Yesterday it was
reported that a new blockchain consortium is to be created by Sinochem and PetroChina, two state-owned Chinese oil firms. The group hopes to raise $15 million to build a blockchain platform for the petroleum trade.
Though there are reportedly other companies involved, from China and internationally, only the above two are named. Interestingly, the two have more in common than both being state-owned.
Sinochem’s previous General Manager, Zhang Wei, moved to work at China National Petroleum in December, which owns PetroChina. Also just yesterday, it was
announced that Sinochem appointed a new General Manager, Yang Hua, who was formerly running the China National Offshore Oil Corporation (CNOOC).
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