Leading petrochemical company of China, SINOPEC has acquired 10% stake in Russian gas and petrochemical company. "SIBUR's vertically-integrated upstream and petrochemicals business model is highly complementary with Sinopec's businesses," saidWang Yupu, Chairman of Sinopec. "This transaction is in-line with our objective to strategically expand our petrochemical business overseas. Our continued partnership will help diversify and secure Sinopec's long-term sourcing of petrochemical products," Wang added.
