China Petrochemical Corp (Sinopec) has shed its stake in a controversial project in Sudan before this month's US$3.5 billion global stock offer. A subsidiary of the state-owned oil giant, Zhongyuan Petroleum Exploration Administration, originally held 80 per cent in a small exploration block in Sudan but sold it in June, Sinopec said. The China National Petroleum Corp (CNPC), has taken over 100 per cent of the area, up from its original 20 per cent holding. Sinopec declined to give the value of the transaction. 'Neither Sinopec, nor its listed vehicle has investment in Sudan now,' a Sinopec official said. Sinopec had not started commercial production on the block. CNPC's investment in a Sudan pipeline and refinery brought protests from human rights groups - claiming oil revenue was fuelling a war in the south - before the April listing of its PetroChina unit. They forced its removal from the listed vehicle.
