Monday, March 09, 2009

US$336 mln subsidy for Sinopec unit to offset refining losses caused by low state-set fuel prices

Sinopec Shanghai Petrochemical Co has received over 2.3 billion yuan (US$336 mln) in subsidy in 2008 to help offset refining losses caused by low state-set fuel prices. Though the exact extent of lossses incurred last year are not known, the subsidy normally accounted for less than half of refining losses.

For more details on US$336 mln subsidy for Sinopec unit to offset refining losses caused by low state-set fuel prices click here

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