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China’s state-run oil company Sinopec Group pauses projects with Russia
source link: https://technode.com/2022/03/29/chinas-state-run-oil-company-sinopec-group-pauses-projects-with-russia/
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China’s state-run oil company Sinopec Group pauses projects with Russia
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Mar 29, 2022Mar 29, 2022
China’s state-run Sinopec Group has suspended talks regarding proposed projects in Russia amid concerns over the impact of international sanctions, Reuters reported on March 25. Sinopec is one of the largest oil refiners in Asia and the major petrochemical investment and gas marketing venture in Russia that it was discussing is valued at around $500 million according to some estimates. Despite the move, Chinese authorities continue to emphasize that they will maintain a normal economic relationship with Russia. [Reuters]
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