Sinopec to invest RMB30 billion in plant upgrades

China Petroleum  Chemical Corp. (Sinopec), Asia’s largest refiner by capacity, will invest RMB30 billion (US$3.8 billion) in upgrading its plants to produce gasoline and diesel with lower sulfur content, the official Xinhua News Agency cited a company official as saying. China will soon introduce standards that will require lower sulfur content in fuels from early 2010. (December 8, 2006)