Sinopec third quarter, nine month profits slump on drop in margins at Chinese refiner

摘要

Hong Kong—Chinese state-controlled integrated oil group China Petroleum and Chemical Corporation (Sinopec Corporation) announced October 29 a 39.1% fall in net profit to Yuan 8.17 billion (1.2 billion) for the third quarter, as refining margins at Asia’s largest refiner took a hit with international crude oil prices soaring to a record high during the period.