China’s Sinopec carves out two-pronged strategy to cut feedstock costs, lift refining margins
China’s top refiner Sinopec’s twin strategy for the fourth quarter of 2022 and next year would involve optimizing crude procurement costs by carefully picking grades, as well as timing for the imports while leveraging on plentiful oil product export quotas handed out by Beijing in an effort to boost refining margins, company executives said during the third quarter earnings call…