Sinopec's ethylene output up in H1, to generate 2.75mn in H2
29 Aug '05
4 min read
The production of major chemical products experienced growth, but at varied paces. The production volume of ethylene reached 2.434 million tons, an increase of 16.96% over the same period last year, while the production of other major chemical products, such as synthetic resin, synthetic rubber and monomers and polymers for synthetic fiber, also increased. The Company actively pursued the reform of its chemical marketing systems and on 10 May 2005, a chemical sales subsidiary was established. This is a critical adjustment that allows the Company to establish and develop a unified chemical product marketing network to build a unified image, improve market competitiveness, and maximize overall efficiency. Thanks to the continuous optimization of the Company's asset structure over the past few years, the chemical segment realized an operating profit of RMB10.82 billion (US$1.31 billion), an 80.10% increase over the same period last year.
Sinopec Corp is the first Chinese company that has been listed in Hong Kong, New York, London and Shanghai. The Company is an integrated energy and chemical company with upstream, midstream and downstream operations.
The principal operations of Sinopec Corp and its subsidiaries include: exploring, developing, producing and trading crude oil and natural gas; processing crude oil into refined oil products; producing, trading, transporting, distributing and marketing refined oil products; and producing and distributing chemical products. Based on 2004 turnover, Sinopec Corp. is the largest listed company in China.
Beijing based this company is one of the largest crude oil and petrochemical companies in China and Asia. It is also one of the largest gasoline, diesel and jet fuel and other major chemical products producers and distributors in China and Asia.
marketing@alchempro.com
