Sinopec, Asia’s largest oil refiner, has set up a new subsidiary, Sinopec Qingdao Refinery and Chemical Company, to build and operate a US$1.2 billion refinery in Qingdao city in Shandong province.   The refinery, proposed 12 years ago, will enable Sinopec to meet the oil products demand of the country’s east coast as well as…

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