Sinopec reports Q1 FY19 revenues of RMB 555.5 billion

Sinopec, a  petroleum and petrochemical enterprise group, posted 22.6 per cent decrease in its turnover and other operating revenues to RMB 555.5 billion in first quarter (Q1) FY20 ended on March 31, 2020 compared to RMB 717.5 billion in same period prior year. EBIT (earnings before interest and taxes) reported loss of RMB 25.8 billion.

 

Sinopec, a petroleum and petrochemical enterprise group, posted 22.6 per cent decrease in its turnover and other operating revenues to RMB 555.5 billion in first quarter (Q1) FY20 ended on March 31, 2020 compared to RMB 717.5 billion in same period prior year. EBIT (earnings before interest and taxes) reported loss of RMB 25.8 billion. #

The group reported that the total capital expenditure during the quarter was RMB 13.2 billion. E&P reported capital expenditure of RMB 6.1 billion, Refining RMB 2.4 billion and Chemicals RMB 2.1 billion. 

 

Sinopec, a petroleum and petrochemical enterprise group, posted 22.6 per cent decrease in its turnover and other operating revenues to RMB 555.5 billion in first quarter (Q1) FY20 ended on March 31, 2020 compared to RMB 717.5 billion in same period prior year. EBIT (earnings before interest and taxes) reported loss of RMB 25.8 billion. #

Operating results of ethylene production decreased 0.8 per cent to 3.0 million tonnes. Synthetic resin production grew 2.8 per cent to 4.2 million tonnes. Synthetic rubber production fell 5.5 per cent to  0.2 million tonnes. Synthetic fibre monomers & polymers production declined 9.4 per cent to 2.3 million tonnes. Synthetic fibre production was down 17.4 per cent to 0.2 million tonnes.