Sinopec Sets Conditions for Non-state Investors in Sales Unit

(Beijing) – China Petroleum & Chemical Corp. (Sinopec) announced some conditions for private and non-state investors to join a restructuring of its sales unit on June 30, but the state-owned oil giant did not announce a detailed timetable.

Sinopec said it would consider the investors' industry status, brand value, reputation, financial ability, place of registration and shareholding situation. It would also take into account whether investors would become a Sinopec partner and said they should not have businesses that conflict with Sinopec's.