Fu Chengyu, the former chairman of Sinopec who retired eleven years ago, was taken away from his home. He is being investigated for issues regarding the allocation of massive assets and the transfer of family interests during his tenure at Sinopec.
On September 15, a fire broke out near the YASREF refinery in the Yanbu Industrial City of Saudi Arabia, and personnel were evacuated, suspected of being attacked by Houthi forces. The plant is a joint venture between Saudi Aramco and Sinopec, making it China's largest investment project in Saudi Arabia and a landmark project for Belt and Road energy cooperation. Officials have not yet confirmed the details of the attack.
A fire broke out at a gas chemical complex under construction at a joint venture with China's Sinopec in Russia's Far East, killing 6 Chinese citizens, leaving 9 Chinese workers missing, and injuring about 150 people.
In May 2006, Li Wei, through Huang Songyou, Yang Xiancai and others, signed a contract in the name of Sinopec with a company under Guo Cheng, buying the North Tower of Zhongcheng Plaza in Guangzhou for more than 1.3 billion yuan; the building was sealed up over debt disputes after its completion in 1996.
On August 31, 2004, Du Shicheng presided over a special meeting of the Qingdao Municipal Party Committee to study land for housing for Sinopec experts and employees; through the coordination of Vice Mayor Luo Yongming, a total of 1000 mu of land was secured across the Qingdao Economic Development Zone, Huangdao District, and Jiaonan City.
In July 2004, Sinopec's Beijing branch and Beijing Shouchuang Petroleum Investment Co., Ltd. jointly established a joint venture with a registered capital of 1 billion yuan; the former invested 700 million yuan in the physical assets of 123 gas stations, while the latter contributed 300 million yuan and planned to build 60 new gas stations.
In June 2004, the feasibility report for the Qingdao mega refinery project was approved by the State Council. The project was the first refinery in China approved with a single-phase construction capacity of 10 million tons; Li Wei used this to develop related real estate business in Qingdao.
In March 2004, Chen Tonghai, then General Manager of Sinopec Group, convened a meeting of Taishan Petroleum executives to discuss the restructuring of Taishan Real Estate. Taishan Petroleum insiders claimed that the withdrawal was actually manipulated by Chen Tonghai.