China state-owned oil giant Sinopec (China Petroleum & Chemical Corp), the world’s biggest oil refiner by capacity, posted record first-half profits as higher global oil and gas prices outweighed a mixed market for fuel in China. China’s oil demand fell to near a two-year low in July. The result follows strong first-half results came after fellow state-owned oil giants PetroChina Co. and Cnooc Ltd. profits. Sinopec is state owned by the Chinese Government Big oil rivals also delivered record profits. Saudi … Continue reading “Sinopec Profit Soars to Record Despite China Oil Demand Near Two Low”
PetroChina Profit Soars to Record Despite Fuel Sales Down 11.1% in China
China state-owned oil giant PetroChina posted record first-half profits as higher global oil and gas prices outweighed Crude oil throughput down 1.4% and fuel sales down 11.1% in China. China’s oil demand fell to near a two-year low in July. The result follows strong first-half results came after fellow state-owned oil giant Cnooc Ltd. profits. Sinopec is state owned by the Chinese Government Big oil rivals also delivered record profits. Saudi Aramco Oil, The UK’s BP, Netherland’s Shell, America’s ExxonMobil, the largest … Continue reading “PetroChina Profit Soars to Record Despite Fuel Sales Down 11.1% in China”