Sinopec (SNP.NYSE; 0386.HK;600028.SH) is going to follow "conservative" investment to pull through the tighter cash flow, China Business News quoted Sinopec president Wang Tianpu as saying.

    Sinopec was pressed by the shrinking cash flow, which would be particularly seen in the rest months of this year, Sinopec boss Su Shulin said earlier.

    Sinopec has decided to reduce investment in non-core businessand suspend unnecessary projects.

    Till July, Sinopec has cut investment by 8.5 billion yuan, including 8.2 billion under capex category with investment in chemical sector, E&D and refining respectively reduced by 4.6 billionyuan, 1.9 billion yuan and 1.7 billion yuan.