LINE

Text:AAAPrint
Business

Sinopec signs agreement with Russian oil company

1
2019-06-09 17:37:10China Daily Editor : Gu Liping ECNS App Download
Special: Xi visits Russia, attends SPIEF

China Petroleum and Chemical Corp, the world's largest refiner by volume, has signed an agreement with Russian petrochemical company Sibur on the Amur Gas Chemical Complex (Amur GCC) in Moscow, the company said on Thursday.

The agreement was signed in the presence of Chinese President, Xi Jinping, and Russian President, Vladimir Putin.

Under the agreement, the company, also known as Sinopec, will hold a 40 percent stake in Amur GCC.

"Investing in Amur GCC marks another one of our efforts to deepen cooperation between the two parties since we became a strategic investor of Sibur," said Dai Houliang, Sinopec chairman.

"Leveraging our best practices and advantages, we are committed to making this partnership represent regional energy cooperation in the downstream petrochemical sector."

"This partnership will enable both parties to develop common expertise and experience to maximize the efficiency of new large-scale projects," said Dmitry Konov, chairman of Sibur's management board.

Dai and Konov on June 5 in Moscow signed an industry cooperation agreement and ZapSibNeftekhim product-distribution agreement, which commits to strengthen strategic partnerships in China, Russia and other countries, while exporting to China polyethylene produced by ZapSibNeftekhim.

MorePhoto

Most popular in 24h

MoreTop news

MoreVideo

News
Politics
Business
Society
Culture
Military
Sci-tech
Entertainment
Sports
Odd
Features
Biz
Economy
Travel
Travel News
Travel Types
Events
Food
Hotel
Bar & Club
Architecture
Gallery
Photo
CNS Photo
Video
Video
Learning Chinese
Learn About China
Social Chinese
Business Chinese
Buzz Words
Bilingual
Resources
ECNS Wire
Special Coverage
Infographics
Voices
LINE
Back to top Links | About Us | Jobs | Contact Us | Privacy Policy
Copyright ©1999-2019 Chinanews.com. All rights reserved.
Reproduction in whole or in part without permission is prohibited.