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.

Saturday, August 13, 2011

Sinopec Adjusts HK Oil Price 3 Times In 3 Months

Hong Kong, 1st August – China Petroleum & Chemical Corporation (Sinopec) and Shell decided to increase fuel prices by 0.18 yuan per liter as a result of rise in international prices, reports yicai.com. The after-tax selling prices of two types of fuel hit HK$16.7 and HK$17.64, respectively.

Sinopec lowered its fuel prices twice in Hong Kong in May and July.

In mainland China, the National Development Reform (NDR) never made any adjustment after it raised its price twice, in February and April. - CapitalVue

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