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March 4, 2014
07:32 EDTSNPSinopec sets aggressive savings goal, targets lower crude prices, Reuters says
China's Sinopec, which has previously tried to rein in crude costs, now has a more aggressive plan that aims for cost-savings of nearly $1.5B a year by buying crude oil at a lower price starting from April, according to Reuters, citing trade sources. Sinopec has asked its trading arm, Unipec, to target a purchase price of $1 per barrel discount to the weighted average of benchmark crude Brent, Dubai and WTI on free-on-board basis, the report noted. Reference Link
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October 28, 2014
13:46 EDTSNPSinopec upgraded to Overweight from Equal Weight at Morgan Stanley
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