Sinopec Net Profits Soar on Oil Price Hike

On March28,Sinopec Corp.held its performance review meeting2010in Hong Kong.Sinopec saw operating revenue of1913.18billion yuan in2010,an increase of42.2%over the previous year,with net profit of70.71billion yuan,going up by12.8%over last     

Profits of Sinopec Rise Sharply in First Quarter

China Petroleum and Chemical Corporation (Sinopec) announced in late April that its net profit in the first quarter of 2009 rose 85.1 percent year on year, because of lower international crude oil prices and adjusted refined oil prices on the domestic market. The net profittotaled 11.219 billion yuan (US＄1.64 billion) in the first quarter, due to the country's adjusted refined oil pricing mechanism since the beginning of this year.     

Sinopec Reports Record High Growth for Main Business in 2003

Based on the information made available from the work conference of Sinopec held on December 27 to 29, the main business indexes of Sinopec in 2003 set a record high in its history.The growth for the company's sales revenues in 2003 is expected to exceed 10 percent while the growth for the profits expected to surpass 70 percent. Meanwhile, the crude and natural gas production grows by 0.3 percent and 5.3 percent separately, the crude processing volume by 9.9 percent, the ethylene production by 1.28 percent,and the domestic oil products sales by 8.1 percent.     

Sinopec Puts 1.5b yuan Aside for Overseas Investment in 2003

Reportedly, Sinopec plans to invest 1.5 billion yuan (US$182.2 million) for overseas exploration and production in 2003, three times as high as that in 2002, for boosting the crude oil production and reserves. Sinopec is currently making study of more than 10 overseas upstream projects and will complete appraisal on some of those projects next year. Sinopec     

Sinopec Records Net Profit of 43.7 Billion Yuan in 2015

<正>In accordance with the International Financial Reporting Standards(IFRS),Sinopec’s net profit was 43.7billion yuan in 2015,dropping 8.9 percent on a year-onyear basis.The net profits reflect integrated advantages amid sluggish oil price.The operating profits for the refinery segment and the chemical segment significantly increased to 21.0 billion yuan and 19.7 billion yuan,respectively.Both segments became the main drivers of the Company’s profit and offset the less favorable     

CNOOC Limited 2003 Interim Profits Hit Record High

CNOOC Limited announced on September 4 that for the six months ended June 30, 2003, the unaudited net profit surged to 6.3 billion yuan(US$765 million), a 75.0% year-overyear increase from 3.6 billion yuan(US$437 million), the highest in the company‘s history, and the total revenues increased 68.3% to 17.9     

CNPC Reports 109.1 Percent Growth in Profits in First Half of 2003

Based on the information made available from CNPC, the oil giant has achieved the satisfactorybusiness results in the first half of this year despitethe fluctuating oil prices at the international marketand the outbreak of SARS epidemic at home.     

Sinopec Performance Reported for 2000

Sinopec Ltd. issued on April 17, 2001 its Report on Performance for the year of 2000. According to the report, the joint-stock corporation had earned a total income of RMB328.901 billion from turnover and other operations, an increase of 37.04% over the previous year; realizing a profit of RMB 19.004billion, up 306.8% compared to the previous year; with the return on lockedin capital reaching 10.03%.……     

Foreign Cooperation Fruitful for Sinopec

On October 21, just the eve of Chinese President Jiang Zemin's visit to the United States, a total of 13 big-name enterprises in China and the United States signed five agreements in New York for cooperation in the petrochemical, telecom and energy fields with the contracted capital totaling US$4.7 billion. Of those deals, Sinopec Limited and ExxonMobil inked a framework agreement to beef up their bilateral strategic alliance and push ahead with their join venture projects developed in Southeast China's Guangdong Province and Fujian Province.     

Sinopec Gets Capital Injection for Marketing

<正>Asia’s largest refiner,China Petrochemical Corporation known as Sinopec,said in early January 2015 that it had received approval for a 107.1 billion yuan(US$17.2billion)capital increase for its marketing subsidiary,a big step in the country’s mixed-ownership reform of state-owned enterprises.Sinopec said that the National Development and Reform Commission,the top planning agency,and the Ministry of Commerce had approved the cash injection by 25 foreign and domestic investors into Sinopec Marketing Co.,Ltd.     

Sinopec Accelerates Its Strategy for Internationalization

<正>China Petrochemical Corporation (Sinopec) is obviously accelerating its strategy for acquisition of overseas oil and gas assets in 2010. The second largest oil and gas producer in China aims to take advantage of the worldwide resources to meet the country’s oil demand that is rising at a double-digit growth rate.     

中国石化ERP推进信息化

中国石化集团信息化建设年年有突破,2004年ERP的试点企业进一步扩大到江苏油困、扬子石化、管道储运公司。     

Sinopec Encouraged for Oil and Gas Exploration

Shengli hopeful to find oilfield with 100-million-ton reservesA total of 27 wells have been so far drilled in Zhuanghai area of Sinopec Shengli Oil Field with the proven oil in place accumulated to 45.46 million tons. It is hopeful to prove another 50 million tons of oil in place in this region next year so that another oil field with the reserves of 100 million tons is taking shape.     

Sinopec Remarkable for Its 2005 Business Results

Sinopec, China＇s largest oil refiner, produced 278.82 million barrels of crude oil in 2005, up 1.7 percent from the previous year, according to the statement released by the company in mid-January. Meanwhile, Sinopec produced 221.92 billion cubic feet of natural gas in 2005, up 7.20 percent year-on-year, and refined 139.94 million tons of crude oil, 5.26 percent higher than a year ago.     

Sinopec Sees Favorable Situation for Exploration and Development

Development integration management at Shengli Shengli Oil Field, the largest oil field under Sinopec Corp located in East China has adopted the integration management for oil field development to maximize the economic benefits. The oil field development integration is based on the systematic management to bring all the specialized development chains under a unified plan,covering the decision-making process, design, operation and verification of the oil field development.     

Sinopec Fruitful for Its Business Development in 2006

China Petrochemical Corporation （Siaopec） planned to strengthen its efforts for oil and gas exploration and development in 2007 with more investment for overseas exploration and development. The second largest oil and gas producer in China produced over 40 million tons of crude oil and 7 billion cubic meters of natural gas in 2006 while its proven recoverable reserves of crude oil grew by 45 million tons in 2006 and natural gas proven recoverable reserves increased by 73.9 billion cubic meters.     

Sinopec Wins Bid for Special Asphalt for Racing Track

On February 13 Sinopec and Shanghai International Circuit held a signing ceremony in Beijing for the contract to supply special asphalt for racing track use. Mr. Wang Jiming,Vice Board Chairman and President of Sinopec and Mr. Wang Tianpu, Senior Vice President of Sinopec, attended the ceremony.