China's Sinopec looking to double energy efficiency

Asia's top refiner is planning to increase its energy efficiency by 20 percent by the end of 2015.

China's Sinopec looking to double energy efficiency

World Bulletin / News Desk

China Petroleum & Chemical Corp., or Sinopec, plans to double its energy efficiency capacity by 2025, according to company officials.

Fu Chengyu, chairman of the company, said Thursday that they would establish a more technological setup and more preferable management about refinery as part of the energy efficiency doubling plan.

According to the plan, Asia's biggest refiner will first increase its energy efficiency by 20 percent until the end of 2015 and by another 65 percent by the end of 2020.

Geng Chengfeng, head of the company's energy administration, said they would also invest in energy saving programs, according to China's Xinhua news agency.

Sinopec had decided to invest around $3,7 billion dollars in 803 environmental protection projects in 2013 within the scope of its three-year investment plan.

China, the world's second largest economy, is the biggest energy consumer and producer worldwide.

Last Mod: 28 Haziran 2014, 10:07
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