Sinopec
China Petroleum and Chemical Corporation ("Sinopec Corp."
or "the Company") is an integrated energy and chemical
Company with principal businesses of exploration, production
and trading of petroleum and natural gas, refining and sales
of petroleum products and production and sales of chemical
products. The major assets of the Company are mainly in
eastern and southern districts of China, which are enjoying
the fastest economic growth in China.
See more information about Sinopec
Sinopec posts 333pct increase in H1 profit
China Petroleum and Chemical Corporation (Sinopec) yesterday announced its first half net profit rose 332.8 percent year-on-year to RMB33.25 bn, due to higher refined oil prices on the domestic market.
The huge increase will make it more more difficult for the refiner to maintain its 'victim' tag, however a spokesperson for the company already told newspaper China Securities today: "if the price of gasoline cannout be adjusted in August our refinery business will lose money".
Sinpoec also announced it is actively seeking overseas investments in oil and gas resources as part of its new three-year plan to boost crude oil and natural gas production.
Other Sinopec news
- Sinopec to buy Addax Petroleum for C$8.27 billion
2009-06-25 - Sinopec to raise fuel exports
2009-02-27
