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.
Commodities
Chinese refiner admits buying Russian oil for 'risk control' and 'price'
Shanghai Petrochemical under pressure from rising procurement costs
A Russian oil field. China, along with India, has been known to be a major buyer of Russian crude. © Kyodo
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