Date
18 December 2017

Sinopec sales unit begins independent operation, paper says

Sinopec Chemical Commercial Holding Co. Ltd., a wholly-owned sales unit of China Petroleum & Chemical Corp. (Sinopec) (00386.HK, 600028.CN), has begun independent operation since Monday, as scheduled, after injection of all of the parent’s sales-related assets, Economic Information Daily reported Tuesday. Sinopec chairman Fu Chengyu said earlier that there are multiple considerations regarding the issue of an independent listing for the unit. Meanwhile, a source told the paper that Sinopec will soon establish a non-oil business research institute that will look at ways to make the most of the group’s advantage from combining gas stations and its big data so as to offer more diversified non-oil businesses and attract private investors.

– Contact HKEJ at [email protected]

TL/AC/RC

 

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