China’s Sinopec reveals $687 mln oil trading loss

26 January 2018, News Wires — Sinopec Corp said its trading unit Unipec lost 4.65 billion yuan ($687 million) on crude oil hedging in the fourth quarter, one of China’s largest derivatives trading losses in nearly a decade. Asia’s top refiner, which said the loss had pulled down its fourth quarter profits, suspended Unipec President Chen … More »