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

State-owned Chinese firm Sinopec signed a new 27-year liquefied natural gas (LNG) supply and purchase agreement with QatarEnergy, the two companies said on Saturday. Under the agreement, the two companies will cooperate on the second phase of the Gulf Arab state’s North Field expansion project, which will supply 3 million …

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 …

Chinese oil giant Sinopec has begun producing green hydrogen at a plant in Xinjiang, using solar power to electrolyse water, the company announced on Friday. The facility is Sinopec’s first green hydrogen plant and has the capacity to produce 20,000 metric tonnes of hydrogen a year, it said in a …

Chinese petroleum giant Sinopec signed an agreement with Sri Lanka on Monday to enter the South Asian island country’s retail fuel market as it struggles to resolve a worsening energy crisis amid an unprecedented economic upheaval. The contract agreement would enable Sinopec 386, -0.39% to import, store, distribute and sell …

China Petroleum & Chemical Corporation (“Sinopec”) has initiated the drilling of Project Deep Earth 1-Yuejin 3-3XC Well on May 1 in the Tarim basin, Xinjiang Uyghur Autonomous Region. With a design depth of 9,472 meters, it will be the deepest oil and gas well in Asia and a breakthrough of …

Sinopec and TotalEnergies SE are among companies holding talks to invest in the Jafurah development in Saudi Arabia, according to people familiar with the matter, as the kingdom seeks to exploit one of the world’s largest untapped gas fields. The Chinese and French energy giants are in separate discussions with …

China’s Sinopec will take a stake in the eastern expansion of Qatar’s North Field liquefied natural gas (LNG) project, state energy company QatarEnergy said on Wednesday. The state-owned Chinese gas giant will take a 5 percent stake in the equivalent of one North Field East LNG train with a capacity …

Sinopec, China’s oil and chemical giant, is set to build the first ‘West to East’ green hydrogen transmission line in the country, according to a report in state media. The company will construct a 400km pipeline from Inner Mongolia’s Ulanqab to Beijing to transfer hydrogen from renewable energy projects in …

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 …

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 …