Sinopec may take control of PX maker Dragon Aromatics

State-owned energy giant to buy 80 percent stake in Fujian-based company

State-owned energy giant Sinopec Corp is in advanced talks on taking a controlling stake in petrochemical firm Dragon Aromatics, which operates one of the country's biggest chemical plants, three sources with knowledge of the matter said.

The discussions come after the independent petrochemical firm suffered a second major fire in less than two years at the $3 billion plant in Fujian, and sources said local authorities want Sinopec to participate before allowing the plant to reopen.