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CHINA PETE & CHEM H SHS (SNPMF) is one of the largest energy corporations globally, operating as a super-large petroleum and petrochemical enterprise group. With a focus on exploration, production, refining, marketing, distribution, and chemicals, the company has achieved significant success in the energy sector. It has reported positive financial results, showcasing growth in various segments such as exploration and production, refining, marketing, and distribution. Additionally, CHINA PETE & CHEM H SHS has been actively involved in capital expenditures to further strengthen its position in the industry.
Sinopec Corp. announced promising interim results for H1 2024. Key highlights include:
- Operating revenue: RMB 1.58 trillion
- Profit attributable to shareholders: RMB 37.079 billion (up 2.6% YoY)
- Basic earnings per share: RMB 0.307 (up 2.0% YoY)
- Interim cash dividend: RMB 0.146 per share
- Oil and gas output: 258 million barrels of oil equivalent (up 3.1% YoY)
- Natural gas production: 700.6 billion cubic feet (up 6.0% YoY)
The Board approved the 'Action of Corporate Value and Return Plan', proposing to distribute cash dividends of not less than 65% of annual profit for the next three years (2024-2026). The company also outlined plans for green development, innovation-driven growth, and business transformation across its upstream, refining, and marketing segments.
Sinopec Corp. announced its unaudited first quarterly results for Q1 2024, with revenue of RMB 789.967 billion and net profit of RMB 18.721 billion. The Company achieved high-quality operating results, with oil and gas production up by 3.4% and natural gas production up by 6.0% year on year. Key segments like exploration and production, refining, marketing and distribution, and chemicals showed positive performance. Sinopec's financial data reflected a strong quarter with EBIT of RMB 14.823 billion in exploration and production, RMB 6.887 billion in refining, RMB 8.678 billion in marketing and distribution, and negative EBIT of RMB -1.609 billion in chemicals. The Company's capital expenditure totaled RMB 20.5 billion, with significant investments in capacity building and project development.
China Petroleum & Chemical Corporation (Sinopec Corp.) announced its Q1 2023 unaudited results, reporting a net profit of RMB 20.740 billion, a year-on-year decrease of 11.87%. The company's operating income rose by 2.59% to RMB 791.331 billion. Oil and gas production reached 124.6 million boe, with natural gas at 330.47 billion cubic feet. The refining segment processed 62.24 million tonnes of crude oil, generating RMB 10.459 billion EBIT. The chemicals segment, however, faced challenges, realizing a RMB -3.022 billion EBIT. Despite a 5.3% increase in gas production, the realized crude oil price dropped by 15.5% to USD 75.21 per barrel.
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