Investors have been trying to weigh up the effects of the new COVID variant this week
China’s Sinopec has just announced a successful test of a new technology to convert oil directly into key petrochemical products while cutting costs and reducing emissions in the process
China's Sinopec Corp said on Wednesday it completed a successful trial processing crude oil directly into olefin, making the top Asian refiner one of the world's few companies that have applied the technology at an industrial scale. With a yield of close to 50%, the manufacturing process cuts significantly production cost as well as carbon dioxide emission, compared with the traditional approach of refining crude into intermediate fuels which are further processed into olefin, Sinopec said.
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