MARCH 17, 2004

Sinopec to sponsor Chinese GP

The China Petroleum  &  Chemical  Corporation  (Sinopec)  has signed  a  long-term  agreement to be sponsor of the Chinese GP in Shanghai. The news comes as a surprise as it had been thought that a deal was in place for Marlboro.

The China Petroleum Ê& ÊChemical ÊCorporation Ê(Sinopec) Êhas signed Êa Êlong-term Êagreement to be sponsor of the Chinese GP in Shanghai. The news comes as a surprise as it had been thought that a deal was in place for Marlboro. However the Chinese government's decision to move against smoking has obviously played a role in the decision-making process and the country's oil company has stepped in instead.

"Sinopec is the ideal sponsor for the Chinese Formula 1 Grand Prix," says Bernie Ecclestone.

Sinopec is the largest oil company in China and the world's sixth biggest petrochemical company.