Sinopec Establishes Shengli Oilfield Shenghai Petroleum Development Firm in Dongying
Sinopec has wholly established Shengli Oilfield Shenghai (Dongying) Petroleum Development Co. , Ltd. in Dongying, Shandong. The new entity will engage in offshore oil and natural gas extraction, as well as power generation, transmission, and supply. Sinopec holds full equity in the company.
Shengli Oilfield Shenghai (Dongying) Petroleum Development Co. , Ltd. has been recently incorporated in Dongying, Shandong Province. The company's business scope includes offshore oil extraction, offshore natural gas extraction, as well as power generation, power transmission, and power supply (distribution) services. Sinopec holds 100 percent of the company's equity.