China's Sinopec reports 16.74% rise in refining in H1

20:07, July 20, 2010      

Email | Print | Subscribe | Comments | Forum 

China Petroleum and Chemical Corp. (Sinopec), the nation's largest oil refiner, said Tuesday that it processed 101.45 million tonnes of crude oil in the first half of 2010, up 16.74 percent year on year due to strong growth of the Chinese economy.

The company, also a leading oil producer, said in a preliminary report that its natural gas output rose strongly by 40.73 percent from the same period last year to 200.56 billion cubic meters despite crude oil output only rising 0.05 percent to 149.19 million barrels.

Sinopec saw diesel output rise by 13.33 percent to 36.72 million tonnes in the first half from a year earlier, while kerosene was up 29.96 percent, the company said.

Strong domestic economic growth in the first half had contributed to the increases in its rising output.

China's gross domestic product (GDP) grew 11.1 percent year on year in the first half, according to the National Bureau of Statistics.

Gasoline output rose by 4.59 percent year on year in the first half,said the company.

Ethylene went up by 41.34 percent, synthetic resins by 28.51 percent, synthetic fibers by 7.47 percent and synthetic rubbers by 18.58 percent.

Domestic sales of refined oil products rose sharply by 18.09 percent year on year to 68.15 million tonnes in the first half.

Sinopec reported its net profit in the first quarter rose 39.93 percent year on year to 15.785 billion yuan (about 2.3 billion U.S. dollars).

Listed in Hong Kong, New York, London and Shanghai, Sinopec is the listed subsidiary of China Petrochemical Corporation (Sinopec Group).

The company share price in the mainland A-share market gained 3.58 percent to 8.38 yuan on Tuesday and climbed 0.832 percent in the Hong Kong market to 6.06 Hong Kong dollars.

Source: Xinhua


  • Do you have anything to say?


Special Coverage
  • Premier Wen Jiabao visits Hungary, Britain, Germany
  • From drought to floods
Major headlines
Editor's Pick
  • The graphics shows the launch procedures of the carrier rocket of Tiangong-1 space lab module, Long March-2FT1 on Sept. 29, 2011. (Xinhua/Lu Zhe)
  • Image taken from Beijing Aerospace Control Center shows a Long March-2FT1 carrier rocket loaded with Tiangong-1 unmanned space lab module blasting off from the launch pad at the Jiuquan Satellite Launch Center in northwest China's Gansu Province, Sept. 29, 2011. (Xinhua)
  • On Sept. 28, tourists travel around the Mingshashan Scenic Area in Dunhuang, Gansu province by camel. With the National Day vacation right around the corner, more and more tourists from home and abroad are going to Dunhuang. Riding on a camel, they travel in the desert to enjoy the cities rare form of natural scenery. (Xinhua/Zhang Weixian)
  • Chinese forest armed forces work together with forest firefighters on Sept. 28. (Xinhua/Chai Liren)
  • Photo taken on Sept. 29, 2011 shows strong wind blows trees in Sanya, south China's Hainan Province. Typhoon Nesat heads towards south China and is moving at an average wind speed of 20 km per hour toward the west coast of China's Guangdong Province. (Xinhua/Hou Jiansen)
  • A fallen tree is seen on a road in Qionghai, south China's Hainan Province, Sept. 29, 2011. Typhoon Nesat was predicted to land in Hainan later Thursday, bringing heavy rainfalls to the island. (Xinhua/Meng Zhongde)
Hot Forum Discussion