A Chinese state-run oil and gas company linked to the son of the President of the United States, Hunter Biden, hit record levels of natural gas production amidst the Biden White House’s assault on American energy independence.
Sinopec, also known as China Petroleum & Chemical Corporation, is a Chinese Communist regime-controlled oil and gas enterprise. Its “fully-owned subsidiary” Sinopec Marketing Company enjoyed nearly $1 billion in investment from Hunter Biden’s private equity firm BHR Partners.
Finalized in March 2015, the investments from the controversial investment fund led to BHR Partners amassing a nearly 30 percent stake in Sinopec.
Hunter reportedly still owns a 10 percent stake in BHR Partners, whose LinkedIn profile highlights its Sinopec investment, revealing it was involved “in the pilot state-owned enterprise reform deal involving the segregation and capitalization of Sinopec Group’s non-oil business into Sinopec Marketing Corporation.”
A press release from the energy company – “Sinopec Puts Largest Gas Storage Cluster in North China into Operation” – details its record-breaking, new natural gas storage facility. Its current storage size of 10.03 billion cubic meters is expected to increase by an additional 1.116 billion cubic meters following the completion of additional gas storage facilities.
“Sinopec continues to accelerate the construction of gas storage facilities and improve gas storage and peak shaving capabilities in China. The Company is stepping up to complete key projects including the Zhongyuan gas storage cluster and Huangchang gas storage facility in Hubei Province and more after completing the gas storage facilities including Yong 21 in Shandong Province, Wei 11 in Zhongyuan Oilfield region, Guxi in Jilin Province and Qingxi in Sichuan Province, steadily expanding the scale of natural gas storage and effectively improving the storage capacity and gas peak shaving capability to guarantee the supply of natural gas,” the company explains.
The new project follows Sinopec’s Fuling Shale Gas Field hitting a country-wide record for production quantity amidst the Biden White House canceling the construction of the Keystone XL Pipeline.