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SHI - Sinopec's New Product Oil Pipeline In Zhejiang Starts Operation

Prepared by ChinaScope Financial | Source: Ifeng
  • China Petroleum & Chemical Co., Ltd. (00386: HKG; 600028: SHA; SNP: NYSE) announced that its subsidiary, SINOPEC Zhenhai Refining & Chemical Company, has completed the construction of the Ningbo-Shaoxing-Jinhua-Quzhou product oil pipeline and put it into operation on April 8. The product oil pipeline, which boasts the largest scale of its kind in Zhejiang Province, has thus far transported 67,000 metric tons of product oil.
  • The 378-kilometer product oil pipeline is designed to carry 7.6 million metric tons of gasoline and diesel oil each year. Data shows that total investment on the pipeline amounts to CNY 1.82 billion.
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