China National Chemicals Import & Export Corp, the nation's largest foreign trading company, changed its name to Sinochem Corp to reflect its transformation from a traditional trader into a company with a complete business scope covering manufacturing and marketing.
The company is the largest refined oil importer in China and is actively expanding its oil reserves overseas and has acquired a Norwegian company, Atlantis, with interests in oil and gas fields in the Middle East.
Sinochem is also looking at acquiring reserves in South America.