China’s Unipec records 2022 sales of 1.76 trillion yuan

CHINESE oil trader Unipec reported 2022 sales income of 1.76 trillion yuan (S$342.6 billion), chairman Chen Gang told state news agency Xinhua in a rare disclosure of the state-owned firm’s revenues.

The wholly owned trading arm of Chinese refining giant Sinopec Corp with 600 employees worldwide, has become one of the world’s top energy traders.

It is increasingly trading liquefied natural gas (LNG), and recently locked in large volumes of long-term supply from top LNG exporters Qatar and the United States, as well as Oman.

Chen retired last month as managing director of the company. REUTERS