Foreign media: Sinopec's net profit fell 36.8% to 31.8 billion yuan (about 4.62 billion U.S. dollars) in 2025, mainly due to the acceleration of new energy substitution and weak profit margins for petrochemical products.
As the world's largest refiner, its refining volume decreased by 0.8% to 250.33 million tons, with gasoline and diesel sales declining by 2.5% and 9.1% respectively, with prices falling by 7.7% and 8% year-on-year. Although jet fuel sales increased by 4%, the average price dropped sharply by 9.9%. The company's domestic crude oil production increased slightly by 0.7% to 255.75 million barrels, and natural gas production grew by 4% to 145.66 billion cubic feet, while ethylene production surged by 13.5% to 15.28 million tons. Capital expenditure in 2025 was 147.2 billion yuan, and in 2026 it is planned to maintain between 131.6 billion and 148.6 billion yuan, focusing on oil and gas exploration and development.
Sinopec's H-shares rose 0.21% this year, underperforming the Hang Seng Index, and far behind the 17.58% and 42.63% gains of CNPC and CNOOC during the same period.
Original article: toutiao.com/article/1860372320866313/
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