Sinopec has denied a report that BP Plc. will take a 30% stake in Zhenhai Refining & Chemical Co. Ltd. BP owns 9.41% of Zhenhai, whose minority shareholders will be bought out by state-controlled parent Sinopec in a privatisation plan. As per a daily newspaper, it was reported that BP would take a 30% stake in Zhenhai, which operates China's largest refinery, giving it the right of veto.
11-Nov-05 
{{comment.DateTimeStampDisplay}}
{{comment.Comments}}