Beijing: Energy giant Sinopec has been linked by local media in buying the oil storage assets of beleaguered Titan Petrochemicals. Hong Kong subsidiary Sinopec Kantons is tipped to take over Titan’s oil depots.
Titan currently owns four oil storage bases at Nansha, Fujian, Yangshan and Yantai with a combined storage capacity of more than 6m cu m. [09/09/13]
