Sinopec Reports 28% Jump in First-Quarter Profit
businesscompany-earningsenergy-markets 2 posts · 2 accounts
Sinopec reported a 28% increase in first-quarter profit to $2.49 billion, supported by higher oil prices and stable fuel sales.
Higher crude prices lifted inventory values and upstream earnings, helping offset weaker refining margins and supply disruptions in the Middle East.
From the sources (2 posts)
@oilandenergySinopec posted a 28% jump in Q1 profit to $2.49B as higher crude prices boosted inventory values, offsetting weaker refining margins and disrupted Middle East supply. Upstream gains helped drive earnings. #Oil #China #EnergyMarkets https:
@reuterscommodsSinopec first-quarter net income up 28% on higher oil prices, stable fuel sales