Sinopec net profit of 61.76 billion yuan in 2009 - in the petrochemical, oil and chemicals - Plastic

HC plastic mesh : China Oil Chemical industry Co., Ltd. 2009, results released on the 28th, according to International Financial Reporting Standards, 2009 a net profit of 61.76 billion yuan, Sinopec, up 116.5 percent. Domestic oil prices and implementation of tax reform, refining business into the black, is the substantial growth in net profit last year, Sinopec main reason.

Chairman Su Shulin Sinopec, said in 2009, by the International Financial Crisis, market competition is intense, and the challenges encountered in petrochemical production operations. Especially the beginning of petroleum and petrochemical product demand and prices dropped drastically sharp drop in oil field plate efficiency, refining and Sell Increase in business inventories. Facing the severe situation, the company fully explore the market, strengthen the fine management, enhanced structural adjustment, to take a series of measures to cope with, and achieved good results.

In accordance with International Financial Reporting Standards, Sinopec in 2009 a turnover, other operating income and other income of 1.345 trillion yuan, down 10%. Basic net profit of 0.712 yuan per share, a year earlier net profit of 0.329 yuan per share increase compared with 0.383 yuan.

Under Chinese accounting standards, Sinopec net profit of 61.26 billion yuan last year, up 109.0%. Sinopec's board of directors approved the resolution

final dividend of 0.11 yuan per share for the full year dividend per share reached 0.18 yuan.

According to the annual report last year, Sinopec crude oil output 42.42 million tons, natural gas production 8.5 billion cubic meters, respectively, year on year increase of 1.5% and 2.0%. East Gas Transmission Project began trial operation, Matsunami produce 1 billion cubic meters of gas put into production. As crude oil prices dropped sharply over the previous year, exploration and mining operations to achieve operating income 19.6 billion, down 70.5%, but rose oil and gas sales were achieved.

Sinopec crude oil last year, 183 million tons, an increase of 6.7%; produced 113.7 million tons of refined oil, an increase of 5.9%. Refining business to achieve operating income 23100000000 yuan, compared with last year's operating loss 63600000000 yuan, a substantial increase 86700000000 yuan.

Last year, Sinopec Marketing And distribution business to achieve operating income 30.3 billion yuan, down 21.3%. Chemical business achieved operating income 13.6 billion, up 26.6 billion increase.

Sinopec said that with the world Economy Recovery, the international oil market demand will return to growth, the overall level of oil prices in 2010 may be higher than in 2009. China's economic rebound to the good foundation to further strengthen and expand domestic demand and improve the livelihood of policy effects continue to appear, the territory of oil, gas and chemical products demand will grow steadily. However, oil refining, chemical production after another new capacity, market competition remains fierce. Sinopec will strengthen the fine management, and actively adjust the structure, vigorously develop the market, improve economic efficiency, production and management strive to achieve better results.

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