Sinopec merges two Guangdong-based refineries, lifts more US oil: sources

The Business Times | Aug 14, 2020 at 2:00 AM
  • China’s Sinopec has merged two subsidiary refineries in Guangdong, two company sources said, as the state refining giant looks to improve operations in the face of rising competition in South China.
  • Sinopec alone operates nearly one million barrels per day (bpd) of refining capacity in the province and rival PetroChina is building a new 400,000 bpd refinery.
  • Between 2017 and 2019, Dongxing processed about 15 million barrels of West Texas Intermediate (WTI) crude, replacing some of its previous regular imports from West Africa.