Здравствуйте. Вся информация этого сайта бесплатна без рекламы. Вы можете сделать пожертвование и поддержать развитие этого сайта. Спасибо.

Hello. This site is free without ads. You can make a donation and support the development of this site. Thank you.

2016-08-31 18:35:00

SINOPEC NET PROFIT DOWN 21.6%

SINOPEC NET PROFIT DOWN 21.6%

NGW wrote, China Petroleum and Chemical Corporation (Sinopec) has reported a 21.6% drop in net profit for the six months that ended on June 30 as international oil and natural gas prices remained low.

For the first six months of 2016, company's net profit was yuan 19.9bn ($2.98bn), down from yuan 25.4bn a year earlier. Sinopec's total turnover was yuan 879.22bn, 15.6% down year-on-year, it said August 28. In the first half of 2016, the operating profit was yuan 35.1bn , down 13.3% on the previous year. Sinopec's results were only a tad better than those of two other Chinese state owned energy firms PetroChina and Cnooc who respectively reported a 98% decline in half-year profit; and its first H1 loss in more than a decade.

Production in the first half of 2016 was 218.99mn barrels of oil equivalent. Domestic crude production was 128.38mn barrels while overseas production was 25.79mn barrels, and total gas production was 388.69bn ft³.

Fuling shale gas field development

Sinopec said it will press ahead with development of Fuling shale gas field in the second half of the year as well as speed up key capacity building projects, optimise production and sales, and intensify reservoir assessment in west Sichuan and northeast China.

In the second half of 2016, it plans to produce 147mn barrels of crude oil, of which domestic production will account for 125mn barrels and overseas production will account for 22mn barrels. Natural gas production is expected to be 421.2bn ft³ during the period.

The company expects oversupply conditions in global oil market to continue in the second half of the year. "China's economic growth is expected to be steady in the second half of 2016, which will drive the growth of domestic demand for refined oil products and petrochemical products. The consumption mix of oil products shall continue to change, and demand for chemical products shall be gradually going for more high-end products. Yet over-supply in the international oil market is likely to persist, and international oil prices will stay at a low level," it said.

-----

Earlier: 

CHINA'S GAS FUTURE 

CHINA'S FUEL EXPORTS UP 

SAUDI FIND CHINA 

REPSOL VS SINOPEC: $5.5 BLN 

CHINA INCREASES EFFICIENCY

 

 

 

 

Tags: SINOPEC, CHINA

Chronicle:

SINOPEC NET PROFIT DOWN 21.6%
November, 24, 09:15:00

SAUDI'S OIL FOR CHINA

BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.

SINOPEC NET PROFIT DOWN 21.6%
November, 24, 09:10:00

URALS QUALITY WILL DOWN

PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.

SINOPEC NET PROFIT DOWN 21.6%
November, 24, 09:05:00

S.KOREA'S SOLAR UP

FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn. 

SINOPEC NET PROFIT DOWN 21.6%
November, 24, 09:00:00

U.S. RIGS UP 8 TO 923

U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.

All Publications »
Exchange Rates
Date: 00:00 00:00
USD 0.00 0.00
EUR 0.00 0.00
GBP 0.00 0.00
UAH 0.00 0.00
ADR bid ask
GAZPROM 0.000.00
LUKOIL 0.00 0.00
ROSNEFT 0.00 0.00
SURGUTNEFTEGAZ 0.000.00
TATNEFT0.00 0.00