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 27th May 2017

Indian textiles ministry promotes wool sector

The ministry of textiles has taken multiple steps to promote the wool ...

Apparel/Garments | On 26th May 2017

Benetton seeks approval for FDI in single-brand retail

Global fashion brand Benetton Group, has sought Indian government's...

Textiles | On 26th May 2017

Lenzing unleashes new eco-friendly fibre

There's a new eco-friendly fibre on the anvil—Austrian speciality...

Interviews View All

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Siddharth Biyani
Mangalam Industries Pvt Ltd

‘The manufacturing sector is improving day-by-day, becoming better in...

Dharmendra Shah
Ozone PB Spintex Limited

‘We have made huge investments to ensure quality yarn production.’

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Giorgio Mantovani
Corman S.p.A

Giorgio Mantovani, MD of Corman, with a presence in both Milano and New...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Rupa Sood and Sharan Apparao
Nayaab

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

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Sanjukta Dutta
Sanjukta's Studio

<b>Sanjukta Dutta</b> creates unique garments by clubbing prints of...

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

news category


Related Categories:
May 2017

May 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search