Sinopec Profit Drops

Sinopec of China said its first quarter net income was 14.12 billion yuan (US$2.26 billion), down 15.3% from the same quarter a year ago.

The company’s turnover, other operating revenues and other income was RMB 641.065 billion, a decrease of 7.8% year-on-year, while operating profit was RMB 24.817 billion in the first quarter, down 9.98% year-on-year but increasing 34.17% quarter-on-quarter.

Sinopec achieved a steady increase in oil and gas output. In terms of exploration, major progress was made in marine facies natural gas in western Sichuan and central Yuanba exploration in northeastern Sichuan. While in production, construction of Fuling shale gas production capacity progressed smoothly, and the construction of key crude oil production capacity also made further progress,” Sinopec said in  a statement.

1 Chinese yuan = 0.160133 U.S. dollars

LNG World News Staff, May 5, 2014; Image: Sinopec

 

Share this article

Follow LNG World News

Events>

<< Aug 2019 >>
MTWTFSS
29 30 31 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

5th CWC China LNG & Gas International Summit & Exhibition

5th CWC China LNG & Gas International Summit & Exhibition will return 16 – 17 October 2019, bringing together the key players…

read more >

LNG Pricing, Trading & Hedging Houston

LNG Pricing, Trading & Hedging training program has been completed by hundreds of leading traders, analysts, risk managers…

read more >

World Gas Series: Morocco Summit

Bringing together key players in the gas value chain in Morocco, the World Gas Series:

read more >

Offshore Energy Exhibition and Conference 2019

The three-day event includes an exhibition where an expected 600+ supply chain companies will showcase their products and services.

read more >