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China Pete & Chem Corp (SNPMF) operates as a global leader in integrated petroleum and petrochemical solutions. This news hub provides investors and industry professionals with direct access to all official corporate announcements, financial disclosures, and operational updates.
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Sinopec Corp. has announced its FY2024 results, reporting revenue of RMB 3.07 trillion and profit attributable to shareholders of RMB 48.939 billion. The company achieved basic earnings per share of RMB 0.404 (IFRS) and net cash flow from operating activities of RMB 149.360 billion.
Key operational highlights include:
- Oil and gas production increased 2.2% YoY to 515.35 million barrels of oil equivalent
- Natural gas production rose 4.7% YoY to 1,400.4 billion cubic feet
- Processed 252 million tonnes of crude oil with refined oil products at 153 million tonnes
- Total chemical sales volume reached 83.45 million tonnes, up 0.5%
The Board proposed a final cash dividend of RMB 0.14 per share, bringing total annual cash dividend to RMB 0.286 per share. Combined with share repurchases, the total payout ratio reached 75%. The Board also approved a new round of share repurchase mandate.
Sinopec Corp. announced promising interim results for H1 2024. Key highlights include:
- Operating revenue: RMB 1.58 trillion
- Profit attributable to shareholders: RMB 37.079 billion (up 2.6% YoY)
- Basic earnings per share: RMB 0.307 (up 2.0% YoY)
- Interim cash dividend: RMB 0.146 per share
- Oil and gas output: 258 million barrels of oil equivalent (up 3.1% YoY)
- Natural gas production: 700.6 billion cubic feet (up 6.0% YoY)
The Board approved the 'Action of Corporate Value and Return Plan', proposing to distribute cash dividends of not less than 65% of annual profit for the next three years (2024-2026). The company also outlined plans for green development, innovation-driven growth, and business transformation across its upstream, refining, and marketing segments.
China Petroleum & Chemical Corporation (Sinopec Corp.) announced its Q1 2023 unaudited results, reporting a net profit of RMB 20.740 billion, a year-on-year decrease of 11.87%. The company's operating income rose by 2.59% to RMB 791.331 billion. Oil and gas production reached 124.6 million boe, with natural gas at 330.47 billion cubic feet. The refining segment processed 62.24 million tonnes of crude oil, generating RMB 10.459 billion EBIT. The chemicals segment, however, faced challenges, realizing a RMB -3.022 billion EBIT. Despite a 5.3% increase in gas production, the realized crude oil price dropped by 15.5% to USD 75.21 per barrel.
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