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Sinopec’s Chemicals Segment Reports Rise in Profits and Sales

1:15 AM MDT | August 30, 2011 | Deepti Ramesh

Sinopec’s chemicals segment reported a 36.7% increase in revenues for the first half of 2011, to Rmb209.4 billion ($32.8 billion), compared with the year-ago period, and operating profits for the segment nearly doubled, to Rmb16.34 billion. Second-quarter figures were not disclosed. Output of ethylene rose 19%, to 5.01 million m.t. in the first six months and total sales of chemical products increased 6%, to 25.1 million m.t. Sinopec’s production of synthetic resins increased 12.3% in the first half of 2011 compared with the year-ago period, to 6.8...

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