My brother is heavy into Sinopec I found out just this evening when he came over for Prime Rib (his wife the Amegy Banker was at a fundraiser), and was very happy today with its performance... He was gushing about how much potential Sinopec has... and blah, blah.. blah...
THEN I told him it must have been because the announcement of the Memorandum of Understanding they signed with North West Oil Group, Inc.!!! and he said... Oh REALLY???!!!
LOL... He's always made fun of my Russian Pinkies but NOW his eyes are opened! It took longer than I expected... but NWOL chance to step up and be counted is coming!
Apparently Sinopec is prone to stake position in its Joint Venture partnerships, judging by another recent deal it has entered with a South Korean company:
"Under the deal, Sinopec will secure part of the shares in the petrochemical company, which is now owned by GS Aromatics with 60 percent stake, GS Caltex said in a statement."
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