LONDON, Nov 22 (Reuters) - Sinopec Corp has halted crude and oil product buying following a deadly explosion at a pipeline in eastern China, European traders said on Friday.
At least 35 people were killed in the blast in Qingdao, one of China’s largest crude oil import terminals that supplies at least two major Sinopec refineries as well as many small, independent refineries.
“Unipec is out of the market today because of the pipeline blast,” a trader said, referring to Sinopec’s trading arm. Sinopec is China’s largest refiner.
It was unclear how long Unipec will remain out of the market. (Reporting by Dmitry Zhdannikov and Emma Farge; editing by David Evans)