Sinopec’s Chemicals Segment Reports Rise in Profits and Sales

Sinopec’s chemicals segment reported a 28.3% increase in revenues for 2011 compared with 2010, to Rmb420.5 billion ($66.7 billion). Operating profits for the segment increased 78%, to Rmb26.7 billion. Fourth-quarter figures were not disclosed. The company’s ethylene output rose 9.2%, to 9.89 million m.t. in 2011. The company sold 50.8 million m.t. of chemical products in 2011, compared with 43.5 million m.t. in 2010. Sinopec’s production of synthetic resins increased 5.4% in 2011 compared with 2010, to 13.6 million m.t; production of synthetic...

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