A widening corruption probe in China has ensnared another oil executive, this time the number two man at state owned Sinopec.A widening corruption probe in China has ensnared another oil executive, this time the number two man at state owned Sinopec.

China National Petroleum Corp and Sinopec, China’s top two state-owned oil companies, have denied they are considering merging to form a giant monopoly after rumours prompted both companies’ Hong Kong-listed shares to jump on Monday.

China’s Sinopec has become the latest oil major to cut its capital expenditure, after the slide in crude prices knocked nearly one-third from its 2014 profit.

China’s National Development and Reform Commission (NDRC) has approved Sinopec Beijing Yanshan Petrochemical Co. Ltd., a subsidiary of China National Petroleum Corp. (Sinopec), to proceed with its plans to build a grassroots refinery in Caofeidian Industrial Zone, Tangshan, Hebei Province, China

Asia's largest oil refiner Sinopec Corp, which on Thursday posted a 12 percent fall in quarterly earnings, aims to use part of $17.5 billion in proceeds from a stake sale to boost shale gas production and lower debt.

Petronas, Malaysia’s state-owned oil and gas group, is threatening to pull the plug on a $10bn liquefied natural gas project in Canada, saying new taxes and rising competition from a slew of US shale gas projects threaten its viability.

Sinopec sells $17.4bn retail unit stake

Sanctions help Russia overcome its China paranoia. Moscow is strengthening ties as access to western funds tightens.

China's Sinopec to push on with $10 bln coal-to-gas plan

Drilling furiously: Chinese energy giants turn upbeat on shale gas