Sinopec Q1 chemicals post profit of $1.34bn on higher ethylene output

摘要

LONDON (ICIS)--Sinopec generated a profit of Chinese yuan (CNY) 8.452bn ($1.335bn) from its chemicals segment in the first quarter of 2018, the state-controlled refiner and chemicals producer said on Thursday. Sinopec said that domestic demand for ethylene kept growing in the quarter with ethylene equivalent demand up 3.3% The company’s ethylene production was up 1.8% year on year at 3m tonnes. Chemical sales volumes were 10.0% higher at 20.5m tonnes, it added.