KazMunaiGas, Sinopec Group sign Understanding Memo
Kazakhstan , Astana, Sept. 22 /Trend, A.Maratov/
KazMunaiGas Board of Directors ChairmanKairgeldy Kabyldin and China 's Petroleum Corporation Sinopec President Wang Tianpu signed on Thursday a Memorandum of Understanding, KMG reported.
Under the memorandum, the parties expressed their intention to develop cooperation in Kazakhstan or in third countries in the fields of oil exploration and production, gas processing, refining and petrochemicals, engineering and technical services, information technology.
KMG and Sinopec Group are jointly upgrading the Atyrau refinery.
Sinopec Group C orp. is China 's largest integrated Power Chemical Company. Fortune magazine has rated the company as 5th among the world's 500 huge companies since 2011.
Sinopec is China's largest producer and supplier of petroleum and petrochemicals products, as well as the largest importer of oil and the second largest producer of hydrocarbon raw materials.
Edited by: A.Badalova