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 production amidst President Biden’s decision to halt the construction of the Keystone XL Pipeline.
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.
Under the Biden government, Sinopec’s Fuling Shale Gas Field hit a country-wide record for production quantity.
A company press release notes:
Fuling Shale Gas Field – the first commercially developed and operated large-scale shale gas field in China – announced on October 8 that it has produced 40 billion cubic meters of shale gas, setting a new record for the cumulative production of shale gas in the country.
BHR Partner’s 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.”
Sinopec’s record-breaking success follows the Biden regime’s assault on American energy independence, including the cancellation of the critical Keystone XL Pipeline and shutting down oil and gas lease sales from federal land in his first days in office.