Chinese refiner Sinopec 1H profit up 12%

  • Business Premium
  • Monday, 29 Aug 2011

SHANGHAI: Sinopec, Asia's largest refiner by capacity, said first-half profit rose 12 percent as higher oil, gas and chemicals revenues helped offset a loss in its refining business.

The company, also known as China Petroleum & Chemical Corp., said Sunday that its net profit in January-June was 41.2 billion yuan ($6.4 billion), or 0.475 yuan (7 U.S. cents) per share, based on international financial reporting standards.

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