Sinopec secures key suppliers
30 November 2007
Sinopec, China's second-largest oil company, signed and renewed strategic relationships with 23 domestic and 10 international suppliers, Economic Observer reported (in Chinese). The suppliers include steel manufacturers, coal and crude oil suppliers and large equipment providers. Domestic firms Baosteel, Angang, Shenhua Energy and China Aerospace Science and Technology Corp were among the companies signing new deals. Cooperation with these strategic suppliers will serve Sinopec's next round of expansion over the next three years, including oil explorations, refining and building a natural gas pipeline, said Sinopec director Wang Tianpu.