Sinopec Group, the largest shareholder of Sinopec Corp., is a giant petroleum and petrochemical group incorporated by the State in 1998 based on the former China Petrochemical Corporation. Funded by the State, it is a State authorized investment arm and State-owned controlling company.

Monday, October 18, 2010

Sinopec's Hainan Oil Refinery Boosts Processing as China Fuel Demand Rises

Shanghai, October 12th, 2010 - China Petroleum & Chemical Corp., Asia’s biggest refiner, will process 6 percent more crude oil at its Hainan plant this month compared with September because of rising domestic demand, an official at the refinery said.

The plant will refine 760,000 metric tons of crude this month, or about 180,000 barrels a day, compared with 720,000 tons in September, said the official, who declined to be identified because of company rules.

The plant in southern China’s Hainan Island has an annual capacity of 8 million tons, or 160,000 barrels a day. - Bloomberg

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