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Sinopec UPSC NOTE

 Why in News

  • Sri Lanka approved a proposal by China’s Sinopec to build a $4.5 billion refinery. 

  • This will makes  the largest single investment in the island nation since the economic crisis last year. 

  • China is also Sri Lanka’s biggest bilateral lender.

China’s Sinopec

  • China Petrochemical Corporation (Sinopec Group) is a super-large petroleum and petrochemical enterprise group.

  • Its established by the state in July 1998 on the basis of the former China Petrochemical Corporation. 

  • It is the largest oil and gas producer in China, the second largest oil refining company in the world, and the second largest chemical company in China. 

  • Sinopec has a registered capital of 326.5 billion yuan and is headquartered in Chaoyang District, Beijing.


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Sinopec UPSC NOTE
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