日韩午夜精品视频,欧美私密网站,国产一区二区三区四区,国产主播一区二区三区四区

Home / Business / Energy Tools: Save | Print | E-mail | Most Read | Comment
Sinopec sees limited benefits from recent oil price declines
Adjust font size:

Sinopec, the listed refining unit of the China Petroleum and Chemical Corp, hasn't really benefited from recent declines in global crude oil prices, because its refining costs still far exceed domestic oil product prices, company officials said on Thursday.

China caps refined oil product prices at relatively low levels by world standards.

The officials said that although lower world prices would reduce import costs, global crude prices were still about $130 per barrel, well above the break-even point of $80 for Asia's largest oil refiner.

Sinopec imports about 80 percent of the crude it refines.

Earlier reports said Sinopec and another leading company, Petrochina, the two leading oil companies, recorded a combined refining loss of 5.71 billion yuan ($827 million) in the first half as soaring world crude prices raised their production costs, which were up 47.9 percent year-on-year.

China's oil companies have been losing money for each barrel of imported oil they refined and sold domestically, since they can't pass on higher costs under the government-set refined oil prices.

The government raised the benchmark gasoline and diesel oil retail prices to 6,980 yuan and 6,520 yuan per tonne in June, up more than 16 percent and 18 percent, respectively.

The increases had helped reduce refining losses, said Sinopec. It said last week that its first-half net profit would decline by more than 50 percent because of the widening gap between the government-set prices of oil products and rocketing global crude prices.

(Xinhua News Agency July 25, 2008)

Tools: Save | Print | E-mail | Most Read
Comment
Pet Name
Anonymous
China Archives
Related >>
- Sinopec expects net profit to fall 50% in first half year
- Sinopec finds reserves
- Sinopec to see bigger losses: analysts
Most Viewed >>
- Gov't unmoved by slow exports
- Grain becomes main smuggled goods
- Richer nations 'must act'
- Fees to escalate on gas-guzzlers
- Economy may dip to 9.9%
- Output of Major Industrial Products
- Investment by Various Sectors
- Foreign Direct Investment by Country or Region
- National Price Index
- Value of Major Commodity Import
- Money Supply
- Exchange Rate and Foreign Exchange Reserve
- What does the China-Pakistan Free Trade Agreement cover?
- How to Set up a Foreign Capital Enterprise in China?
- How Does the VAT Works in China?
- How Much RMB or Foreign Currency Can Be Physically Carried Out of or Into China?
- What Is the Electrical Fitting in China?
主站蜘蛛池模板: 汝阳县| 武陟县| 永清县| 昆明市| 伽师县| 大城县| 弥渡县| 崇文区| 瑞安市| 瑞丽市| 广南县| 体育| 甘洛县| 西畴县| 隆德县| 夏河县| 斗六市| 古浪县| 庆云县| 武强县| 壤塘县| 文登市| 巴林右旗| 北宁市| 措勤县| 宣城市| 个旧市| 兴安盟| 咸丰县| 蒲城县| 和田县| 历史| 马尔康县| 靖远县| 广水市| 荣成市| 徐汇区| 大安市| 新闻| 花莲市| 渝中区|