Sinopec and Sibur to Cement their Existing Strategic Cooperation

Strategic Investment Sinopec and Sibur to Cement their Existing Strategic Cooperation

08.09.2015Editor: Dr. Jörg Kempf

China Petrochemical Corporation (“Sinopec Group”) and Sibur have entered into a framework investment agreement during a state visit by Russia’s President Vladimir Putin to China whereby Sinopec Group is to acquire a stake in Sibur.

Related Companies

Pörner Ingenieurgesellschaft mbH

Maag Pump Systems AG

EPC Group

Central Gas Fractionating Unit in Tobolsk, Tyumen Region
(Picture: Sibur)

Beijing/China – The transaction represents an important step for both parties to cement their existing strategic cooperation. The parties believe that the transaction between Sinopec and Sibur will further strengthen the companies’ leading market positions and the partnership between Russia and China. The deal is expected to be closed upon approvals by corporate governing bodies and regulators.

Mr. Wang Yupu, Chairman of Sinopec, commented, “Sibur’s vertically-integrated upstream and petrochemicals business model is highly complementary with Sinopec’s businesses. 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. The partnership also represents the active implementation of China’s “One Belt, One Road” policy, and will help to strengthen the strategic relationship between China and Russia.”

Mr. Leonid Mikhelson, Chairman of Sibur, commented, “this transaction with Sinopec is a clear signal of confidence from a global energy and chemical industry leader in Sibur’s high quality asset base and future growth potential. We are excited to have Sinopec as our strategic shareholder, whose participation will reinforce Sibur's expertise to maximize the efficiency of new large-scale projects and raise the Company to a new level”.

Unfold for details of your consent

Stand vom 23.03.2021

Naturally, we always handle your personal data responsibly. Any personal data we receive from you is processed in accordance with applicable data protection legislation. For detailed information please see our privacy policy.

Consent to the use of data for promotional purposes

I hereby consent to Vogel Communications Group GmbH & Co. KG, Max-Planckstr. 7-9, 97082 Würzburg including any affiliated companies according to §§ 15 et seq. AktG (hereafter: Vogel Communications Group) using my e-mail address to send editorial newsletters. A list of all affiliated companies can be found here

Newsletter content may include all products and services of any companies mentioned above, including for example specialist journals and books, events and fairs as well as event-related products and services, print and digital media offers and services such as additional (editorial) newsletters, raffles, lead campaigns, market research both online and offline, specialist webportals and e-learning offers. In case my personal telephone number has also been collected, it may be used for offers of aforementioned products, for services of the companies mentioned above, and market research purposes.

In case I access protected data on Internet portals of Vogel Communications Group including any affiliated companies according to §§ 15 et seq. AktG, I need to provide further data in order to register for the access to such content. In return for this free access to editorial content, my data may be used in accordance with this consent for the purposes stated here.

Right of revocation

I understand that I can revoke my consent at will. My revocation does not change the lawfulness of data processing that was conducted based on my consent leading up to my revocation. One option to declare my revocation is to use the contact form found at https://support.vogel.de. In case I no longer wish to receive certain newsletters, I have subscribed to, I can also click on the unsubscribe link included at the end of a newsletter. Further information regarding my right of revocation and the implementation of it as well as the consequences of my revocation can be found in the data protection declaration, section editorial newsletter.

(ID:43587452)

Strategic Investment Sinopec and Sibur to Cement their Existing Strategic Cooperation

Subscribe to the newsletter now

Don't Miss out on Our Best Content

Consent to the use of data for promotional purposes