Sinopec ethylene output up 15.9% in 2006

10 Apr '07

3 min read

“In 2006, we increased both our reserves and production of crude oil and natural gas, with crude oil production exceeding 40 million tonnes for the year. As of December 31, 2006, our refining capacity was the third largest in the world, and our ethylene production capacity was the fourth largest."

"In our downstream segment, we further improved our sales network for gasoline and diesel products, and with approximately 28,000 service stations as of December 31, 2006, we have the third largest network of gasoline and diesel retail stations in the world."

"Overall, the Company's competitive advantages as an integrated energy and chemical company have been further enhanced. In 2006, our turnover and other operating revenues surpassed RMB 1 trillion for the first time and our Return on Capital Employed (ROCE) exceeded 13%.”

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On the same day, Sinopec Corp. made an announcement on profit projection for the first quarter of 2007. In accordance with PRC Accounting Rules and Regulations, the Company's consolidated net profit for 1Q 2007 continued its momentum by recording an increase of more than 50 % compared to the same period in 2006.

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