Off the wire
• Kenyan court overturns release of ivory kingpin on bail  • LME base metals slide again on Wednesday  • Danish, German troops to arrive in Latvia for military exercise  • Feature: Kenyan students relish journey to China to pursue dreams  • Jordan to beef up security at Aqsa Mosque amid attacks  • Botswana court orders gov't to provide foreign inmates with ARV treatment  • Caleb Ewan wins fifth stage of Vuelta as Dumoulin sneaks into  • Angry Bird maker to lay off over one third of employees  • French stock market index down 1.40 pct on Wednesday  • Djokovic, Federer named top two seeds of US Open men's singles  
You are here: 　 Home

Sinopec's H1 net profits decline 22.3 pct

Xinhua, August 27, 2015 Adjust font size:

Sinopec, one of China's top oil refiners, reported a sharp decline in net profits on Wednesday, mainly due to weak oil prices.

The group's net profits dropped by 22.3 percent year on year to 24.4 billion yuan (3.81 billion U.S. dollars) in the first half of this year, according to its interim financial report.

As international oil prices hover at low levels, the company's oil and gas exploration saw a deficit of 1.8 billion yuan.

The low price of crude oil pushed up the company's profits in oil refining and chemical engineering.

Sinopec's total revenue shrank 23.3 percent to 1.04 trillion yuan in the first six months. Endi