LNG

Mar 23 (LNGJ) - China Petroleum and Chemical Corp., also known as Sinopec, said its operating profit was down more than 24 percent year-on-year, though it would continue to invest in exploration and production and liquefied natural gas projects in the provinces of Shandong and Guangxi. Fu Chengyu, Chairman of Sinopec, said: "Under the severe market conditions of 2014, Sinopec focused on growth quality and efficiency, achieving safe and stable production. In 2015, China will enter a new normal phase of slower growth while international crude oil prices are likely to stay low.”