Sinopec to hold 30% stake in polyethylene plant interfax.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from interfax.com Daily Mail and Mail on Sunday newspapers.
Sinopec has bought into a liquefied natural gas project in Qatar in a bid to bolster the energy security of China, the world’s second-largest buyer of the fuel.
Sinopec will spend record amounts this year to increase oil and gas drilling as China aims to bolster its energy security and insulate itself from volatile global commodity markets. China Petroleum & Chemical Corp., as it’s officially known, will increase capital expenditure 18 percent to 198 billion yuan ($31 billion),…