China In-Focus — Sinopec Shanghai Petchem shut crude, ethylene units; Evergrande sticks to restructuring plan

RIYADH: Sinopec Shanghai Petrochemical Co. has shut its crude oil refining and ethylene units to evaluate safety risks after a fire on Saturday hit a chemical facility, a company spokesperson said.

The spokesperson did not specify the duration of the shutdown but said the firm will ensure stable domestic fuel supplies.

The Shanghai-based plant, controlled by state refiner Sinopec Corp., operates 16 million tons per year crude oil refining capacity and 700,000 tons of ethylene capacity annually.

Evergrande sticks to restructuring plan