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Sinopec cuts back (a little) on petchems

China's Sinopec has taken a lead in reviewing its petrochemical expansion plans. Speaking to employees last week , Wang Tianpu, CPC division President, noted that 'global crude prices may remain high and the petrochemical industry may become even more competitive'. Today, he gave more details...

Posted to ICIS Blogs (Weblog) by Anonymous on 09-08-2008
Sinopec receives $1bn subsidy in April

Sinopec is now losing 3000 yuan ($425) on every tonne of oil product sold, due to China's price freeze, according to Sinopec spokesman Chen Ge yesterday . And this is on top of official government subsidies paid to Sinopec, which rocketed to $1bn in April. This was more that the entire subsidy paid...

Posted to ICIS Blogs (Weblog) by Anonymous on 05-27-2008
Shanghai crashes

China is well worth watching at the moment. Quietly, away from the headlines, the Shanghai stock exchange has been collapsing. It is now down 44% since its October peak , and fell over 5% on Wednesday. This matters to the chemical industry for two reasons: • The immediate cause of Wednesday’s fall was...

Posted to ICIS Blogs (Weblog) by Anonymous on 03-28-2008

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