Sinopec Reports Big Sales and Profit Hikes

Sinopec’s chemical business posted a 21% increase in 2006 operating profits, to Rmb17.2 billion ($2.2 billion), on sales up 28%, to Rmb228.1 billion. “Petrochemical product prices remained at a high level,” Sinopec says. Fourth-quarter figures were not disclosed. The company’s ethylene output increased 16%, to 6.2 million m.t. in 2006, including 100% of output at the company’s joint ventures with BASF and BP. Sinopec says it is the fourth-biggest producer of...

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