …

China’s state-owned energy giant Sinopec is in talks with Pembina Pipeline Corporation over buying a stake in a planned Canadian LNG project and an offtake agreement for LNG from the facility on the Pacific coast, Reuters reported on Monday, quoting unnamed sources familiar with the development. Pembina is a partner …

China Petroleum & Chemical Corporation, or Sinopec, has found oil and gas at a shale exploration well in the Sichuan province in the southwest, estimating that the initial flows could lead to the discovery of around 100 million metric tons of hydrocarbons. The Xingye-9 exploration well in the Chongqing municipality …