Shanghai Petrochemical hopes to improve crude oil process ability to 1000 tons i

Lu Yiping, chairman and general manager of Shanghai Petrochemical (0338), said the   target of crude oil process this year was 700 tons, the oil ability would be improved to 1000 tons in two years after accomplishment of the fourth project. He said although the oil price fell in Q1 in the world, it would stay at a high level this year. The company would adopt various measures to cut down cost in purchase to weight down negative influence of price rising of crude oil.

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