Sinopec unifies oil products producer price

Thirty-one affiliated refineries of China Petrochemical Corporation (Sinopec Group) began to sell No. 90 gasoline at 5,580 yuan (US$815) per ton unanimously on December 23, 2008. They include Sinopec Qilu Petrochemical Co., Ltd., and Shengli Oilfield in Shandong Province, Henan Oilfield and Zhongyuan Oilfield in central China, Maoming Petrochemical Co., Ltd. in Guangdong Province, Zhenhai Refining and Chemical Co., Ltd. in Zhejiang Province, and Jingmen Petrochemical Co., Ltd. in Hubei Province, which also adopted a uniform price of 4,970 yuan (US$726) per ton for No. 0 diesel oil. Sinopec aims to increase the profit of its sales unit through unifying selling prices. (December 26, 2008)