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China’s Sinopec’s profit falls 21.6% in H1

by ChemOrbis Editorial Team - content@chemorbis.com
  • 29/08/2016 (13:58)
According to media reports, China Petroleum and Chemical Corporation’s (Sinopec) net profit declined 21.6% to 19.9 billion Yuan ($2.98 billion) from 25.4 billion Yuan in the same period of last year. The decline was attributed to low crude oil prices.

During the same period, Sinopec’s operating income also fell 13.3% on the year to 35.1 billion Yuan. On the production side, the company’s crude oil production was down 11.4% on the year in the first six months while its refinery operations slid 2.51% from a year earlier. However, the company’s total domestic refined fuel sales rose by 3.1% in the same period.
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