Sinopec earns more
By Richard Fu |
March 28, 2011, Monday
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Print Edition
Print Edition
SINOPEC Corp, Asia's largest oil refiner, said yesterday its net profit rose 13.7 percent to 71.8 billion yuan (US$11 billion) last year under international accounting standards. Turnover surged 42 percent to 1.9 trillion yuan.
But earnings growth was dwarfed by CNOOC and PetroChina because its refining business is subject to government fuel price control. Profit at CNOOC and PetroChina in 2010 grew 85 percent and 35 percent.
But earnings growth was dwarfed by CNOOC and PetroChina because its refining business is subject to government fuel price control. Profit at CNOOC and PetroChina in 2010 grew 85 percent and 35 percent.
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