Sinopec, Shell, China Baowu and BASF will explore open-source CCUS development to achieve carbon goals SHANGHAI, Nov. 4, 2022 /CNW/ — China Petroleum & Chemical Corporation (HKG: 0386, “Sinopec”) has signed a non-binding MoU with Shell, China Baowu and BASF to launch the first 10-million-ton carbon capture, utilization and storage (CCUS) project in East China. The open-source project will support industries in the region to decarbonize their operations and establish low-carbon supply chains, leading China’s CCUS development and achieving the region’s “dual carbon” goals. CCUS, the carbon reduction process of capturing and making effective use of CO 2 from industrial-sourced…