News Column

Sinopec H1 Net Hit CNY31.4bn

August 25, 2014

BEIJING, August 25, SinoCast -- China Petroleum and Chemical Corp. (Sinopec and SHSE: 600028) reported operating revenue of about CNY 1.36 trillion for the first half of 2014, down 4.2% from a year ago. Net profit attributable to parent shareholders rose 6.8% to CNY 31.43 billion, or about CNY 172 million per day.

Oil and gas equivalent output hit 237.01 million barrels, up 8%. Crude oil output rose 7.52% to about 177.88 million barrels, of which 154.15 million barrels were produced at home and 23.73 million barrels were turned out at abroad, up 0.32% and 101.44%, each. Natural gas output increased 9.46% to 354.8 billion feet.

Crude oil processed was 116 million tons, up 0.32%. Finished oil output inched up 2.68%.

Capital expenditures was about CNY 39.19 billion. Taxes excluding revenue tax fell 0.7% to CNY 93.8 billion.

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Source: Sinocast Energy Beat (China)

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