31-03-09 China Petroleum & Chemical Corp. (Sinopec) will see capital expenditure growth by CNY 4.5 bn in 2009, including CNY 1 bn in prospecting.
A refining and ethylene project in Tianjin and the other two projects under Fujian Refining & Chemical Co. and Zhenhai Refining & Chemical Co. (ZRCC) in Zhejiang Province come into the middle and final phases and need large inputs.

Sinopec takes the measures to ease the impacts from the financial crisis and low crude oil prices. In the opinion of Su Shulin, the company's chairman, the crude price will rally in the near future.
As upstream crude production make contributions to the company's profits, Sinopec has not limited production or shut down oil wells, but the ethylene project in Wuhan and the purified terephthalic acid (PTA) project of Sinopec Yizheng Chemical Fibre Co. in Jiangsu Province will put off construction.