The Chinese Ministry of Commerce has recently met with representatives of around ten independent refiners to inquire about how much Russian crude oil the private refiners are importing and at what prices, sources familiar with the matter told Reuters on Friday. China is buying increased volumes of Russian crude as …
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Saudi Basic Industries Corp. (SABIC) signed a memorandum of understanding (MoU) with Saudi Arabian Oil Co. (Saudi Aramco) and China Petroleum & Chemical Corporation (Sinopec) to assess the economic and technical feasibility of developing an integrated petrochemical complex with a local refinery in Yanbu Industrial City. The MoU is valid …
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Sinopec has signed a framework agreement with Saudi Aramco to build a Phase II 16 million-ton-a-year refining project and 1.5 million-ton-year ethylene units in Gulei, Fujian. The project is expected to be completed and operating by the end of 2025, according to a press release by Sinopec. The Chinese company …
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China Petroleum & Chemical Corporation, Sinopec, announced a significant shale gas discovery in the country’s Sichuan basin in southwestern China on Tuesday. With a daily natural gas production of 258,600 cubic meters and an evaluated resource capacity of 387.8 billion cubic meters, Sinopec described the discovery as “a major breakthrough …
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