The state-owned Chinese oil and gas company formally known as China Petroleum and Chemical, Sinopec become the third largest company in the world by sales by riding its home country’s explosive growth and being savvy about pursuing its international ambitions. Last year it bought some of Chevron’s businesses in Africa for $900 million, helping it diversify its holdings. But that can run both ways, and now Sinopec has to navigate tense trade relations between the U.S. and China. In mid-2018, the company said it would double its imports of U.S. oil.
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