China's Sinopec reports 16.74 pct rise in refining in H1
BEIJING, Jul 20, 2010 (Xinhua via COMTEX) --
Copyright 2010 XINHUA NEWS AGENCY
China Petroleum and Chemical Corp.
(Sinopec), the nation's largest oil refiner, said Tuesday that it
processed 101.45 million tonnes of crude oil in the first half of
2010, up 16.74 percent year on year due to strong growth of the
Chinese economy.
The company, also a leading oil producer, said in a preliminary
report that its natural gas output rose strongly by 40.73 percent
from the same period last year to 200.56 billion cubic meters
despite crude oil output only rising 0.05 percent to 149.19
million barrels.
Sinopec saw diesel output rise by 13.33 percent to 36.72
million tonnes in the first half from a year earlier, while
kerosene was up 29.96 percent, the company said.
Strong domestic economic growth in the first half had
contributed to the increases in its rising output.
China's gross domestic product (GDP) grew 11.1 percent year on
year in the first half, according to the National Bureau of
Statistics.
Gasoline output rose by 4.59 percent year on year in the first
half,said the company.
Ethylene went up by 41.34 percent, synthetic resins by 28.51
percent, synthetic fibers by 7.47 percent and synthetic rubbers by
18.58 percent.
Domestic sales of refined oil products rose sharply by 18.09
percent year on year to 68.15 million tonnes in the first half.
Sinopec reported its net profit in the first quarter rose 39.93
percent year on year to 15.785 billion yuan (about 2.3 billion
U.S. dollars).
Listed in Hong Kong, New York, London and Shanghai, Sinopec is
the listed subsidiary of China Petrochemical Corporation (Sinopec
Group).
The company share price in the mainland A-share market gained
3.58 percent to 8.38 yuan on Tuesday and climbed 0.832 percent in
the Hong Kong market to 6.06 Hong Kong dollars.
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