Possible CNPC and Sinopec turf battle on China’s east coast

Xinhua News is reporting that Petrochina will provide crude oil for the Shandong Dongming Petrochemical  oil refinery in Shandong Province, China.  The interesting part of this agreement is that it is an indicator of a turf battle between CNPC (PetroChina’s parent) and Sinopec.  Shandong is an area traditionally aligned with Sinopec, so the fact that CNPC is moving into this territory with  the blessing of Shandong’s regional government is intriguing news indeed.  Is this the first salvo in a greater battle between CNPC and Sinopec? Things at this juncture are unclear, but it is a dustup worth keeping an eye on.

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