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Chemical Week Magazine :: Business & Finance :: Asia/Pacific
Sinopec, PetroChina chemical units report lower earnings
6:28 AM MDT | April 4, 2014 | —Deepti Ramesh
The chemical businesses of Sinopec and PetroChina report weak financial results for 2013. Operating profits for Sinopec’s chemicals segment decreased 26.3% in 2013 compared with 2012, to 868 million renminbi ($140 million), mainly because of a fall in prices of chemical products, Sinopec says. Sinopec’s chemicals segment reported a 6.2% increase in revenues in 2013 compared with 2012, to Rmb437.6 billion. Sales volume of chemical products grew by 7.6% in 2013 compared with 2012, but prices of chemical products dropped by 1.1%, Sinopec says...
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