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Sinopec Said in Talks to Merge with China’s Aviation Fuel Giant
China’s largest oil refiner Sinopec Group is in discussions to take over the nation’s dominant distributor of jet fuel, according to people with direct knowledge of the talks.
The tie-up talks between Sinopec Group — also known as China Petrochemical Corp. — and China National Aviation Fuel Group Co. were initiated by Beijing, said the people, who asked not to be named as the information isn’t public. The negotiations are still in progress, and there is no timetable or guarantee that the deal will proceed, they added.