Chinese major Sinopec reports drop in profits amid rapid rise in natural gas demand offset by chemicals losses
China Petroleum and Chemical Corp. (Sinopec), the leading Chinese refiner and an importer of LNG from Australia, the US, Qatar and elsewhere and with expanding import facilities and storage, reported a drop in net profits of nearly 9 percent as a “rapid” first-quarter increase in natural gas demand was offset by oil refining costs and losses in chemicals.
Chinese major Sinopec to expand energy flows with a strategy focused on shale E&P and LNG and gas storage
China Petroleum and Chemical Corp. (Sinopec), a leading importer of LNG from Australia, the US and Qatar and with expanding import facilities and storage infrastructure, has announced sizeable natural gas and oil flows from a strategic shale project in southwest China.
China's Sinopec extends Arab world presence with Algeria accord after Qatar LNG and Iraq gas deals
Sonatrach, the Algerian state energy company and operator of two liquefied natural gas export plants, and Sinopec of China, an importer of LNG from nations like Australia, have signed an accord to extend and broaden the Chinese major’s 20-year oil producing role in the North African country.
