Sinopec’s chemicals segment swings to loss in frst quarter

摘要

Sinopec’s chemicals segment reports an operating loss of 1.34 billion ren- minbi ($215 million) in the frst quarter of 2014, compared with an oper- ating proft of Rmb164 million in the frst quarter of 2013. First-quarter sales for the chemicals segment decreased 1.9%, to Rmb103.1 billion. The business environment for the chemicals segment was challenging during the frst quarter of 2014 because of the high and volatile feedstock prices and declining product prices, Sinopec says.