Page 81 - Sinopec News Today

Chinese refining giant Sinopec Corp reported on Sunday a 20.1% fall in interim net profit for the first half of the year compared with the year-ago period, to 35.11 billion yuan ($4.82 billion), on lower crude prices despite higher refinery output and growth in fuel sales.

Sinopec’s first-half profits shrank amid lower oil prices and fuel demand being weighed down by China’s sluggish economic recovery, reports the South China Morning Post. China Petroleum & Chemical Corporation, as it’s officially known, posted net income of RMB 36.12 billion ($4.96 billion), according to international financial reporting standards. That compared with a revised RMB…

ALBAWABA – The United States (US) is seeking to reinforce stable US-China ties and “healthy competition” between the world’s two largest economies

Sinopec reported a 20% decline in its net profit for the first half of 2023, a drop driven by lower oil prices and weaker-than-expected fuel demand.

Asia's top refiner, Sinopec Corp 0386.HK, is not interested in acquiring Shell's refinery or petrochemical plant in Singapore…

China's Sinopec Corp is not interested in acquiring Shell's refinery or petrochemical plant in Singapore, Sinopec President Yu Baocai said on Monday.

China Petroleum & Chemical Corporation, or Sinopec, reported this weekend a 20.1% decline in its net profit for the first half of 2023, amid lower international crude oil prices and weaker-than-expected fuel demand recovery in China. The net profit ...

China’s giant refiner Sinopec Corp. has said it will not acquire Shell Plc’s refinery or petrochemical plant in Singapore but will instead invest in Saudi Aramco’s Jafurah natural gas project alongside TotalEnergies

Sinopec, the world's largest refiner by capacity, reported revenues of 1.59 trillion yuan for the six months, down 1.1% from the year earlier level. During the period, Sinopec processed a total of 126.54 million metric tons of crude oil, up 4.8% versus a year ago, and its refined fuel sales rose 18.5%, to 116.6 million tons, the company said in a stock filing. Domestic fuel demand extended recovery in the second quarter after a 6.7% year-on-year increase in the first three months, led by ...

(Reuters) - Chinese refining giant Sinopec Corp reported on Sunday a 20.1% fall in interim net profit for the first half of the year compared with the...