Huang Wensheng News
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Unipec Asia Company Ltd., a subsidiary of China Petroleum & Chemical Corp., sued BNP Paribas SA in Hong Kong to recover $46.6 million from the French bank.
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China Petroleum & Chemical Corp., Asia’s biggest refiner, will ramp up crude production and develop natural gas fields to counter losses from selling diesel and gasoline at state-mandated prices.
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China Petroleum & Chemical Corp., Asia’s biggest oil refiner, is studying possible investments in Singapore after reports the company’s parent may build a refinery in the island state.
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China’s first price increases in 10 months for gasoline and diesel may signal a policy shift to limit the refining losses that discouraged production in the world’s biggest energy consumer.
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China Petrochemical Corp. , Asia’s biggest refiner, agreed to borrow $5 billion, an increase of $1.2 billion from its original plan, to fund overseas acquisitions, according to a person familiar with the matter.
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China International United Petroleum & Chemical Corp., the nation’s biggest oil trader, is still negotiating a 2012 crude supply contract that was scheduled to be agreed on last year with National Iranian Oil Co., according to two people with knowledge of the talks.
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Refiners in Japan are holding off from signing oil-supply contracts from Iran, four people with knowledge of the talks said, while China International United Petroleum & Chemical Co. agreed to most terms of a 2012 deal with the Islamic republic, according to three other people.
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Unipec, the trading unit of China’s largest refiner, booked a supertanker to ship Iranian crude this month as the Persian Gulf nation continues to supply its biggest customer before Europe bans its oil exports.
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Surging prices for shale gas and oil properties in the U.S. are turning owners of deposits as far away as Australia into potential takeover targets.
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China Petroleum & Chemical Corp., the nation’s largest oil refiner, started an investigation after receiving complaints that its gasoline had stopped some cars in Henan from starting while others spouted red or black liquid.
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