Sinopec ponders fate of stake sale proceeds21 February 2014
Sinopec could net up to $38 billion from the sale of a large stake in its retail fuel business, a windfall analysts said the state-run energy giant may plough into exploration and production to build a bigger and better upstream business.
Sinopec – China’s second-biggest oil and gas company after PetroChina – said on Wednesday that it plans to sell up to 30% of its oil product marketing segment, which controls more than 30,000 petrol stations and more than 10,000 km of pipelines.
You must be a subscriber to read this content
Already a subscriber?
If you already have a subscription, sign in to continue reading this article.Sign in
Not a subscriber?
To access our premium content, you or your organisation must have a paid subscription. Sign up for free trial access to demo this service. Alternatively, please call +44 (0)20 3004 6203 and one of our representatives would be happy to walk you through the service.Sign up