Sinopec’s profits slump despite rising LNG imports

Monday, 02 November 2020

China Petroleum and Chemical Corp., better known as Sinopec, has seen net profits slump 45.7 percent to 23.51 billion Chinese yuan ($3.5 billion) in the year to date in a challenging market. Net profits fell despite a rise in the company’s LNG imports to 12.53 mt on an annualized basis, including more than 7 mt from Australia.

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