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Sinopec shuts-in four production sites
As the oil price slump continues amid OPEC’s battle to maintain market share, the group’s goal of eliminating high-cost production appears to be working, but perhaps not where OPEC had originally hoped.

Sinopec (ticker: SNP), China’s second largest crude oil producer, announced today that the company will be shutting in four of its least profitable sites due to low oil prices. The four sites are located at its 70-site Shengli oilfield in Shandong province from which the company has been producing for m...

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