Critical to any future deal is the attitude of the Beijing government, which still controls 80% of Sinopec through its parent group, China Petroleum and Chemical Corporation. The remaining 20% is listed in New York, Shanghai and Hong Kong. BP took a 2% stake at Sinopec's partial privatization in 2000 but sold out last year to take profits.
125
BP Eager To Become The World Energy Merket Center
BP is in talks with Chinese petrochemical giant Sinopec on a joint venture
BP is in talks with Chinese petrochemical giant Sinopec on a joint venture.
BP is refusing to comment publicly on the talks, but a spokesman admitted "you don't have to be a rocket scientist" to realize China is a vital market. Well-placed sources confirmed Lord Browne had put forward various proposals to China's biggest producer of refined oil products and state officials about a tie-up.
Critical to any future deal is the attitude of the Beijing government, which still controls 80% of Sinopec through its parent group, China Petroleum and Chemical Corporation. The remaining 20% is listed in New York, Shanghai and Hong Kong. BP took a 2% stake at Sinopec's partial privatization in 2000 but sold out last year to take profits.
Critical to any future deal is the attitude of the Beijing government, which still controls 80% of Sinopec through its parent group, China Petroleum and Chemical Corporation. The remaining 20% is listed in New York, Shanghai and Hong Kong. BP took a 2% stake at Sinopec's partial privatization in 2000 but sold out last year to take profits.
Подпишитесь
