Sinopec plans US projects ahead of Trump's visit

SINGAPORE - China's State oil major Sinopec is evaluating two projects in the United States that could boost Gulf Coast crude oil exports and also expand storage facilities in the Caribbean, two people familiar with the matter said on Tuesday, with US President Donald Trump set to visit Beijing next week.

With US-China energy trade likely to feature prominently during Trump's visit, the people said one of the projects could see Sinopec partnering with US commodities trader Freepoint Commodities and US private equity firm ArcLight Capital Partners.

The trio is mulling building a pipeline to move shale oil from the Permian basin in Texas to the US Gulf Coast for export, the people said.