Arab Today, arab today sinopec posts 30 decline in net profit
Last Updated : GMT 21:09:51
Arab Today, arab today
Arab Today, arab today

Sinopec posts 30% decline in net profit

Arab Today, arab today

Arab Today, arab today Sinopec posts 30% decline in net profit

Hong Kong - Arabstoday

Massive losses at its refining arm offset upstream gains. China Petroleum and Chemical Corp, the country's second largest integrated oil company, posted a 30 per cent fall in fourth-quarter net profit, missing forecasts, as massive losses at its refining arm offset upstream gains. The fourth-quarter earnings of Asia's largest refiner, also known as Sinopec, totalled 10.3 billion yuan (Dh5.9 billion), compared with a forecast of 15.21 billion yuan, according to Reuters calculations. The company's full-year net profit rose 1.4 per cent to 71.7 billion yuan from 70.7 billion yuan in 2010. That lagged a consensus forecast of 76.6 billion yuan from 32 analysts polled by Thomson Reuters I/B/E/S. Sinopec suffered heavy refining losses last year as increases in domestic prices for oil products failed to keep pace with stronger rises in international crude prices. Pricing formula China's fuel price hikes often come smaller and later than required under its pricing formula due to inflation concerns, leaving refiners saddled with mounting losses. Chinese oil firms make a profit on oil and gas production, fuel sales and chemical businesses. From: Gulfnews

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sinopec posts 30 decline in net profit Arab Today, arab today sinopec posts 30 decline in net profit

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today sinopec posts 30 decline in net profit Arab Today, arab today sinopec posts 30 decline in net profit

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الشركات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday