Sinopec unveils plan to become green company
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E-mail Xinhua, April 3, 2018
China's leading oil refiner, Sinopec, launched its "green action plan" on Monday in a bid to become a clean, efficient and low-carbon enterprise by 2023.
According to the plan, Sinopec's gasoline and diesel products manufactured in 2018 will meet the State VI emissions standard, which is equivalent to the Euro VI standard.
Within the next six years, the company, whose official name is China Petroleum and Chemical Corp, will see the percentage of its clean energy output exceed 50 percent and will build another 1,000 natural gas stations for vehicles.
By 2023, Sinopec will be able to supply 60 billion cubic meters of natural gas per year. More than 10,000 kilometers of gas pipelines will be put to use, while the transfer capacity of liquefied natural gas (LNG) shall reach 26 million tonnes per year, the plan said.
"In the New Era, we seek to provide society with more clean energy and greener products, with green and low-carbon growth as Sinopec's core competence," said Jiao Fangzheng, Sinopec's vice president.
Energy and chemical companies should aim for lower consumption and higher efficiency to promote high-quality development of the sector, said Sinopec president Dai Houliang at the China Development Forum.
The company's net profit for 2017 grew 9.8 percent year on year to 51.2 billion yuan (8.1 billion U.S dollars), according to Sinopec's 2017 annual report.
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