As per an announcement by China Petroleum & Chemical Corporation (Sinopec) on Feb. 15 that it will buy back its four listed subsidiaries for 14.3 billion yuan (US$1.79 billion), Sinopec has bought back almost all outstanding shares of four subsidiaries. The shares of the following subsidiaries will no longer be publically listed - Sinopec Qilu Petrochemical Co., Sinopec Yangzi Petrochemical Co., Sinopec Zhongyuan Petroleum Co., and Sinopec Shengli Oilfield Dynamic Group Co.
This move is in line with the company's decision in 2000 to restructure its assets in order to strengthen the competency of its core business. Sinopec has plans to purchase outstanding stake in its other five listed subsidiaries.
06-Apr-06 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}