Sinopec’s New Leadership Pushes a Strategic Reset as Fuel Demand Ebbs
Sinopec’s chairman, Hou Qijun, has begun a sweeping restructuring of the world’s largest oil refiner to address falling fuel demand, petrochemical overcapacity and tough market conditions. He has divided the company into four profit-oriented units, signalled a substantial shift of capital toward new energy and materials through 2030, and set a prog…