Sinopec forecasts 50% jump in 2018 profit
Published by Alex Hithersay,
Editorial Assistant
Hydrocarbon Engineering,
China Petrochemical Corp. (Sinopec Group) forecasts that its 2018 profit jumped over 50% on the back of lower costs and rising sales.
As well as increasing production and cutting costs in the upstream sector, chemicals marketing volume rose from the previous year as the group “deepened integration” between production, marketing, research and application.
The group also aggressively expanded sales of refined oil, which exceeded 40 million t for the first time and total sales of lubricant rose 5% from last year; of which high-end products jumped 10%.
In its oil refining business, diesel to gasoline ratio was lowered to 1.06, as the group completed quality upgrading of the fuel.
Read the article online at: https://www.hydrocarbonengineering.com/petrochemicals/08012019/sinopec-forecasts-50-jump-in-2018-profit/
You might also like
Technip Energies inks cooperation agreement with Congo’s Ministry of Hydrocarbons
Congo’s Ministry of Hydrocarbons has signed a cooperation agreement with Technip Energies that will see the parties expand cooperation in the fields of offshore and onshore energy developments.