Sinopec’s Full-Year Profit Falls as Fuel Demand Weakens

Sinopec reported a steeper-than-expected decline in profit for 2025 as faltering fuel demand and an over-saturated chemicals market sapped margins.

China’s biggest oil refiner saw full-year net income fall 34% to 32.5 billion yuan ($4.7 billion), according to an exchange filing on Sunday. The company, officially known as China Petroleum & Chemical Corp., recorded a profit of 49 billion yuan in 2024.