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CPIC to provide multiple insurance services at Sinopec SenMei gas stations

BEIJING
2015-12-17 09:10

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China Pacific Insurance (Group) Co. Ltd (601601.SH) will provide multiple insurance services at gas stations operated by Sinopec SenMei (Fujian) Petroleum Co. Ltd in east China's Fujian Province, according to an agreement reached by the two companies.

CPIC will initially provide insurance services in 25 gas stations in Xiamen, nine gas stations in Quanzhou and eight gas stations in Longyan. The cooperation between the two companies will be extended to more gas stations in Fujian.

Sinopec SenMei is a joint venture among Sinopec Corp. (SNP.NYSE; 00386.HK; 600028.SH), ExxonMobil and Saudi Aramco, with respective equity ratio of 55 percent, 22.5 percent and 22.5 percent.

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