Jinwu Financial News | Sinopec (00386) announced that for the three-month period ended March 31, 2024, it recorded net profit of 18.316 billion yuan (RMB, same below), a year-on-year decrease of 8.9%, and basic earnings per share of 0.153 yuan.
During the period, revenue was recorded at 789.967 billion yuan, a slight decrease of 0.2% over the previous year.
In the first quarter, oil and gas equivalent production was 128 million barrels, an increase of 3.4%; of these, crude oil production was 70.36 million barrels, an increase of 1.3%, achieving a price of 75.43 US dollars/barrel, a slight increase of 03%; natural gas production reached 350.46 billion cubic feet, an increase of 6%, to a price of 1.98 yuan/cubic meter, a decrease of 5.7%. The exploration and development sector's profit was $12.706 billion, an increase of 11%.
Crude oil was processed at 63.3 million tons, an increase of 1.7%; production of refined oil products was 38.83 million tons, an increase of 4.1%. The refining sector made a profit of 6.412 billion yuan, a decline of 34.8%. Losses in the chemical sector narrowed from 1.78 billion yuan in the same period last year to 1,564 billion yuan.