126 views
Stock photo.

Sinopec interim profit soars by 10.4% on stronger oil and gas prices

The group reported an interim income of $8.85b.

China Petroleum and Chemical Corp. (Sinopec) reported a surge of 10.4% to $8.85b on its interim net income due to strong oil and gas prices, the group reported in a stock filing

The group reported $321.56b (CN¥1.61t) in revenues for the six months, an increase of 27.9% from the same period last year.

Sinopec processed a total of 120.76 million tonnes of crude oil, a decrease of 4.2% compared to a year ago. Refined fuel sales fell by 9.8% to 98.42 million tonnes

Covid-19 restrictions and fuel export curbs dragged down production, leading to China's first annual decline in refinery output since 2011.

Sinopec is the world’s largest refiner by capacity. 

Follow the link for more news on

Join Singapore Business Review community
Since you're here...

...there are many ways you can work with us to advertise your company and connect to your customers. Our team can help you dight and create an advertising campaign, in print and digital, on this website and in print magazine.

We can also organize a real life or digital event for you and find thought leader speakers as well as industry leaders, who could be your potential partners, to join the event. We also run some awards programmes which give you an opportunity to be recognized for your achievements during the year and you can join this as a participant or a sponsor.

Let us help you drive your business forward with a good partnership!