Home / Knowledge / News / Textiles / 'We will stage comeback in 2009' – Mr Shulin, Sinopec Corp
'We will stage comeback in 2009' – Mr Shulin, Sinopec Corp
01
Jan '09
Mr Shulin, Chairman, Sinopec Corp
Mr Shulin, Chairman, Sinopec Corp
Sinopec Corporation the state owned refining major expects to stage a comeback in 2009 after having posted losses in the last few years, Mr Shulin, Chairman of the company said at a board meeting.

He also anticipates refining to be the main area to generate profits for the company. Infact 2008 has been a watershed year of the company as crude oil prices touched the nadir while on the other hand adequate returns could not be generated due to controlled prices of petroleum fuel.

With the drop in crude prices in the last few months of 2008 and having reached four year lows, Sinopec expects to deliver better results in 2009. Sinopec along with having a big refining capacity also has large capacities in production of petrochemicals.

But along with crashing of crude oil prices, the petrochemical prices have also taken a hit; thereby increasing the woes of the refining company. The company plans to increase its oil and gas exploration activities in the eastern part of China.

The company will strive to keep its market share in refining and fuel sales, but also strive to raise its share of the high margin jet fuel business. Sinopec is China's second largest oil and gas producer after PetroChina.

Fibre2fashion News Desk - India

Must ReadView All

Textiles | On 20th Jan 2017

TEA expects budget to upscale textile skill industry

The Tiruppur Exporters’ Association (TEA) has requested the Central...

Textiles | On 20th Jan 2017

Bangladesh could earn $60 billion in exports by 2021

Bangladesh is expected to earn over $60 billion in exports by the...

Courtesy: PIB

Textiles | On 20th Jan 2017

Govt to help Tangaliya weavers purchase looms: Irani

Government of India will facilitate Tangaliya weavers in purchase of...

Interviews View All

Angelina Francesca Cheang
MY ANJE

'Consumers in the age-group 21 to 38 are driving the activewear trend'

Rashi Menda
Zapyle

Every fifth sale we make on Zapyle is a repeat purchase

Viral Desai
Zenitex Mill Pvt Ltd

Full of green energy

Ashok Desai
Bombay Textile Research Association

Bombay Textile Research Association (BTRA) is a leading name in textile...

Kevin Nelson
TissueGen

Kevin Nelson, Chief Scientific Officer, TissueGen discusses the growing...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
January 2017

January 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


eNEWS
Insights
Subscribe today and get the latest News update in your mail box.
Advanced Search