HONG KONG: China Petroleum & Chemical Corp, the world’s biggest oil refiner, posted a 22% decline in profit for the first half of the year as oil’s collapse overpowered the boost from cheaper crude used to make fuels and chemicals.
Net income dropped to 19.9 billion yuan (US$3bil), the Beijing-based company known as Sinopec said in a statement to the Shanghai stock exchange yesterday.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
