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Thursday, Feb 7
China has mandated its state-owned energy firms help solve its pollution problem, and Sinopec...
China has mandated its state-owned energy firms help solve its pollution problem, and Sinopec (SNP -4.2%) has said it plans to spend - and borrow - to comply. Moody's analysts expect SNP's internally generated operating cash flow will be insufficient to cover its capex in 2013-14. It also worries the government won’t allow SNP to pass the costs on to consumers; we know how that's worked out for Petrobras.