Addax wins kudos for social responsibility

Addax Petroleum, the biggest overseas subsidiary of China's oil giant Sinopec Group, is determined to fulfill its social responsibilities in Africa, China and other developing countries as it expands its business.

The Permanent Mission of China to the UN Office in Geneva has hailed the company for its successful projects in education, health and the environment in Africa and China, which it said has set an excellent example for Chinese companies investing overseas.

Zhang Yi, CEO of Addax Petroleum, a former Geneva-based company that was sold to Sinopec in 2009 for $7.6 billion said: "We have treated the fulfilling of our social responsibility as part of our soft competitiveness.