Sinopec, Cosco Shipping, China Eastern certify China's first carbon-neutral oil cargo

Man stands next to a logo of Sinopec at an expo on rubber technology in Shanghai
A man stands next to a logo of Sinopec, or China Petroleum and Chemical Corporation, at an expo on rubber technology in Shanghai, China September 19, 2018. Picture taken September 19, 2018. REUTERS/Stringer

SINGAPORE, Sept 22 (Reuters) - China's refining giant Sinopec Corp said on Wednesday it has jointly certified the country's first carbon-neutral crude oil cargo with shipping giant Cosco Shipping and China Eastern Airlines (600115.SS).

The 30,000-tonne cargo was produced by Sinopec in Angola and shipped by Cosco Shipping to an east China-based Sinopec refinery for processing, Sinopec said.

To offset the carbon dioxide produced during the process from crude production to shipping to consumption by vehicles and airplanes, the three state firms bought Chinese Certified Emissions Reductions credits.

These credits that will go to investing in carbon-reducing projects such as tree planting, solar, wind and biomass power generation in China.

Reporting by Chen Aizhu, Editing by Louise Heavens

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