Here is update on Petrobras looking for interest in Sinopec Refineries. I wonder if Petrobras realizes that Sinopec had to be bailed out by the Government the last 5 years to keep from going under because the imposed fuel price $0.90/gal creates a loss when crude is at $60-100/bbl??
<Doesn’t make sense to me this is place to make a refinery investment compared to developed western countries refineries. Eventually China is going to be held accountable for lack environmental oversight & unfair subsidized oil prices – really should have already lost its WTO status considering its bad health track record on drugs/foods/toys …..US gets 1 bad cow Canada & its out Meat industry for 3 years hard to see equality here.>
Regards
