Will China Petrochemical become an investor in Sibr strategy? Does anyone know the details?

20 15 On September 4th, during Russian President Vladimir Putin's state visit to China today, China Petrochemical signed a strategic investment agreement with Sibr Group, a leading Russian natural gas processing and petrochemical company. Sinopec will buy shares in Sibr and become its strategic investor. The arrangement of this agreement is an important step for the two sides to deepen their existing strategic cooperation. Sibr's integrated development direction of resources and petrochemicals is highly compatible with Sinopec's main business. This strategic investment is in line with the overall requirements of the overseas strategic layout of China Petrochemical's chemical business. The continuous cooperative partnership between the two parties will help Sinopec ensure the long-term source of diversified petrochemical products. This cooperation is also a positive attempt to implement the Belt and Road development strategy and will further deepen the Sino-Russian strategic cooperative partnership.

Leonid Mikhelson, Chairman of Sibr, said: "As a leading global energy and chemical enterprise, Sinopec's strategic investment clearly reflects its confidence in Sibr's quality assets and future growth. We are very happy to introduce Sinopec as our strategic investor. We believe that the participation of Sinopec will further enhance the business level of Sibr, maximize the efficiency of Sibr's new large-scale projects, and raise the company to a new height. "

China Petrochemical Group is one of the largest comprehensive energy and chemical companies in China, mainly engaged in oil and gas exploration and development, petroleum refining and petroleum product sales, chemical product production and sales, petroleum and refining engineering services, international trade and scientific research and development. China Petrochemical Group is the largest producer and supplier of petroleum and petrochemical products in China, the second largest oil and gas producer in China, the second largest oil refining producer and the fourth largest ethylene producer in the world, and has the third largest sales and distribution channel in the world. China Petrochemical Group ranks second among the 20 15 Fortune Global 500 companies and is the highest ranked China company.

Sibr is a vertically integrated natural gas processing and petrochemical company with unique positioning. Sibr owns and operates the largest natural gas processing business in Russia and is also a leading enterprise in Russian petrochemical industry.