BEIJING/SINGAPORE: Top Asian oil refiner Sinopec Corp swung to a record quarterly profit in July-September, thanks to a jump in refining margins and earnings from the spin-off of pipeline assets, the company said.
The firm's third-quarter net income nearly quadrupled from a year ago to 46.39 billion yuan ($6.92 billion), Sinopec said, after reporting losses in the first half of this year.
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