The world’s biggest refiner, China Petroleum & Chemical Corporation, or Sinopec, is accelerating plans to build its first fully-owned refinery outside China. Sinopec is set to complete a feasibility study in June to build one or two refineries in Sri Lanka as China looks to capitalize on its foreign investments. China Merchants Port Holdings has developed and operates the Hambantota port in Sri Lanka, an island very close to India. Both China and India are vying to boost their energy presence in Sri Lanka to deliver fuel to the country, which has only one refinery built in the 1960s by Iran, capable of processing ... (full story)