Sinopec, PetroChina post modest sales rise

摘要

Singapore—China’s state-owned oil giants Sinopec and PetroChina reported modest growth in refined product sales in the first half of the year, underscoring the softness in China’s oil demand, because of slowing economic growth, and presented a cautious outlook for the rest of the year as supply outpace demand. Sinopec and PetroChina together account for about 90% of the domestic refined product markets.