Sinopec’s first quarter profit surges by 40%

摘要

Hong Kong—China Petroleum & Chemical Corporation, or Sinopec Corporation, April 28 reported a 39.93% rise in profits in first-quarter 2010 to Yuan 15.79 billion ($2.31 billion). Thanks to higher crude, oil products and petrochemicals prices and increased sales volumes during the quarter, the state-controlled integrated oil company’s turnover and other operating revenues rose 92.62% during the comparison periods to Yuan 438.209 billion ($64.2 billion), based on international accounting standards.