Sinopec and PetroChina Chemical Units Swing to Loss

The chemical businesses of Sinopec and PetroChina reported weak financial results for the first half of 2012. Sinopec’s chemicals segment reported an operating loss of Rmb1.3 billion ($205 million) in the first half, compared with an operating profit of Rmb16.34 billion in the year-ago period, on sales down 4.1%, to Rmb200.8 billion. Sinopec cites the “depressed chemicals market and drastic fall in prices of major chemical products.” PetroChina’s refining and chemicals business segment recorded an operating loss of Rmb28.87 billion in the...

This information is only available to Chemical Week subscribers.

Forgot your user ID or password?
Click here to have it sent to you.

Email Address First Name Last Name

Not an IHS Chemical Week 24/7 member yet? Here's why you should be: Searchable online archive access of the last 2 years of Chemical Week. Print or digital magazine subscription Price and market change alerts Economic data and statistics Buyers' Guides Webcasts | whitepapers