Sinopec’s Chemicals Segment Reports Rise in Profits, Sales

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

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