Related Articles
Forward article link
Share PDF with colleagues

Reforms to open China's Sinopec to private investment

The move is part of state-owned enterprise reforms that hope to make the companies involved more competitive and market oriented

Sinopec, China's second-largest national oil company, is carrying the torch for Beijing's state-owned enterprise (SOE) reforms. The company is pushing ahead with a major restructuring that it says will open the company to more private investment while making the company more competitive and market-oriented. At the same time, it is benefiting from broader energy sector reforms that have seen it earn more for the natural gas it produces and fuel it sells at the pump.  Early signs that the reforms are paying off for Sinopec came in late August. The company reported a net profit of 52.27 billion yuan ($8.49bn) for the first half of this year, buoyed by higher natural gas prices, strong performa

Also in this section
Nigeria's election hangs over energy sector
19 April 2018
Africa's biggest economy is growing again. But next year's vote is stalling reform and investment in its crucial energy sector
Syria: ruthless business as usual
18 April 2018
The joint US-UK-French strikes on chemicals targets in Syria won’t affect the war—but they could damage Trump's image in the region
Elections a new rupture point in Venezuela crisis
16 April 2018
A Maduro loss in May's election could be a turning point, but recovery will be lengthy