reuters.com

Sinopec Profit Rises 19.3% in H1 as Oil-Price Volatility Drives 16B Yuan Impairment

Sinopec logoSinopec
Sig2.45Sen+1.30Env-0.30Soc0.00Gov+0.40

Sinopec reported first-half net profit of 25.63 billion yuan, up from 21.48 billion yuan, despite a harsher supply environment linked to the Strait of Hormuz. The company set aside 16 billion yuan in asset impairment provisions due to oil and fuel price volatility, processed 5.6% less crude, and saw ethylene output fall 15.5%. Refining margins rose 44.1% year on year.

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