Sinopec’s Chemicals segment rise in operating profits sales

Sinopec’s Chemicals segment rise in operating profits and sales

12:42 PM, 30th March 2011
Sinopec’s Chemicals segment rise in operating profits and sales

 

BEIJING,CHINA: China Petroleum & Chemical Corporation (Sinopec) announced its audited annual results for the full year ended 31 December, 2010.

 

Financial Highlights - The company’s operating income was RMB 1,913.18 billion, up 42.2 per cent from the same period in 2009. Net profit attributable to equity holders of the company was  RMB 70.71 billion, representing an increase of 12.8 per cent over the same period of last year.

 

Business Highlights - In 2010, the company produced 328 million barrels of crude oil, stable compared to the same period last year; and produced 441.4 billion cubic feet of natural gas, representing an increase of 47.6 per cent over the same period last year. The exploration and production segment recorded an operating profit of RMB 47.15 billion for 2010, representing a year-on-year increase of 97.3 per cent.

 

In 2010, the company processed 211 million tonnes of crude oil, up 13.2 per cent year-on-year, and produced 124 million tonnes of refined oil products, an increase of 9.4 per cent from the previous year. The refining segment recorded an operating profit of RMB 15.86 billion, declined by 42.4 per cent from 2009.

 

Total domestic sales volume of refined oil products reached 140 million tonnes, representing a year-on-year increase of 13.3 per cent. The marketing and distribution segment recorded an annual operating profit of RMB 30.76 billion, up 1.5 per cent over 2009.

 

Total sales volume of chemical products for 2010 reached 43.50 million tonnes. Ethylene annual output reached 9.059 million tonnes, up 34.9 per cent over the same period last year. The chemicals segment recorded an operating profit of RMB 15.04 billion for 2010, increased by 8.9 per cent year-on-year.

 

In 2010, the company’s total turnover, other operating income and other revenues increased by 42.2 per cent year-on-year to approximately RMB 1,913.18 billion. Sinopec’s operating profit was RMB105.0 billion, representing an increase of 15.8 per cent over same period of 2009. This mainly attributed to the fast growth of domestic economy, growing demand for petroleum and petrochemical products,

and continuous expansion of the company’s operational scale and the increase in the price of crude oil, oil products and petrochemical products. 

(C) WOC News

 

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