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China's Sinopec to prioritise risk control in Russian oil purchases, exec says

Top Chinese refining major Sinopec Corp will prioritise "risk control" in purchasing Russian oil, which has similar quality for its value versus competing global supplies, a top company executive said on Monday.
The article from Reuters discusses how China's Sinopec, one of the world's largest oil companies, is focusing on risk management in its dealings with Russian oil purchases. During the Boao Forum for Asia, Sinopec's President, Yu Baocai, highlighted the importance of controlling risks associated with buying Russian oil amidst geopolitical tensions and sanctions. He emphasized that while Sinopec continues to engage in trade with Russia, the company is cautious about the potential risks, including financial and reputational risks due to international sanctions. Yu also mentioned that Sinopec is looking to diversify its energy sources to mitigate these risks, indicating a strategic shift towards a more balanced and secure energy supply chain.

Read the Full Reuters Article at:
[ https://www.reuters.com/business/energy/chinas-sinopec-prioritise-risk-control-russian-oil-purchases-exec-says-2025-03-24/ ]