Home | Register | Login | Help | Forum | Log out
Agencies & Partnership
Company Directory
Our Global Network
About Us
Focus News Industry research Exhibition Regulation & Law Executive Talks
Search:
 
Home > Resources > News > Business > Biz_World
Sinopec Reports 30% Rise in Net Profit in 2006
POSTED: 1:05 p.m. EDT, April 10,2007

China Petroleum & Chemical Corp, better known as Sinopec, recorded a 30 percent rise in net profit in 2006 as strong domestic fuel demand and weaker crude oil prices late in the year offset refining losses.

The net profit of Asia's largest refiner by capacity totaled 53.9 billion yuan (US$7 billion) in 2006, up from 41.5 billion yuan in 2005, the company reported today, according to The Associated Press.

State subsidies worth 5 billion yuan also helped boost earnings.

Revenue rose to 1.05 trillion yuan from 799.3 billion yuan the year before, the company reported.

Sinopec's operating loss for its refineries jumped to 23.9 billion yuan from 7.84 billion yuan in 2005.

But its marketing division saw a 60.7 percent jump in operating profit on strong fuel sales last year. Sinopec owns China's largest gasoline station network.

The company said it expects to report a more than 50 percent jump in net profit for first quarter 2007 due to expanded operating capacity. It did not give a figure. In 2006, Sinopec's first quarter net profit was 9.1 billion yuan.

From:
Print | Save
RELATED
CNOOC reports net profit up 22% in 2006 (2007-3-29 18:32:00)
NOL 2006 net profit plunges 57pc (2007-3-2 8:56:00)
BoB net profit up 63% to Rs 329 cr (2007-1-25 9:40:00)
Sinopec calls for new oil pricing mechanism (2007-1-19 15:16:00)
Home - Shipping - Airfreight - Integration - Members - Resources - My Jctrans - Links
About Us - Help - Contact Us - Site Map
嶄猟利
Privacy Policy - Terms of Use
Copyright Notice 2000-2007 Jctrans.com Corporation and its licensors. All rights reserved.