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Mega-merger poses challenge to China state-run oil giants

Prospective Sinochem-ChemChina tie-up will create the largest oil refiner behind Sinopec and CNPC

ChemChina is the country's largest chemical company with nine refineries and more than 140,000 workers, according to its website.


A MERGER of Sinochem Group and China National Chemical Corp (ChemChina) would create a new oil-refining challenger to established state-run behemoths that dominate the country's fuel-making business.

The prospective tie-up, combining two companies with assets of more than