Sinopec shares fell 38 percent in January-June, versus PetroChina's 27 percent fall and CNOOC's 1 percent gain. The benchmark Hang Seng Index .HSI fell 21 percent.
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Sinopec Reported 77% Fall in Earnings
China's Sinopec Corp, the Asian biggest oil refiner posted a 77%
China's Sinopec Corp, the Asian biggest oil refiner posted a 77% fall in first-half earnings as soaring crude prices and caps on state-set fuel prices pushed its refining business into the red, despite government subsidies.
Sinopec reported a net profit of 8.26 billion yuan ($1.2 billion) in January-June, versus a slightly revised profit of 36.4 billion yuan a year earlier.
The result beat a consensus forecast of 6.92 billion yuan from six analysts polled by Reuters.
Sinopec shares fell 38 percent in January-June, versus PetroChina's 27 percent fall and CNOOC's 1 percent gain. The benchmark Hang Seng Index .HSI fell 21 percent.
Sinopec shares fell 38 percent in January-June, versus PetroChina's 27 percent fall and CNOOC's 1 percent gain. The benchmark Hang Seng Index .HSI fell 21 percent.
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