Sinopec plans to increase domestic LNG production

China’s state-owned oil and gas company Sinopec plans to boost natural gas production by 4.8% in 2022 and continue developing the gas supply chain to meet decarbonization and energy security targets, Chairman Ma Yongsheng said. “The natural gas business will not only support the company’s transformation, but also generate good profit, because of which we

Sinopec completes china’s first megaton scale carbon capture project

China Petroleum & Chemical Corporation has completed the construction of China’s first megaton carbon capture, utilization and storage (CCUS) project, the Qilu-Shengli Oilfield CCUS (the “Project”) on January 29, which will reduce carbon emission by 1 million tons per year, the equivalent of planting nearly 9 million trees and shutting down 600,000 economy cars. As

Cummins and Sinopec ally to produce green hydrogen

Cummins Inc. and China Petrochemical Corporation, owned by the Sinopec Group, announced the formation of a 50:50 joint venture through Cummins Enze Hydrogen Technology Co., Ltd to develop green hydrogen. The joint venture will accelerate the affordability and availability of the fuel through increased technological innovation, research and development, as well as manufacturing capacity. Cummins

Beijing allocates extra 1 mn mt bunker fuel export quota to Sinopec, PetroChina, CNOOC

China’s Ministry of Commerce this week allocated an additional 1 million mt of quotas to Sinopec, PetroChina and CNOOC to export their domestically produced bunker fuel oil for bonded bunkering at China’s ports in 2021, sources with knowledge of the matter said. Meanwhile, the ministry has also approved Sinochem to transfer 230,000 mt of its