BEIJING--(MARKET WIRE)--Oct 14, 2008 -- Researched by Industrial Info Resources (Sugar Land, Texas) -- China Petroleum and Chemical Corporation (SNP - News) (Sinopec) (Beijing) is nearing completion of a refinery and ethanol project in Fujian province and will begin running it early next spring. Sinopec said in a news release that its Fujian branch has finished about 92% of the construction. The project's investors include Sinopec (50%), Saudi Arabia's state-owned oil company Saudi Aramco (25%) and ExxonMobil Chemical China, a subsidiary of ExxonMobil Corporation (XOM - News) (Irving, Texas) (25%).

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