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. 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.
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