Asia's largest refiner Sinopec incurred losses in its refining business in October because increases in domestic fuel prices haven't caught up with gains in crude costs, a company official said yesterday.
BASF and Sinopec announced they plan to invest proximately US$1.4 billion in the second phase of the integrated petrochemical site (IPS) project of their joint venture, BASF-YPC Co Ltd (BYC).
China Petroleum and Chemical Corporation (Sinopec) said Sunday its net profit in the first half of 2009 rose 332.8 percent year on year because of adjusted refined oil prices in domestic market.