Sinopec Recalls One-Third of Subsidiary's Overseas Workforce

(Beijing) – State-run China Petroleum & Chemical Corp. (Sinopec) has recalled more than one-third of the people working at an overseas gas exploration unit back to China as part of a cost-cutting drive.

Sinopec International Petroleum Exploration and Production Corp. (SIPC), a wholly owned subsidiary of Sinopec, has brought back 263 employees since the beginning of the year, people close to the company say.