Chinese major Sinopec posts fall in net profits on weak domestic natural gas and petrochemicals markets
China Petroleum and Chemical Corp. (Sinopec), one of the world’s top 10 oil and gas companies and a significant liquefied natural gas importer to back up its refining and petrochemical activities, reported a 21 percent increase in annual revenues but net profits dropped by almost the same amount on weak domestic demand.
LNG importer Sinopec reports record revenues and higher profits amid rise in domestic natural gas output
China Petroleum & Chemical Corp., known as Sinopec, and an importer of liquefied natural gas cargoes from Queensland in Australia and from the US and Qatar, reported a more than 5 percent first-half increase in domestic natural gas output to partially offset its LNG needs.
Sinopec doubles profits and increases LNG procurement from US and Qatar amid rise in China shale output
China Petroleum and Chemical Corp. (Sinopec), one of the world’s top six oil and gas companies and a significant liquefied natural gas importer to back up its refining activities, more than doubled annual net profits as prices soared and it continued to seal LNG supply deals.
