Sinopec reports drop in H1 net profit, operating revenue.

摘要

The Chinese energy major reported a net profit of 19.9B yuan ($2.9B) and operating revenue of 52.5B yuan ($7.8B) in H1 2016, down 21.6% and 25.4%, respectively, from year-ago levels. Sinopec said the continued decline of crude prices in H1 was the main driver in the decrease seen in its net profit and revenue as its oil and gas exploration and development arm reported a loss of 21.9B yuan ($3.3B).