HONG KONG -- Sinopec Shanghai Petrochemical, one of the largest petroleum refiners in China, said it has purchased Russian crude oil in a rare admission for a state-owned enterprise.
Guan Zemin, president of New York-listed Shanghai Petrochem, told reporters and analysts on Friday at an online earnings call that the company has bought 99,000 tons of Russia's flagship Urals crude during the first half of the year.
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