Bloomberg Anywhere Remote Login Bloomberg Terminal Demo Request


Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.


Financial Products

Enterprise Products


Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000


Industry Products

Media Services

Follow Us

Bloomberg Customers

Sinopec Group Profit Rises 11% in 2011 as Production Increases

China Petrochemical Corp., Asia’s biggest refiner, said profit in 2011 rose 11 percent after production of crude oil and natural gas increased.

Net income last year was 79.9 billion yuan ($12.7 billion), Chairman Fu Chengyu said at a company event in Beijing today, without giving year-earlier figures. Revenue rose 30 percent to 2.55 trillion yuan, he said.

Natural gas production gained 17 percent to 14.6 billion cubic meters, while crude oil output climbed 7.6 percent to 65.6 million metric tons, the chairman said. The company refined 219 million tons of crude last year, an increase of 2.7 percent, he said.

Sinopec Group, the parent of Hong Kong and Shanghai-listed China Petroleum & Chemical Corp., has suffered losses in refining as the Chinese government capped retail fuel prices to curb inflation. The state-owned company plans to produce 50 million tons of crude overseas annually by 2015 to compensate for losses from refining.

The company pumped 22.88 million tons of crude at overseas fields last year, Sinopec Group said in a report on Jan. 6.

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.