Sinopec to commence commercial production from refinery inFujian province
Wed. October 15, 2008; Posted: 04:20 AM
Oct 15, 2008 (M2 EQUITYBITES via COMTEX) --
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PowerRating -- China Petroleum and Chemical Corporation (Sinopec) (NYSE:SNP), a
petroleum company, is nearing completion of a refinery and ethanol
project in the Fujian province of China. The refinery will start
production early next spring.
According to Industrial Info Resources, Sinopec's Fujian branch has
completed approximately 92% of the construction.
The project's investors include Sinopec (50%), Saudi Arabia's
state-owned oil company Saudi Aramco (25%) and ExxonMobil Chemical
China, a subsidiary of ExxonMobil Corporation (NYSE:XOM), (25%).
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