Soaring crude prices erode Sinopec profits

Energy

Friday, September 05, 2008 23:45:16

	Soaring crude prices erode Sinopec profits By STAFF EDITOR Published: March 14, 2008 12:00 PM Sinopec, Asia’s top oil refiner, posted just US$140.83 million (RMB1 billion) in profits in January due to the growing gap between the price of crude oil on the global market and government-fixed domestic prices for oil products, the China Securities Journal reported. The company made six times the profit for the corresponding month in 2006 and ... You are currently reading 58 words of 178 total words in this article. To continue reading this article, you must be a subscriber. Log in now. Buy this article now for $10 USD. Not a subscriber? Start your 7-day free trial now. bookmark \| digg \| Permalink \| Tell a Friend Tags for this article: China Securities Journal , tax , sinopec , oil	More Articles in Energy > Today’s Daily Briefs E-Mail Sign up for a roundup of the day’s top stories, sent every day. RELATED ARTICLES > China coke exports down, value up PetroChina to cut 80,000 jobs over 3 years Guangdong crude exports bounce back strongly through April “Indirect" crude import tax cuts rumored Sinopec allowed to build nation’s No 1 refinery Quota for refined oil imports raised China depends on imports for 50% of oil needs: Researcher

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