BEIJING, June 11 - Sinopec (600028.SH; 0386.HK; SNP.NYSE)announced that it plans to double oil product import in June to one million tons to ease the fuel shortage in China.

     The company said it has ensured oil import resources.

     Fuel shortage, especially that of diesel, is spreading in many  parts of the country as demand keeps rising when summer comes.

     Last weekend, a government official said China won't liberalize oil product price soon. So, Sinopec's refining loss may be further enlarged upon increasing import of crude in the near future, and its  profit mainly depends on the government's subsidiaries anyway.

     It is predicted that Sinopec's oil product supply will grow 18.5 percent year on year in the first half of this year; crude oil processing volume, rise 6.1 percent; and crude oil output expand 8.9  percent.