--FILE--View of a logo of Sinopec (China Petroleum & Chemical Corp.) in Ji'nan city, east China's Shandong province, 7 May 2016. State-owned oil gia
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Imaginechina Limited / Alamy Stock PhotoImage ID:
W5498EFile size:
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5472 x 3648 px | 46.3 x 30.9 cm | 18.2 x 12.2 inches | 300dpiDate taken:
7 May 2016Photographer:
ImaginechinaMore information:
--FILE--View of a logo of Sinopec (China Petroleum & Chemical Corp.) in Ji'nan city, east China's Shandong province, 7 May 2016. State-owned oil giant Sinopec admitted a 4.65 billion yuan ($684.7 million) operating loss made by its oil-trading arm in 2018. The statement Friday comes after Unipec, a wholly-owned trading arm of Sinopec, suspended two top officials in December after it suffered losses on crude oil transactions due to oil price slumps. The firm was investigating risk-management flaws in the company¯s hedging operations, Unipec sources said.