Sinopec Seeks Private Investors for Retail Unit

摘要

China's state-run Sinopec is poised to restructure the group's oil product marketing segment and sell up to 30% of the retail unit to private investors, as part of Beijing's moves to encourage private investment in statecontrolled industries. Sinopec said in a statement on Wednesday that the board had approved the proposal relating to the group's retail business, which operates China's largest network of over 30,500 fuel stations, with over 10,000 kilometers of oil product pipelines.