Popular Posts Last 7 days_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts Last 30 days_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts Last year_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Popular Posts All time_$type=three$meta=0$snip=0$rm=0$count=9$show=/search/label/Popular

Islamophobia_$type=carousel$h=350$show=/search/label/Muslim%20World

Saudi Arabia$type=two$count=2$h=250$space=1$icon=1$m=0$sn=0$rm=0$show=/search/label/Muslim%20World

Iran_$type=three$count=3$h=250$space=1$icon=1$m=0$sn=0$rm=0$show=/search/label/Muslim%20World

Palestine$type=three$author=hide$comment=hide$rm=hide$date=hide$show=/search/label/Muslim%20World

Oil prices lift profit at China's Sinopec by 40%

SHARE:

SHANGHAI -  Asia's biggest oil refiner Sinopec said its first-half net profit jumped more than 40.1 percent thanks to a rise in oil prices and stable growth in China's economy, which fuelled demand for its refined products.

Sinopec ?- the listed unit of state-owned China Petrochemical Corp. ?- saw net profit surge to 27.92 billion yuan ($4.2 billion) in the January-June period, up from 19.92 billion yuan in the year-earlier period, it said in a statement late Sunday to the Hong Kong stock exchange, where it is listed.

A pick-up in international oil prices boosted Sinopec's crude business, while domestic consumption of its key refined oil products rose and demand for major chemical products grew "significantly", it said.


China registered stronger-than-expected economic growth in the first half, expanding 6.9 percent in both the first and second quarters.

World oil prices have firmed up but remain half of what they were before a 2014 plunge fuelled by a supply glut, overproduction and a weak global economy.

Sinopec said strong economic growth will continue to drive demand for its products in the second half and create new growth opportunities.

Investors in Hong Kong seemed to ignore the figures, with shares in the firm falling 2.22 percent, having climbed over the past week in advance of the earnings announcement.

But its shares in Shanghai, where it also is listed, gained 0.83 percent.

Last week, Chinese oil giant PetroChina said its net profit skyrocketed more than 2,000 percent in the first half and announced it would give the entire windfall to shareholders via a cash dividend.

COMMENTS

Name

Ads,5,Afghanistan,75,Africa,26,Americas,5,Animals,36,Argentina,1,Asia,235,Australia,11,Austria,5,Bahrain,2,Bangladesh,18,Barcelona,1,Belgium,3,Brunei,1,Business,1300,Canada,4,Catalan,80,China,118,Cuba,3,Czech Republic,3,DR Congo,1,Egypt,22,Ethiopia,1,Europe,237,Fitness,14,France,26,Germany,37,Headlines,11,Health,169,Hillary Clinton,199,Hong Kong,2,Hungary,1,Iceland,1,India,104,Indonesia,9,International,75,Iran,77,Iraq,77,Ireland,2,Islamophobia,19,Israel,10,Italy,3,Japan,36,Jordan,1,Kenya,7,Kosovo,1,Kuwait,3,Lebanon,2,Libya,2,Lifestyle,302,Lithuania,1,Malawi,1,Malaysia,15,Malta,1,Maxico,3,Middle East,127,Muslim World,598,Myanmar,35,Nawaz Sharif,5,Nepal,3,Netherlands,2,New Zealand,9,Niger,1,Nigeria,2,Nobel Prize,81,North Korea,53,Norway,1,Opinion,26,Pakistan,1036,Palestine,36,Philippine,16,Pics,66,Poland,3,Popular,1,Qatar,93,Rohingya,118,Russia,45,Rwanda,1,Saudi Arabia,83,Science,144,Serbia,2,Showbiz,350,Somalia,4,South Africa,1,South Korea,7,Spain,60,Sports,1311,Sudan,1,Sweden,1,Switzerland,2,Syria,112,Taiwan,2,Technology,449,Thailand,5,Today IN History,24,Top News,994,Tunisia,1,Turkey,77,U.S.,301,UAE,21,UK,51,Ukrain,2,Venezuela,4,Videos,75,Vietnam,2,World,4824,Yemen,21,Zimbabwe,2,
ltr
item
Muslim Global: Oil prices lift profit at China's Sinopec by 40%
Oil prices lift profit at China's Sinopec by 40%
https://2.bp.blogspot.com/-tIdO7wG3wlk/WaOVNdrpyNI/AAAAAAAAdnE/Wihoe9GLf74OOduw87Hbbl4nRAXkNf9_wCLcBGAs/s640/Asia%2527s%2Bbiggest%2Boil%2Brefiner%2BSinopec.jpg
https://2.bp.blogspot.com/-tIdO7wG3wlk/WaOVNdrpyNI/AAAAAAAAdnE/Wihoe9GLf74OOduw87Hbbl4nRAXkNf9_wCLcBGAs/s72-c/Asia%2527s%2Bbiggest%2Boil%2Brefiner%2BSinopec.jpg
Muslim Global
http://www.muslimglobal.com/2017/08/oil-prices-lift-profit-at-chinas.html
http://www.muslimglobal.com/
http://www.muslimglobal.com/
http://www.muslimglobal.com/2017/08/oil-prices-lift-profit-at-chinas.html
true
616431133175714168
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS CONTENT IS PREMIUM Please share to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy