Sinopec uses Initiative to reshape petroleum sector

Investments of $100b in last five years make SOE popular among B&R economies

China Petroleum & Chemical Corp, also known as Sinopec, the world's largest refiner, believes that by deepening cooperation with countries and regions taking part in the Belt and Road Initiative, it can reshape the petroleum and petrochemical industry.

Toward that end, it has already invested around $100 billion in the past five years, in fields such as oil and gas exploration, development of oilfields, petroleum exploitation, refining, engineering, crude oil trade, equipment, materials and petrochemicals.