What’s new: A snowmelt flood in the Taklamakan Desert in China’s Xinjiang region swamped a China Petroleum & Chemical Corp. (600028.SH, Sinopec) exploration site.
Sinopec posted a video of the flooding Thursday on social media, showing that 30,000 sets of equipment and nearly 50 exploration vehicles were flooded.
The background: Snowmelt from the Tian Shan glaciers usually takes place in the spring. But this year precipitation in the region was 8% higher than normal. Combined with the melting snow, heavy rains in the Dinar section of the Tian Shan mountains in June and July caused the flooding, according to the Sinopec video.
The flooding occurred in mid-July, and the rain has since stopped, a person at Sinopec’s oil field site in northwestern China told Caixin.
Contact reporter Denise Jia (huijuanjia@caixin.com) and editor Bob Simison (bobsimison@caixin.com)
Get our weekly free Must-Read newsletter.
