Sinopec shares dropped 3.4 per cent on Monday on the back of a 2.6 per cent decline in oil prices in New York on Friday. Photo: Bloomberg

Chinese energy giant Sinopec defends 41 per cent increase in oil and gas exploration budget, says guided by market forces

  • Increase in oil and gas exploration allowance for 2019 follows 35 per cent rise in 2018
  • Not convinced Sinopec can economically justify additional upstream investment, say Jefferies’ analysts
Topic |   Energy

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Sinopec shares dropped 3.4 per cent on Monday on the back of a 2.6 per cent decline in oil prices in New York on Friday. Photo: Bloomberg
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