Sinopec signs agreement with China Coal Energy

China Petroleum & Chemical Corp. (Sinopec) signed a framework agreement with China Coal Energy Co., a wholly owned subsidiary of China National Coal Group, with regards to the purchase and sale of refined oil and coal. China Coal has plans to build a huge coal gasification plant in the Xinjiang Uighur autonomous region, as well as associated gas transmission lines. The framework agreement on strategic cooperation was signed between the two companies on August 14. (August 16, 2012)