Date
16 October 2017

Sinopec Qingdao pipeline insured for over 1 bln yuan, CNR says

The oil pipeline of China Petroleum & Chemical Corp. (Sinopec) in Qingdao that caught fire last Friday may have been insured for over 1 billion yuan (US$164.12 million), China National Radio reported Monday, citing sources close to the oil giant. The pipeline was insured by an insurance firm directly, and reinsured by several other companies, it said. Sinopec officials did not confirm the matter, the report said.

– Contact HKEJ at [email protected]

EL/AC/RC

 

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