Sinopec's Profit up at 32.5 billion yuan in 1H, 2014

Posted by Joseph R. Fonseca
Saturday, August 23, 2014
sinopec

 

Asia's largest refiner - China Petroleum & Chemical Corporation announced Friday night, according to international accounting standards, the first half net profit of 32.543 billion yuan, an increase of 7.5%.

Semi-annual report and display, from January to June the company achieved operating income of 52.268 billion yuan, an increase of 11.8%; basic earnings per share of 0.279 yuan, up by 6.5%, mainly due to the refining and marketing segment operating income grew.

The same period, Sinopec achieved 237.01 million barrels of oil equivalent production, an increase of 8%, of which crude oil production was 177.88 million barrels, an increase of 7.52%, the production of 3,548 one hundred million cubic feet of natural gas, an increase of 9.46%.

In the first half, the company 116 million tons of crude oil processing capacity, an increase of 0.32%, refined oil production increased by 2.68 percent, 9.63 percent growth in gasoline, kerosene growth of 19.74%, a yield increase of 0.63 percentage points of light oil.

Looking ahead, China Petrochemical, said the slow recovery of the world economy. China's economy will maintain steady growth. The second half is expected to remain high and volatile movements in international oil prices, domestic oil products especially gasoline demand will grow rapidly, steady demand for chemical products, the market environment gradually getting better.

The company also announced the semi-annual dividend distribution program for DPS 0.09 yuan (including tax).

Sinopec A shares on Friday closed at 5.30 yuan, up 20.45 percent over the past month. 

 (Released by: Wu Fang; trial School)

Maritime Reporter April 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

U.S.: Stronger Response in South China Sea Needed

By releasing video of Beijing's island reclamation work and considering more assertive maritime actions, the United States is signaling a tougher stance over the

Aramco Offers Rare 1.5 pct Gasoil Cargo

Aramco Trading, the trading arm of oil producer Saudi Aramco, has offered a rare gasoil cargo with a 1.5 percent sulphur content for June lifting from Rabigh, traders said on Thursday.

Golden Ocean: Worst Bulk Market Since 1980s

Dry bulk shipping firm Golden Ocean reported first-quarter earnings below forecasts on Thursday and said its market had gone from "bad to worse" with market conditions not seen in three decades.

Energy

DNV GL Names Remi Eriksen Group CEO

Remi Eriksen has been appointed as the DNV GL Group’s new president and CEO, succeeding Henrik O. Madsen, who will retire August 1. The DNV GL board of directors

U.S.: Stronger Response in South China Sea Needed

By releasing video of Beijing's island reclamation work and considering more assertive maritime actions, the United States is signaling a tougher stance over the

Aramco Offers Rare 1.5 pct Gasoil Cargo

Aramco Trading, the trading arm of oil producer Saudi Aramco, has offered a rare gasoil cargo with a 1.5 percent sulphur content for June lifting from Rabigh, traders said on Thursday.

News

Israeli Port Workers Defy Court Order to Continue Strike

Striking Israeli dockworkers defied a court order on Thursday and shut down the country's two main seaports for a second day in protest at the creation of two new foreign-run ports.

New Ferry Safety Initiative from RINA

Italy-based classification society RINA informs it has launched a ferry safety initiative.    The Asset Integrity Management scheme for ro-pax ferries covers fire risk mitigation,

Korean Register Opens Green-ship Certification Center

The Korean Register informs it has formally opened the Green-ship Equipment Test Certification Center in Gunsan, Jeonbuk, Korea.   This large-scale facility will

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Navigation Offshore Oil Pod Propulsion Salvage Ship Electronics Ship Simulators Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1877 sec (5 req/sec)