Shanghai Petrochemical Posts US$181- Million Net Loss for 1H 2012

摘要

Sinopec Shanghai Petrochemical August 27 that it suffered an RMB1.15-billion (US$181-million) loss in first half (1H) 2012, compared with an RMB1.42-billion (US$223- million) profit in 1H 2011. Commenting on the results, Shanghai Petrochemical chairman Rong Guangdao said: “In the first half of 2012, the economic growth in China decelerated. With respect to the petroleum and chemical industry, production growth slowed down; demand from the industry was sluggish; market prices fell; and government regulated the price of refined oil.