(EnergyAsia, April 4, Friday) — China’s state energy giant Sinopec has received over 12.3 billion yuan in government subsidies to help cover its most recent refining losses. (US$1=7 yuan).The subsidy marks the third year that Sinopec receives such support from Beijing.Sinopec cannot pass on high crude oil costs to customers due to price caps on…
CHINA: Sinopec gets 12.3 billion yuan to cover refining losses
Posted on April 3, 2008 by EnergyAsia