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 Today


The Maritime Industry's original and most viewed E-News Service

Maritime Reporter May 2016 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

Finance

Baltic Index Up On Higher Capesize Demand

The Baltic Exchange's main sea freight index, tracking rates for ships carrying dry bulk commodities, rose on Tuesday helped by an increase in demand for capesize vessels.

Mothballed Vessels SE Asia Reflect Oil Slump Pain

Around 1,300 offshore support vessels lying idle worldwide. Not everyone in shipping is bemoaning the industry's worst crisis in living memory: a cluster of

Asian Traders Unload Floating Gasoline as Market Flips

Gasoline shifted from tankers to landed storage or sold off; forward gasoline prices to flip to backwardation from July. The number of tankers storing gasoline

Energy

Mothballed Vessels SE Asia Reflect Oil Slump Pain

Around 1,300 offshore support vessels lying idle worldwide. Not everyone in shipping is bemoaning the industry's worst crisis in living memory: a cluster of

Asian Traders Unload Floating Gasoline as Market Flips

Gasoline shifted from tankers to landed storage or sold off; forward gasoline prices to flip to backwardation from July. The number of tankers storing gasoline

Bulgaria, Greece to Consider Greek LNG terminal

Bulgarian state energy holding company BEH and Greek natural gas company Gastrade have set up a joint task force to prepare a proposal to build an off-shore liquefied

News

Royal Caribbean Selects Quintiq Software

Quintiq, a Dassault Systèmes company, announced that Royal Caribbean Cruises Ltd. has selected its software solution to optimize the assignment of more than 80,

Costa Concordia Captain's Sentence Upheld

The prison sentence against the former captain of the Costa Concordia cruise liner for his role in the deadly 2012 shipwreck was upheld on Tuesday by an Italian court.

Partners Target Improved Maritime Efficiency

On May 25, 2016, The University of the West Indies Arthur Lok Jack Graduate School of Business (UWI-ALJGSB) together with the Trinidad and Tobago Shipbuilding &

 
 
Maritime Careers / Shipboard Positions Maritime Contracts Maritime Security Naval Architecture Offshore Oil Pipelines Salvage Ship Simulators Sonar 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: 0.0992 sec (10 req/sec)