Developments: Sinopec Shanghai, a subsidiary of Sinopec and the largest ethylene producer in China, recorded a 16.5% year-over-year increase in net profit during the first nine months of 2010, as compared to the same period a year ago. Meanwhile, the company's operating revenue was up 61% for the same period. For the third quarter, revenue was up 45% year-over-year. The company is seeking a 40% stake in Repsol's (REP) Brazilian subsidiary in return of equity.
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