Latest News:  
Beijing   Sunny    17 / 4   City Forecast

People's Daily Online>>China Business

Sinopec's net profit up 1.4% in 2011

(Xinhua)

08:23, March 26, 2012

BEIJING, March 25 (Xinhua) -- Sinopec Corp., Asia's largest oil refiner, said on Sunday that its net profit added only 1.4 percent year-on-year to 71.7 billion yuan (11.38 billion U.S. dollars) in 2011 under China's accounting standards amid a slowing world economy and volatile global financial markets.

Its earnings per share stood at 0.827 yuan last year, up 1.3 percent from previous year, the company said in its annual report filed with the Shanghai Stock Exchange.

Revenue climbed 31 percent year-on-year to 2.5 trillion yuan, according to the report.

The company said that its crude oil output dropped 1.9 percent from a year earlier to reach 322 million barrels last year due to rising oil prices.

Natural gas output rose 17.1 percent to 517.07 billion cubic meters.

Sinopec expects global oil price to remain at high levels due to the geopolitical tension, while domestic demand for petrochemical products will grow at slower pace as a result of economic restructuring.

Email|Print|Comments(Editor:张茜)

Leave your comment0 comments

  1. Name

  

Selections for you


  1. Training of Chinese bodyguards

  2. Raptors defeat Knicks 96-79

  3. Strong winds hits Beijing, city issues warning

  4. Belarussian creations shown in Moscow

Most Popular

Opinions

  1. China yet to be a sea power
  2. Prevent nuclear terrorism
  3. Conditions needed for Annan's peace mission
  4. Will Syria crisis be transformed into an opportunity?
  5. Chinese economy will not suffer a hard landing
  6. Monk move in Nansha Islands new ploy by Vietnam
  7. Protectionism cannot save U.S. auto industry
  8. China continues to promote peace in Afghanistan
  9. Nuclear security cooperation
  10. Arms race will happen, but who to blame?

What's happening in China

Leung Chun-ying declared winner of Hong Kong's chief executive election

  1. China arrests 300 over contract frauds
  2. China Unicom tops rivals in 3G users
  3. Child fatality ruled an accident
  4. Free gold for villagers in Jiangsu
  5. E-commerce platform unfreezes users' accounts

PD Online Data

  1. Spring Festival
  2. Chinese ethnic odyssey
  3. Yangge in Shaanxi
  4. Gaoqiao in Northern China
  5. The drum dance in Ansai