Chinese oil and gas company Sinopec increased its net profit by 22% in 2018


Net profit of Sinopec, the Chinese oil and gas company with a high share of state capital, grew by 22.04% in 2018. The company received $9.18 billion last year, Sinopec representatives say. Earnings per share rose to $0.08 versus $0.06 in 2017. Operating profit increased by 22.09% to $424 billion. The company increased its oil and gas production by 0.6% in 2018. Sinopec production exceeded 451 million barrels of petroleum products, 64% of which came from oil production. The company is engaged in exploration, processing and transportation of oil, production of mineral fertilizers and petrochemicals. Sinopec is the largest Chinese integrated energy company.

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