Russian oil "a tiny percentage" in Sinopec's oil purchases, exec says

Reuters03-25

March 25 (Reuters) - Sinopec Corp bought some Russian oil last year based on operational needs, but it accounted for a "tiny percentage" of its overall demand, company president Yu Baocai said on Monday.

Sinopec rarely uses Chinese yuan in international oil trades, Yu told reporters at an earnings briefing in Hong Kong, after the refining giant reported on Sunday a 9.9% decline in net income last year.

(Reporting by Alison Lui in Hong Kong, writing by Chen Aizhu in Singapore; Editing by Toby Chopra)

((aizhu.chen@thomsonreuters.com; Reuters Messaging: aizhu.chen.reuters.com@reuters.net))

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