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Sinopec Says Keen on Participating in Shale Gas Project in Saudi Arabia

FILE PHOTO: A man looks at models displayed at the booth of Chinese oil company Sinopec during the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Florence Lo/File Photo
FILE PHOTO: A man looks at models displayed at the booth of Chinese oil company Sinopec during the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Florence Lo/File Photo
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Sinopec Says Keen on Participating in Shale Gas Project in Saudi Arabia

FILE PHOTO: A man looks at models displayed at the booth of Chinese oil company Sinopec during the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Florence Lo/File Photo
FILE PHOTO: A man looks at models displayed at the booth of Chinese oil company Sinopec during the China International Fair for Trade in Services (CIFTIS) in Beijing, China September 1, 2022. REUTERS/Florence Lo/File Photo

Asia's top refiner, Sinopec Corp, is not interested in acquiring Shell's refinery or petrochemical plant in Singapore although it is keen on participating in a shale gas project in Saudi Arabia, the Chinese company's president said on Monday.

Sinopec President Yu Baocai, speaking at a briefing in Hong Kong after the state-run oil and gas giant reported a 20% decline in interim earnings, said that Sinopec is interested in participating in Saudi Arabia's Jafurah shale gas project.

Yu also said that Sinopec was one of the international companies invited by the Sri Lankan government to build a refinery there, and that it was evaluating the matter.

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China Seeks to Bolster Ports and Aviation Hubs in Western Regions

The city skyline is reflected in a pool left on the dry riverbed of the receding Jialing river, a tributary of the Yangtze, that is approaching record-low water levels during a regional drought in Chongqing, China, August 20, 2022. (Reuters)
The city skyline is reflected in a pool left on the dry riverbed of the receding Jialing river, a tributary of the Yangtze, that is approaching record-low water levels during a regional drought in Chongqing, China, August 20, 2022. (Reuters)
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China Seeks to Bolster Ports and Aviation Hubs in Western Regions

The city skyline is reflected in a pool left on the dry riverbed of the receding Jialing river, a tributary of the Yangtze, that is approaching record-low water levels during a regional drought in Chongqing, China, August 20, 2022. (Reuters)
The city skyline is reflected in a pool left on the dry riverbed of the receding Jialing river, a tributary of the Yangtze, that is approaching record-low water levels during a regional drought in Chongqing, China, August 20, 2022. (Reuters)

China said on Sunday it would launch 15 measures to bolster the development of its western provinces with the construction of logistical infrastructure such as ports and aviation hubs.

The General Administration of Customs said the measures would enhance the integration of rail, air, river and sea links in China's west, state media reported.

The measures are to include enhancing international aviation hubs in cities including Chengdu, Chongqing, Kunming, Xi'an and Urumqi, while developing comprehensive bonded zones, and integrating these with ports and other transport links.

A number of ports would also be built and expanded.

China has long sought to bolster the economic heft of its western regions, which have markedly lagged coastal provinces.

China's western regions comprise around two-thirds of the country's land area and include regions such as Sichuan, Chongqing, Yunnan, Xinjiang and Tibet.

China's Politburo last year called for a "new urbanization" of western China to revitalize rural areas, expand poverty alleviation efforts and strengthen energy resources. Efforts have also been made to increase linkages to Europe and South Asia through trade corridors including rail freight routes.