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Higher Oil Prices Lift Sinopec Profit 28% in First Quarter
Net income reached 17 billion yuan as higher crude prices lifted inventory values and refined product margins, Sinopec said.
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3 Articles
3 Articles
Higher Oil Prices Lift Sinopec Profit 28% in First Quarter
China’s top refiner posted a strong first quarter as higher crude prices lifted inventory values and stable domestic fuel sales helped to offset pressure from disrupted Middle East supply. China Petroleum & Chemical Corporation (Sinopec) reported first-quarter net income of 17 billion yuan ($2.49 billion), up 28% from a year earlier, according to a Shanghai exchange filing. The results land as major oil companies begin showing how the Iran-drive…
·London, United Kingdom
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China's largest offshore oil and gas producer is the first of three state-owned giants to show results that captured the impact of the US-Israeli war with Iran.
·Brazil
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Total News Sources3
Leaning Left0Leaning Right1Center2Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
C 67%
R 33%
Factuality
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